Verizon Wireless reported record growth in revenue in the fourth quarter of 2011, with a 7.7% year-over-year increase to $28.4 billion compared with Q4 2010, the company said in a Jan. 24 earnings statement. Revenue for the year rose 4% to a total of $110.9 billion, compared with the same period in 2010.
The growth was due to what the company called “strong demand for wireless, FiOs and strategic services.”
“Verizon Wireless produced particularly strong growth in the fourth quarter,” said Lowell McAdam, Verizon chairman, president and CEO, in a statement.
Verizon’s wireless operating income margin was up 23.7% in Q4 2011, generating $6.4 billion in pre-tax earnings. Total wireless revenues were $18.3 billion in Q4 2011, up 13% compared with Q4 2010. Total wireline or cable revenues were $10.1 billion, declining 1.5% year-over-year.
McAdam said he thinks the company has “great momentum for 2012.”
Verizon added more than 200,000 net new FiOS Internet connections and 194,000 net new FiOS Video connections in Q4 2011. The company reported 4.8 million FiOS Internet and 4.2 million FiOS Video connections for the whole of 2011. Verizon added a total of 1.5 million retail wireless subscribers during Q4, up 6.3% from the same time last year, thus inflating its base to 108.7 million connections.
