Verizon adds 1 2 million net customer additions in Q4, ups 2018 growth outlook
0Verizon adds 1.2 million net customer additions in Q4, ups 2018 growth outlook.
Verizon Wireless said that it added 1.2 million retail postpaid net customers in the fourth quarter as its 2017 net adds showed growth of 1.8 percent.
The telecom giant's fourth quarter results had a bevy of moving parts due to charges, tax law changes and revaluation of assets and liabilities. Meanwhile, growth initiatives such as telematics delivered fourth quarter revenue of $230 million. Internet of things revenue was up 17 percent from a year ago.
Verizon reported fourth quarter net income of $18.8 billion on revenue of $34 billion, up 5 percent from a year ago. For 2017, Verizon reported revenue of $126 billion. Earnings per share for the fourth quarter excluding a bevy of charges and gains were 86 cents a share, 2 cents lower than Wall Street estimates.
Fourth quarter earnings were $4.56 a share, up from $1.10 a share a year ago, according to Verizon. Adjusted earnings include a charge due to tax changes, mark-to-market to address pension liabilities, a charge for product realignment.