Menu
Verizon boosts revenue, income on mobile and broadband growth

Verizon boosts revenue, income on mobile and broadband growth

The company adds 549,000 retail mobile customes and 98,000 Fios broadband customers during the first quarter

Driven by growth in mobile and Fios broadband customers, Verizon Communications on Thursday reported first quarter 2014 revenue of $30.8 billion, up from $29.4 billion a year earlier.

Verizon reported net income of nearly $6 billion for the quarter, up from $4.9 billion a year earlier. Earnings per share were $1.15, up from $0.68 a year ago. Adjusted earnings per share were $0.84, while analysts expected $0.87.

Verizon Wireless added 549,000 retail customers during the quarter, bringing its retail customer numbers up to 103.3 million, a 4.4 percent increase from the first quarter of 2013.

Mobile revenue was $20.9 billion for the first quarter, up 6.9 percent from a year ago.

The company added 98,000 new Fios broadband customers and 57,000 new Fios television customers during the quarter, bringing the totals to 6.2 million Fios broadband and 5.3 million Fios TV customers. The number of Verizon's Fios broadband customers has increased 9.9 percent from a year ago, and Fios TV has increased 8.7 percent, the company said.

Including losses of DSL customers, Verizon's broadband customer numbers increased by 16,000 in the first quarter of 2014. The company now has 9 million broadband customers, a 1.5 percent increase from a year ago.

Wireline revenue was $9.8 billion for the quarter, down about $40 million from a year earlier.

On Feb. 21, Verizon closed its deal to buy Vodafone's 45 percent share in their mobile joint venture for $130 billion. After the deal, Verizon has "great confidence in our ability to sustain these strong results," Lowell McAdam, Verizon chairman and CEO, said in a statement.

The deal gives Verizon "full access to the very significant" cash flows of Verizon Wireless, Fran Shammo, Verizon's CFO said during a conference call. "We're off to a great start."

Grant Gross covers technology and telecom policy in the U.S. government for The IDG News Service. Follow Grant on Twitter at GrantGross. Grant's email address is grant_gross@idg.com.


Follow Us

Join the newsletter!

Or
Error: Please check your email address.

Tags business issuestelecommunicationfinancial resultsVerizon CommunicationsLowell McAdamFran Shammo

Featured

Slideshows

Bumper channel crowd kicks off first After Hours of 2018

Bumper channel crowd kicks off first After Hours of 2018

After Hours made a welcome return to the channel social calendar with a bumper crowd of partners, distributors and vendors descending on The Jefferson in Auckland to kick-start 2018. Photos by Gino Demeer.

Bumper channel crowd kicks off first After Hours of 2018
Looking back at the top 15 M&A deals in NZ during 2017

Looking back at the top 15 M&A deals in NZ during 2017

In 2017, merger and acquisitions fever reached new heights in New Zealand, with a host of big name deals dominating the headlines. Reseller News recaps the most important transactions of the Kiwi channel during the past 12 months.

Looking back at the top 15 M&A deals in NZ during 2017
Kiwi channel closes 2017 with After Hours

Kiwi channel closes 2017 with After Hours

The channel in New Zealand came together to celebrate the close of 2017, as the final After Hours played out in front of a bumper Auckland crowd.

Kiwi channel closes 2017 with After Hours
Show Comments