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!

Error: Please check your email address.

Tags Lowell McAdambusiness issuestelecommunicationFran Shammofinancial resultsVerizon Communications

Featured

Slideshows

Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP honoured leading partners across the channel at the Partner Awards 2017 in New Zealand, recognising excellence across the entire print and personal systems portfolio.

Meet the top performing HP partners in NZ
Tech industry comes together as Lexel celebrates turning 30

Tech industry comes together as Lexel celebrates turning 30

Leading figures within the technology industry across New Zealand came together to celebrate 30 years of success for Lexel Systems, at a milestone birthday occasion at St Matthews in the City.​

Tech industry comes together as Lexel celebrates turning 30
HP re-imagines education through Auckland event launch

HP re-imagines education through Auckland event launch

HP New Zealand held an inaugural Evolve Education event at Aotea Centre in Auckland, welcoming over 70 principals, teachers and education experts to explore ways of shaping and enhancing learning using technology.

HP re-imagines education through Auckland event launch
Show Comments