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1st Quarter 12:00

EARNINGS ROUNDUP

Verizon adds subscribers, posts loss

NEW YORK — 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 it 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.

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But even excluding the pension effects, Verizon Communications Inc. missed Wall Street’s earnings expectations when reporting Tuesday because of the cost of repairs after Hurrican Sandy and ‘‘aggressive’’ advertising and price cuts on smartphones.

Verizon’s loss for the October-December period compared with a loss of $2.02 billion or 71 cents per share, a year ago.

Excluding the pension adjustments and various other charges, Verizon earned 38 cents per share. Stripping out a further 7 cents per share for the cost of repair after Superstorm Sandy, earnings were 45 cents per share. That still missed the average forecast of analysts polled by FactSet, of 50 cents per share.

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