Sunday, July 29, 2007

Verizon Adds 1.6 Million Wireless, 167,000 FiOS TV Subscribers

Citing strength in wireless and FiOS services, Verizon Communications reported $1.7 billion in Q2 earnings, or 58 cents in EPS, up from 43 cents EPS in the second quarter before discontinued operations. Revenues reached $23.3 billion in revenues, up 6.3 percent, compared to the same period last year. Some highlights:



Wireless

  • 1.6 million retail net customer additions; 1.3 million total net customer additions after reseller reductions. This gives the company a total of 60.1 million retail customers and 62.1 million total customers.


  • Churn was 1.08 percent retail and record 0.85 percent retail post-paid.


  • Wireless revenues totaled $10.8 billion, up 17.1 percent. Service revenues were $9.4 billion, up 17.0 percent, driven by customer growth and demand for data services.


  • Retail service ARPU (average monthly revenue per customer) was $51.84, up 3.0 percent year over year.


Wireline

  • Added167,000 net new FiOS TV customers in quarter. This gives Verizon 515,000 total FiOS TV customers; and nearly 1.3 million total video customers, including satellite TV.

  • At the end of the quarter, Verizon had 7.7 million total broadband connections (FiOS Internet and DSL), up 25.5 percent, including 288,000 net new broadband connections in quarter; 203,000 net new FiOS Internet customers in quarter, 1.1 million total FiOS Internet customers.

  • Data revenues across all market segments increased 11.6 percent, to $4.4 billion. This reflects increasing revenues from consumer broadband -- such as FiOS services and Verizon High Speed Internet (DSL) -- as well as from wholesale data transport and sales of Verizon Business data services.


  • Verizon Business reported second-quarter 2007 revenues of $5.3 billion, or growth of 2.4 percent compared with the second quarter 2006 on an adjusted basis (non-GAAP).

http://www.verizon.com

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