News by Andrew Kameka on Tuesday January 21, 2014.
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Verizon today announced its earnings for the fourth quarter of 2013. The largest operator in the US reported that it had a net profit of $7.9 billion, a big turnaround from the $4.23 billion loss during the same period in 2012. Without unforeseen costs related to damage caused by Hurricane Sandy last year, Verizon was able to return to its form of big profits.
On the wireless front, Verizon added 1.7 million new customers to increase its wireless customer total to nearly 103 million. In the final three months of last year, Verizon added 1.57 million contract subscribers. The carrier reported 8.8 million smartphone activations and 625,000 tablets, raising its overall tablet base to 3.6 million.
Verizon's 4G LTE network has reached 97 percent of the US population through launches in more than 500 markets. The carrier has placed an emphasis on the network as a way to offset the pricing and flexibility competition offered by T-Mobile. CFO Fran Shammo claimed that Verizon's LTE coverage is 5 to 6 times its competitors and more reliable. When asked about how T-Mobile's Un-carrier initiatives have affected competition, Shammo said, "There's more competitiveness than one little price plan."
To cement its lead on 4G, Verizon plans to deploy AWS spectrum in more cities to increase reliability and speeds. Verizon reports that 69 percent of network data traffic is already on 4G LTE.source: Verizon
Andrew is based in Miami, Florida.