Verizon earnings tumble as discounts bring in a record number of customers

“Verizon Communications Inc. (VZ), the second-largest U.S. phone company, reported a decline in adjusted fourth-quarter profit as smartphone discounts lured a record number of new wireless subscribers. Fourth-quarter earnings per share excluding some items fell to 38 cents from 52 cents a year earlier, the New York-based company said today in a statement.”