Verizon 2017 revenues remain flat at USD126bn

24 Jan 2018

US telecoms giant Verizon Communications has reported total operating revenues of USD126.0 billion for the twelve months ended 31 December 2017, with the telco’s top-line figure remaining flat year-on-year. Operating income for the year under review increased 1.3% to USD27.4 billion, while net income more than doubled in 2017, to reach USD30.6 billion.

In operational terms, mobile unit Verizon Wireless reported 116.257 million retail connections, up 1.8% on an annualised basis. Of this figure, the bulk – 110.854 million – were post-paid accounts. In its fixed line business, Verizon reported that its total number of voice connections dropped 8.0% y-o-y to 12.821 million, while broadband connections dropped 1.1%, to 6.959 million. Of the latter figure, 5.850 million were ‘Fios’-branded fibre subscriptions, up 3.5% on a yearly basis. Finally, the firm’s IPTV user base dropped 1.6%, to reach 4.619 million at end-2017.

Chairman and CEO Lowell McAdam commented: ‘Verizon finished 2017 with great momentum, led by some of the best customer growth and loyalty results Verizon Wireless has delivered in recent years’.

United States, Verizon Communications, Verizon Wireless