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Verizon’s Earnings Report (Q1 2007)

April 30, 2007 in Wireless Industry News

It was a good day for Verizon. While revenues were down from last year ($1.5 billion vs last year’s $1.6 billion), when all was said and done Verizon managed to beat analyst estimates of 53 cents a share – by a penny.

Verizon: Beating 1st Quarter Estimates by a Penny

Verizon beat Q1 estimates by a penny.

Most of the good and bad news from the earnings report stems from Verizon’s use of the “triple-play,” where it offered customers a bundle of services that included phone/wireless, television, and internet.

VZ’s upgrade of older copper wires to high-speed fiber-optic cable is costing the company more than $20 billion dollars, but bringing in new customers due to the broadband internet services such as FiOS and digital television that run over the fiber-optic lines.

As for Verizon Wireless, the company gained 1.7 million new customers in the first quarter. This is big since Verizon’s profit margins for wireless services are way higher than the rest of the business, at 26.5%.

Shares of Verizon rose 29 cents (0.77%) to close at $38.18.

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