Verizon posts 4Q loss on pension adjustment

Verizon strengthened its position as the top dog of the wireless industry in its latest quarter by raking in new subscribers and selling millions of iPhones, but also posted a record loss.

The loss of $4.23 billion, or $1.48 per share, for the fourth quarter was mainly due to adjustments to the value of its pension funds and obligations, an annual routine for Verizon Communications Inc.

But even excluding the pension effects, the New York-based phone company missed Wall Street's earnings expectations when reporting Tuesday because of the cost of repairs after Superstorm Sandy and ...