US telecoms giant Verizon Communications has reported revenues of USD31.586 billion for the three months ended 30 September 2014, an increase of 4.3% year-on-year. Operating income dropped 3.3% to USD6.890 billion, while EBITDA for the period under review dropped slightly, from USD11.3 billion to USD11.1 billion. Meanwhile net income for the July-September period totalled USD3.794 billion, down 32.0% compared to USD5.578 billion one year earlier; no reason was provided for the slump.
In operational terms, mobile unit Verizon Wireless saw its retail subscriber base grow 4.9% to 106.2 million on an annualised basis. The cellular unit added 1.525 million retail customers on a net basis in the third quarter, including 1.516 million net post-paid additions; as at 30 September smartphones constituted 77% of Verizon Wireless’ post-paid user base, up from 67% a year before. In addition, Verizon confirmed 10.2 million Long Term Evolution (LTE) device activations in the third quarter, while 79% of its total data traffic is now carried over its 4G network, compared to 64% one year earlier.