Verizon 2Q19 revenues down 0.4% to USD32.1bn

2 Aug 2019

US telecoms giant Verizon Communications has reported total operating revenues of USD32.1 billion for the three months ended 30 June 2019, down 0.4% on an annualised basis. Second quarter operating income was reported at USD7.9 billion, compared to USD6.6 billion in 2Q18, while net income fell to USD4.1 billion from USD4.2 billion.

As of 2Q19 Verizon notes that it has started to report its financial and operational results under its new reporting structure, Verizon 2.0. Specifically, there are now two reportable segments that the company operates as strategic business units: Consumer and Business (note: Verizon previously reported results for its Wireless and Wireline segments).

In operational terms, the Consumer unit closed out 30 June 2019 with 93.896 million wireless subscribers, 6.474 million broadband customers and 6.058 million fixed voice users. The Business unit, meanwhile, claimed 24.221 million wireless subscribers, 494,000 broadband customers and 5.163 million fixed voice accesses.

CEO Hans Vestberg commented: ‘Verizon finished strong in the first half of 2019 by delivering solid financial results while transforming the business under the new operating structure and advancing our leadership in 5G … Verizon made history this quarter by becoming the first carrier in the world to launch 5G mobility.’

United States, Verizon Communications