US mobile giant Verizon Communications has reported consolidated revenues of USD29.814 billion for the three months ended 31 March 2017, down 7.3% from USD32.171 billion in the corresponding year-earlier period. Verizon Wireless’ sales accounted for the bulk of the top-line figure, generating total operating revenues of USD20.878 billion in 1Q17, albeit down from USD22.004 billion in the first quarter of 2016. The company’s first quarter operating income dropped from USD7.942 billion to USD7.181 billion on an annualised basis, while net income decreased from USD4.430 billion to USD3.553 billion in the period under review.
In operational terms, Verizon Wireless – the largest US mobile operator by subscribers – reported a subscriber base of 113.913 million at 31 March 2017, up from 112.573 million in 1Q16. Further, the number of LTE devices used by Verizon subscribers surged to 93.2 million, up from 86.9 million in the year-ago period.