Verizon reports profits of $7.9 billion

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Verizon has released their year-end financial report today. Verizon added 1.7 million customers in the last quarter. Now Verizon has a total subscriber count of 102.8 million. This solidifies Verizon as the largest wireless carrier in the U.S.

Even though Verizon is facing intense competition from companies like AT&T, T-Mobile, and Sprint, Verizon has the largest 4G LTE network. Verizon’s LTE network now covers around 305 million people. Verizon said that around 69% of all data traffic flows through their LTE network.

Verizon reported a fourth quarter profit of $7.9 billion on revenues of $31.07 billion. Verizon activated 8.8 million smartphones last quarter, which was 88.9% of all device activations and was a 3.5% increase over the third quarter. Verizon saw a 4.1% year-over-year increase across their entire business in annual operating revenues, totaling $120.6 billion.

[Source: Verizon News Center]

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