Verizon quarterly revenues reach USD30bn for the first time in 4Q12

23 Jan 2013

US telecoms giant Verizon Communications has reported revenues of USD30.0 billion for the three months ended 31 December 2012, a 5.7% increase year-on-year. Further, 4Q12 marks the first time in the company’s history that sales have exceeded the USD30.0 billion mark. In the fourth quarter of 2012 Verizon saw year-over-year revenue increases across all strategic growth areas: 8.5% for mobile unit Verizon Wireless, 15.7% for ‘FiOS’ fibre-optic sales and 5.3% for strategic enterprise services. For full-year 2012, Verizon’s revenues totalled USD115.8 billion, an increase of 4.5% on an annualised basis. Capital expenditure was USD16.2 billion in 2012, including USD135 million in companywide capital related to ‘Superstorm Sandy’ recovery efforts, and totalled about USD70 million less than in 2011.

In operational terms, Verizon Wireless reported 2.2 million net retail additions in 4Q12, including a record-high 2.1 million post-paid connections, to end the year with 98.2 million retail connections. Further, the company reported 7.3 million Long Term Evolution (LTE) device sales in the three months ended 31 December, to take its 4G total to well over 20 million. In its fixed line business, Verizon added 144,000 net new fibre-optic ‘FiOS Internet’ connections and 134,000 net new ‘FiOS TV’ connections in 4Q12, increasing its subscriber totals to 5.4 million (internet) and 4.7 million (TV) respectively. Overall broadband connections totalled 8.8 million at year-end 2012, a 1.4% y-o-y increase.

The group’s CEO Lowell McAdam commented: ‘Verizon seized growth opportunities in the fourth quarter to cap a year of solid progress across the entire business. We delivered a total return of 13.2% to shareholders in 2012, and we enter 2013 ready to accelerate the momentum we’ve achieved and create significant shareholder value in the years to come’.

United States, Verizon Communications, Verizon Wireless