Mobile

Verizon reports strong Q4 with iPhone 4S, LTE leading the way

NOTE: GrowthBeat -- VentureBeat's provocative new marketing-tech event -- is a week away! We've gathered the best and brightest to explore the data, apps, and science of successful marketing. Get the full scoop here, and grab your tickets while they last.

The massive success of the iPhone 4S, together with its next-generation LTE 4G network, helped Verizon see strong earnings of $0.52 a share in the fourth quarter on revenue of $28.4 billion.

Ultimately, though, the company reported a fourth quarter loss of 71 cents in diluted earnings per share due to pension charges. In comparison, Verizon saw overall earnings of $0.93 per share in the fourth quarter last year.

Verizon’s hot wireless business saw its best quarter ever, with $18.3 billion in quarterly revenues, up 13 percent from last year. Data revenue accounted for $6.3 billion, while other service revenues made up $15.1 billion of the total. The wireless arm reported that it added 1 million total net connections for the quarter, 1.5 million retail customers (some of which were existing customers), 1.2 million of whom were postpaid subscribers (anyone paying a monthly bill).

Verizon sold a total of 7.7 million smartphones in the quarter, 4.2 million of which were iPhones (according to a prior announcement), and 2.3 million were LTE-equipped. The success of the iPhone was a double-edged sword for the company, as its heavy subsidies ate into wireless margins.

In its wired business, Verizon added 201,000 new FiOS internet customers, making for a total of 4.8 million FiOS Internet users (4.2 million of whom also subscribe to FiOS Video). Wired revenue was $10.1 billion, down 1.5 percent from last year.