Verizon posted a net loss of US$2.15 billion in the fourth quarter of last year, but operationally its numbers looked healthy, including the addition of 2 million postpaid connections.
The U.S. telco said the loss stemmed from non-operational items linked to its benefits and pension plans. In the year-ago quarter it posted a profit of $7.92 billion.
Verizon added 2.07 million retail connections in the three months to the end of December, of which 1.97 million were postpaid, including 672,000 phone customers.
As expected, the telco reported an increase in churn to 1.14%, from 0.96% in Q4 2013.
The wireless business contributed $23.45 billion to group turnover, up 11%, while wireline revenues slid 2% to $9.56 billion. Group revenue came in at $33.19 billion, an increase of 6.8%.
For the full year Verizon posted a net profit of $11.96 billion, down more than 49% compared with 2013, on revenues of $127.08 billion, up 5.4%.
"Verizon posted another year of consistently high operating and financial performance in 2014, with strong cash generation and the return of $7.8 billion to our shareowners," said CEO Lowell McAdam, in a statement.
"I am confident that Verizon’s assets and market momentum position us to continue to drive profitable growth in 2015," he added.
Verizon expects to post consolidated revenue grow th of at least 4% in 2015, but warned of a pension funding requirement of around $700 million.
