Verizon posts $1.93 billion loss on pension costs, Sandy

A Verizon logo is seen during the International CTIA WIRELESS Conference & Exposition in New Orleans, Louisiana(Reuters) – U.S. telecommunications group Verizon Communications Inc posted a $ 1.93 billion quarterly loss on pension liabilities and superstorm Sandy-related charges that took the shine off a jump wireless business revenue. Shares of the company fell more than 2 percent to $ 41.55 in trading before the bell. Operating margin at the telephone company's wireless business, which accounts two-thirds of total revenue, rose slightly to 24 percent. Verizon and other mobile services providers subsidize smartphones for new customers and as a result are facing margin pressure due to rising costs. …


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