Verizon 2Q15 revenues up 2.4% to USD32.2bn; LTE user base reaches 76m

22 Jul 2015

US telecoms giant Verizon Communications has reported total operating revenues of USD32.224 billion for the three months ended 30 June 2015, an increase of 2.4% year-on-year. Mobile unit Verizon Wireless generated the bulk of the company’s second-quarter sales, with a top-line figure of USD22.613 billion, up 5.3% on an annualised basis. Consolidated operating income for Q2 was USD7.821 billion, up 1.8% from USD7.685 billion in the year-ago period, while net income edged up 0.7% to USD4.353 billion, from USD4.324 billion previously.

In operational terms, Verizon Wireless saw its retail subscriber base increase by 4.7% y-o-y to 109.548 million, including 103.731 million post-paid customers. At the same date, Verizon boasted post-paid smartphone penetration of 81%, compared to 75% at 30 June 2014. In addition, in the April-June period Verizon claimed that the total number of Long Term Evolution (LTE)-suitable devices connected to its network reached 76.0 million, compared to 53.7 million in 2Q14. 87% of all mobile data traffic is now carried across its 4G network, the company observed.

Meanwhile, in terms of fixed line metrics, Verizon Communications claimed a total of 6.821 million fibre-optic ‘FiOS Internet’ subscribers and 5.765 million ‘FiOS Video’ IPTV connections at the end of the period under review. The telco’s overall broadband user base reached 9.221 million at 30 June, with fixed voice accesses dropping to 19.079 million by the same date.

Verizon CFO Fran Shammo commented: ‘We are committed to building the business for future growth. In the first half of this year we invested approximately USD18 billion in spectrum licences and capital for future network capacity. We also invested more than USD4 billion to acquire new capabilities with the AOL transaction, which supports our longer-term video strategy’.

United States, Verizon Communications, Verizon Wireless