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’.