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Verizon Wireless Profit Margin Disappoints, Shares Off

January 22, 2013

Verizon Communications Inc on Tuesday posted a weaker-than-expected wireless operating profit margin due to hefty costs from the sale of smartphones like Apple's iPhone, but the U.S. telecommunications group promised the number would improve this year.

While the company's bottom line was weaker than anticipated, investors were encouraged when Chief Financial Officer Fran Shammo said the company could be in a position to buy back shares sooner than expected and that wireless margins could rise this year to as high as 50 percent.

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