Verizon posts weak fourth-quarter, promises a better 2013
(Reuters) – Verizon Communications Inc posted a weaker-than-expected wireless operating profit margin due to hefty costs from smartphones like Apple’s iPhone, but the U. S. telephone company promised a big improvement this year as it cuts costs. While Verizon’s fourth-quarter bottom line was weaker than anticipated, investors were encouraged when Chief Financial Officer Fran Shammo said on Tuesday that the company could be in a position to buy back shares sooner than expected and that wireless margins could rise this year to as high as 50 percent. . . .
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