(Corrects paragraph 2 to say “loss attributable to Verizon”, corrects loss figure to $2.23 billion and year-earlier profit figure to $5.07 billion)
Jan 22 (Reuters) - Verizon Communications Inc’s quarterly revenue rose 6.8 percent due to higher net addition of postpaid subscribers and a rise in average revenue per account as users added more devices to shared data plans.
Verizon, however, reported a net loss of $2.23 billion, or 54 cents per share, attributable to the company for the fourth quarter, compared with a profit of $5.07 billion, or $1.76 per share, a year earlier, mainly due to valuation of benefits plan and pension adjustments.
Excluding items, Verizon earned 71 cents per share.
Revenue rose to $33.19 billion from $31.07 billion.
Verizon’s retail postpaid average revenue per account rose to $158.82 from $157.21, but was below $161.64 estimated by analysts polled by research firm StreetAccount.
The company net added 2 million retail postpaid subscribers. (Reporting by Anya George Tharakan in Bengaluru; Editing by Kirti Pandey)