Verizon's Apple iPhone sales could be a major factor in the operator's reported $2 billion loss during Q4 2011.
Although the company activated 4.2 million iPhones in the end of last year, Verizon's two-year contract subsidies means it could not recoup the cost of the hardware.
Overall, Verizon's sales were up though, with the wireless division's sales revenue up by 13 percent and data up 19.2 percent. Service revenue increased by 6.4 percent compared to Q4 2010.
Verizon's Q4 2011 results exposed the loss, which indicated the company earned 71 cents per share compared to 93 cents per share in the same quarter last year.
Along with losses related to iPhone subsidies, pension charges were to blame. Adjusted profit stood at 52 percent per share - down on analyst predictions of 53 cents.
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