Earnings Report: Verizon (NYSE:VZ) Swings to Quarterly Loss Amid One-Time Streamlining Costs

1/26/2010-Verizon (NYSE:VZ) reported Q4 EPS of $0.54, inline with consensus estimates.

Revenues in the quarter rose 10% year-over-year to $27.1 billion, but came in just shy of consensus estimates of $27.3 billion.

For 2010, Verizon has capital spending targeted in the range of $16.8 billion to $17.2 billion.

"In last year's turbulent economy, we took significant steps to strengthen Verizon going forward," said Chairman and CEO Ivan Seidenberg. "We focused on expanding wireless data and set the stage to deploy a nationwide 4G network later this year. We also expanded the scale of FiOS and our global IP network. We saw growth in all these areas in 2009, and we expect continued growth in 2010 and beyond, with a goal of delivering long-term shareowner value."

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