Verizon Says Wireless Customer Additions Were Strong in 4Q

Verizon Communications Inc. (VZ) said that wireless customer additions remained strong throughout the fourth quarter, thanks to demand for 4G smartphones and tablets.

In a news release, the telecom giant reported growth in additions of its most lucrative long-term wireless contracts quarter-to-quarter and year-to-year, but didn't provide specific details. Meanwhile, customer-phone upgrades approached a better-than-expected 10%, and upgrade volumes trended higher as December progressed.

Verizon reiterated that strong customer volume and promotions pressured its wireless margins in the quarter but also said it expects the margins to return to historical levels in the first quarter.

During December, Verizon and AT&T Inc. (T) both warned they have to work harder to keep their wireless subscriber count growing amid a sector price war that has prompted more customers to leave.

Smaller rivals Sprint Corp. (S) and T-Mobile US Inc. (TMUS) have been pressing pricing deals to win customers, with Verizon and AT&T responding with promotions of their own.

Verizon plans to report its fourth-quarter financial results Jan. 22.

Write to Tess Stynes at [e-mail]

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