Verizon Q2 revenues up 5.7% to USD31.5bn

23 Jul 2014

US telecoms giant Verizon Communications has reported revenues of USD31.483 billion for the three months ended 30 June 2014, an increase of 5.7% year-on-year. Consolidated operating income for Q2 was USD7.685 billion, up from USD6.555 billion on an annualised basis, while net income slumped to USD4.324 billion from USD5.198 billion in 2Q13. Mobile unit Verizon Wireless continues to generate the lion’s share of the company’s sales, with Q2 revenues increasing 7.5% to USD21.483 billion.

In operational terms, mobile unit Verizon Wireless saw its retail subscriber base grow 4.5% y-o-y to 104.637 million by end-June, including 98.593 million post-paid customers. The cellular unit added 1.427 million retail customers on a net basis in the second quarter, including 1.441 million net post-paid additions; net pre-paid subscriptions dipped by 14,000 in the same period.

As at 30 June, smartphones constituted more than 74.6% of Verizon Wireless’s post-paid user base. Further, during 2Q14 Verizon confirmed sales of 9.5 million Long Term Evolution (LTE)-suitable devices, raising its 4G total to 53.7 million; 76% of the company’s data traffic is now carried over its 4G networks.

Meanwhile, in terms of fixed line subscriber metrics, Verizon Communications claimed a total of 6.309 million fibre-optic ‘FiOS Internet’ subscribers and 5.419 million ‘FiOS Video’ IPTV connections. The telco’s overall broadband user base reached 9.077 million by end-June, with fixed voice accesses dropping to 20.391 million by the same date.

United States, Verizon Communications, Verizon Wireless