Verizon lost $653 million last quarter in spite of increasing revenues

[allaboutsymbian]

http://www.blogcdn.com/www.engadget.com/media/2010/01/27jan10vzq9ub3.jpg (http://investor.verizon.com/news/view.aspx?NewsID=1033)91.2 million total customers, 2.2 million of whom joined in Q4 (http://www.engadget.com/2009/10/30/motorola-droid-review/), $27.1 billion operating revenue in the quarter, and you still make a loss? Well, in fact Verizon made a tidy profit, which may be considered comparable to Google and Intel's (http://www.engadget.com/2010/01/15/intel-profits-recover-to-2-3-billion-in-q4-2009-company-descri/) latest results, but its culling of jobs at the end of last year cost it a whopping $3 billion (presumably in redundancy settlements). Still, the company looks buoyant with that quarterly revenue number growing by 9.9 percent year-on-year, and CEO Ivan Seidenberg noting that significant costs were incurred in setting up for a 4G network deployment in 2010. Our favorite nugget of info? The "cash expense per customer" per month number: $27.62, which presumably includes Droid subsidies and the like. How does that compare to what you're giving VZW each month?

[Thanks, Josta]Verizon lost $653 million last quarter in spite of increasing revenues (http://www.engadget.com/2010/01/27/verizon-lost-653-million-last-quarter-in-spite-of-increasing-re/) originally appeared on Engadget (http://www.engadget.com) on Wed, 27 Jan 2010 03:28:00 EST. Please see our terms for use of feeds (http://www.weblogsinc.com/feed-terms/).


Permalink (http://www.engadget.com/2010/01/27/verizon-lost-653-million-last-quarter-in-spite-of-increasing-re/) http://www.blogsmithmedia.com/www.engadget.com/media/post_label_VIA.gifNew York Times (http://www.nytimes.com/2010/01/27/technology/companies/27verizon.html?partner=yahoofinance) | http://www.blogsmithmedia.com/www.engadget.com/media/post_label_source.gifVerizon (http://investor.verizon.com/news/view.aspx?NewsID=1033) | Email this (http://www.engadget.com/forward/19333271/) | Comments (http://www.engadget.com/2010/01/27/verizon-lost-653-million-last-quarter-in-spite-of-increasing-re/#comments)

More... (http://www.engadget.com/2010/01/27/verizon-lost-653-million-last-quarter-in-spite-of-increasing-re/)