For the full year, Verizon reported adjusted EPS of $2.24 on revenues of $115.85 billion, compared with EPS of $2.15 in 2011 on revenues of $110.88 billion. The consensus estimates called for EPS of $2.38 on revenues of $115.57 billion.
On a GAAP basis, the company reported a quarterly loss of $1.48 per share compared with a loss of $0.71 per share in the fourth quarter of 2011. The loss was attributed to noncash pension charges, nonoperational debt retirement, restructuring and the effects of Hurricane Sandy.
The company’s CEO said:
We delivered a total return of 13.2 percent to shareholders in 2012, and we enter 2013 ready to accelerate the momentum we’ve achieved and create significant shareholder value in the years to come.
Verizon Wireless, a joint venture with Vodafone PLC (NASDAQ: VOD), generated $20 billion in fourth-quarter revenues, up 9.5% year-over-year. Postpaid average revenue per account (ARPA) rose 6.6% to $146.80. Wireless operating margin came in at 24%, up slightly from 23.7% a year ago.
The number of retail postpaid customers grew by 2.1 million in the quarter, bringing Verizon’s total number of retail connections to 98.2 million.
In the wireline business, revenues declined 1.5% to $10 billion in the fourth quarter, with most of the growth coming from the company’s FiOS service. Operating margins in the wireline business were 1% in the quarter.
Verizon did not offer any guidance, but the consensus estimates for the first quarter of 2013 call for EPS of $0.66 on revenues of $29.56 billion. For the full year, estimated EPS totals $2.81 on revenues of $120.24 billion
Shares are down about 1.4% at $41.93 in premarket trading this morning in a 52-week range of $36.80 to $48.77. Prior to today’s release Thomson/Reuters had a consensus price target of around $46.30 on the company’s shares.
Are You Still Paying With a Debit Card?
The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.
Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!
Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!
Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.