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Verizon reports Q4 profits of $7.9 billion, topping analysts' estimates

Verizon reports Q4 profits of $7.9 billion
Verizon reports Q4 profits of $7.9 billion

On Tuesday, Verizon reported a profit of $7.9 billion in Q4 of 2013, topping analysts' estimates for the largest cell phone provider in the country.

The company reports that its profits amounted to $7.92 billion, or $1.66 per share, compared to a $1.9 billion, or $1.48 per share, loss in Q4 of 2012. The total revenue the company made in Q4 of 2013 amounted to $31.07 billion.

These earnings beat analyst estimates of $31.02 billion revenue and only 65 cents per share earnings for this quarter.

The company also reports that their 4G LTE service is now available to 305 million people in over 500 markets across the country. Verizon also reported a 15.6% increase in revenues from FiOS from Q4 2012 to Q4 2013, while wireless revenue increased by 5.7%.

Also on Tuesday, Verizon confirmed that it will be buying Intel Media, a division of Intel dedicated to internet TV streaming.

Read the press release here.

What do you think about Verizon's continued dominance in the U.S.? Leave your thoughts in the comments section below.

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