The New York-based company said wireless revenue rose 12.3% to $12.8 billion, with services revenue up 12% at $11 billion, and equipment and other revenue up 13.6% at $1.7 billion. Wireline revenue declined 2.7% to $11.9 billion, with sales at Verizon Telecom dropping 2.3% to $7.4 billion, and Verizon Business sales falling 2.3% to $5.2 billion.
During the quarter, Verizon Wireless added 1.2m net new customers to reach 72.1m. It also added 303,000 net new FiOS TV customers and 282,000 net new FiOS internet customers.
For fiscal 2008, it reported a 16.4% increase in net profit to $6.4 billion compared to $5.5 billion a year ago, on revenue up 4.2% at $97.3 billion. Operating profit increased 8.4% to $16.8 billion, compared to $15.5 billion last year.
Ivan Seidenberg, chairman and chief executive at Verizon, said: In the fourth quarter, we continued to produce top-line growth, fueled by strong sales volumes for broadband, wireless, and strategic business services. The Verizon story in 2008 was one of customer growth and product innovation, based on the strategic technology and broadband infrastructure investments we have made year after year.
