Verizon 4Q18 revenues up 1% to USD34.3bn

30 Jan 2019

US telecoms giant Verizon Communications has reported total consolidated operating revenues of USD34.3 billion for the three months ended 31 December 2018, up 1.0% on an annualised basis. Meanwhile, fourth quarter operating income was reported at USD637 million, down heavily from USD5.5 billion in 4Q17. Finally, net income for 4Q18 was reported at USD2.1 billion, compared to USD18.8 billion generated in the year-ago period; last year an overhaul of the US tax system gave the telco a one-time reduction in net deferred income tax liabilities of around USD16.8 billion.

In operational terms, Verizon ended 4Q18 with 117.999 million wireless subscribers, 6.961 million broadband customers and 11.732 million fixed voice users. New CEO Hans Vestberg commented: ‘Verizon finished 2018 by delivering solid financial and operational performance, as evidenced by our strong wireless service revenue and earnings growth.’

United States, Verizon Communications