US operator Verizon swung to a fourth-quarter loss yesterday as a solid performance at its mobile unit (Verizon Wireless) failed to offset weaknesses at its legacy fixed-line businesses. The company reported a loss of US$653 million, or 23 cents a share, compared with a year-earlier profit of US$1.23 billion, or 43 cents. Excluding one-time items – among them the costs from cutting some 8,000 jobs – earnings fell to 54 cents a share. Revenue jumped 9.9 percent to US$27.09 billion, but the Wall Street Journal noted that both profits and revenue disappointed analysts. The company now plans to shed another 13,000 jobs in 2010, roughly the same amount cut in each of the past two years. The latest represents 11.1 percent of its total workforce of 117,000.

Meanwhile, Verizon Wireless – which is jointly owned by Verizon and Vodafone – saw revenue rise 22.5 percent to US$15.73 billion as a result of growth in smartphones and data services. The operator added 2.2 million net new mobile customers in the quarter to reach 91.2 million in total, up 26.6 percent from year-end 2008. However, ARPU decreased 2.2 percent year-on-year (0.6 percent on a pro forma basis) to US$50.75. According to the Wall Street Journal report, executives declined to comment on widespread speculation that Verizon Wireless is set to become the US operator for the Apple tablet (due to be announced this evening) or the next version of the iPhone. “We like [Apple] and like their product, but it’s their call,” said CFO John Killian. “We won’t sit around for some new device that’s coming.”