Verizon's mobile and Fios drive revenue growth

The company reports revenue growth of 4.3 percent and net income growth of 23 percent

Verizon Communications has reported a revenue increase of 4.3 percent for the second quarter of 2013, compared to a year ago, with mobile and Fios broadband customers additions driving the growth.

Verizon on Tuesday reported a net increase of 1 million mobile customers and 161,000 Fios broadband customers during the quarter.

The company reported revenue of US$29.8 billion in the second quarter. Net income for the quarter was $5.2 billion, up 21 percent from the $4.3 billion Verizon reported in the second quarter of 2012.

Adjusted earnings per share were $0.73, beating analyst estimates by one cent.

Verizon pointed to mobile and broadband growth as a cause for a strong quarter. "We are executing well in these key areas," Fran Shammo, Verizon's CFO, said during a conference call.

Mobile revenue was $20 billion in the second quarter of 2013, up 7.5 percent from $18.6 billion during the second quarter of 2012. At the end of the second quarter, the company had 100.1 million wireless retail customers, a 6.3 percent increase in the past year.

In broadband, Verizon added 161,000 Fios Internet customers and 140,000 Fios TV customers in the second quarter. Verizon had 5.8 million Fios Internet and 5 million Fios TV customers at the end of the quarter, representing year-over-year increases of more than 12 percent for each service.

Verizon reported 8.9 million broadband customers at the end of the second quarter, a 1.9 percent increase from a year ago. With DSL losses partially offsetting Fios gains, Verizon added 45,000 broadband customers during the quarter.

Verizon's wireline division posted revenue of $9.7 billion during the quarter, down from $9.9 billion in the second quarter of 2012.

Consumer revenue grew, however, with Verizon reporting $3.6 billion, an increase of 4.7 percent from the second quarter of 2012. Fios revenue grew 14.7 percent, to $2.7 billion.

Join the Good Gear Guide newsletter!

Error: Please check your email address.

Tags business issuesFran Shammotelecommunicationfinancial resultsVerizon Communications

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Grant Gross

IDG News Service
Show Comments

Most Popular Reviews

Latest News Articles

Resources

PCW Evaluation Team

Azadeh Williams

HP OfficeJet Pro 8730

A smarter way to print for busy small business owners, combining speedy printing with scanning and copying, making it easier to produce high quality documents and images at a touch of a button.

Andrew Grant

HP OfficeJet Pro 8730

I've had a multifunction printer in the office going on 10 years now. It was a neat bit of kit back in the day -- print, copy, scan, fax -- when printing over WiFi felt a bit like magic. It’s seen better days though and an upgrade’s well overdue. This HP OfficeJet Pro 8730 looks like it ticks all the same boxes: print, copy, scan, and fax. (Really? Does anyone fax anything any more? I guess it's good to know the facility’s there, just in case.) Printing over WiFi is more-or- less standard these days.

Ed Dawson

HP OfficeJet Pro 8730

As a freelance writer who is always on the go, I like my technology to be both efficient and effective so I can do my job well. The HP OfficeJet Pro 8730 Inkjet Printer ticks all the boxes in terms of form factor, performance and user interface.

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Aysha Strobbe

Windows 10 / HP Spectre x360

Ultimately, I think the Windows 10 environment is excellent for me as it caters for so many different uses. The inclusion of the Xbox app is also great for when you need some downtime too!

Mark Escubio

Windows 10 / Lenovo Yoga 910

For me, the Xbox Play Anywhere is a great new feature as it allows you to play your current Xbox games with higher resolutions and better graphics without forking out extra cash for another copy. Although available titles are still scarce, but I’m sure it will grow in time.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?