Verizon 2Q22 revenues flat; net income drops to USD5.3bn

26 Jul 2022

US telecoms giant Verizon Communications has reported total operating revenues of USD33.789 billion for the three months ended 30 June 2022 – flat compared to the figure of USD33.764 billion reported in the corresponding period one year earlier. Second quarter operating income slumped from USD8.165 billion to USD7.552 billion in 2Q22, while Verizon’s net income dropped from USD5.949 billion to USD5.315 billion.

In operational terms, Verizon Wireless reported total mobile subscriptions of 142.821 million as of 30 June 2022, of which 23.138 million were pre-paid. Verizon notes that a total of 402,000 pre-paid subscriptions were lost due to ‘the shutdown of a competitor’s 3G network’, suggesting they were TracFone Wireless MVNO subscriptions that utilised the T-Mobile US network (i.e. customers using the Simple Mobile/Walmart Family Mobile brands).

Fixed broadband subscriptions reached 7.322 million (consumer) and 790,000 (business). Of that figure, 6.626 million consumer subscriptions utilised fibre-to-the-home (FTTH) technology, alongside 367,000 B2B clients. Verizon’s fixed wireless access (FWA) platform, meanwhile, accounted for 384,000 consumer subscriptions and 316,000 business users.

In terms of 5G coverage, Verizon says that 135 million people are now covered by its C-band networks, adding that quarterly C-band 5G usage surged 233% in 2Q22, compared to the first quarter.

United States, Verizon Communications, Verizon Wireless