Verizon posts Q4 2013 earnings, wireless revenues reach $21.1 billion

1.7 million new customers, significant year-over-year increases in service and retail revenues

Verizon has today posted its earnings report for the fourth quarter of 2013, showing strong results for its wireless and wireline businesses. Focusing on the wireless side of the equation, Verizon enjoyed another strong quarter, continuing to add customers while increasing retail and service revenues. Here's a breakdown of some of the highlights —

• Total wireless revenues of $21.1 billion
• Retail postpaid ARPA (average revenue per account) up 7.1 percent year-over-year to $157.21 per month
• Wireless operating income was 29.5 percent, up 5.5 percentage points year-over-year
• 1.7 million retail net additions, of which 1.6 million were postpaid

For the year as a whole, Verizon brought in operating revenues of $120.6 billion, up 4.1 percent from 2012. EPS (earnings per share) was $4, up from $0.31 in the previous year. The operator says its 4G LTE network now covers "nearly 305 million" across 500 markets, having now "substantially completed deployment" of LTE — Verizon's 4G now covers 99 percent of its 3G footprint, it says. And the trend towards smartphones continued, with 70 percent of retail postpaid customers using smartphones, up from 67 percent last quarter.

More details, including a breakdown of Verizon's wireline numbers, can be found at the source link.

Source: Verizon