Verizon: Sandy could have 'significant' impact on profit

Verizon said it is making progress in getting its cellular service back online for customers impacted by Superstorm Sandy, but the repair work may take a chunk out of its fourth-quarter earnings.

In a regulatory filing, the company said it is directing its resources towards powering up cell towers and rebuilding its network, "which may take some time." Verizon said it is not yet able to estimate how much impact the storm will have on operating profit, "but we expect that it could be significant." The nation's largest wireless carrier said 96% of its towers in Sandy-impacted areas are operational, up from 94% on Oct 31. But getting the remaining towers online will take a tremendous effort.