US telecoms giant Verizon Communications has reported revenues of USD33.158 billion for the three months ended 30 September 2015, an increase of 5% year-on-year. Mobile unit Verizon Wireless accounted for the lion’s share of sales, generating USD23.005 billion in the period under review. Third quarter operating income increased from USD6.890 to USD7.535 billion on an annualised basis, while net income totalled USD4.171 billion, compared to USD3.794 billion in the year-ago period.
In operational terms, Verizon Wireless saw its retail subscriber base increasing 4.3% y-o-y to 110.760 million, with post-paid users rising 4.9% to 105.023 million. As at 30 September smartphones constituted 82.4% of Verizon Wireless’ post-paid user base, up from 76.5% a year before. In addition, Verizon confirmed that the total number of LTE devices connected to its network reached 80.0 million, up from 59.4 million in 3Q14; 89% of the cellular unit’s total data traffic is now carried over its 4G network, compared to 79% one year earlier and 64% in 3Q13.