Home Home

Verizon’s Q2 Earnings Report

July 31, 2007 in Wireless Industry News

Verizon Comunications just reported its second quarter results for 2007. Wireless did well as expected, but the company lost quite a few broadband customers.

Verizon's 2007 Second Quarter earnings.

Verizon’s second quarter earnings report.

The high points of the earnings report:

  • Verizon Wireless gained 1.6 million customers, but lost 300,000 after (heh heh) Amp’d Mobile went bankrupt. (AT&T in the same period scored 1.5 million)
  • Revenues were up 6.3%.
  • Customers spent an average of $57.47 per month, up 11%, mainly due to the FiOS fiber optic service.
  • The FiOS unit gained 203,000 new subscribers, more than Verizon’s DSL internet service unit.

And the low points:

  • Verizon acquired Rural Cellular, a GSM carrier, paying a 40% premium over the current stock price.
  • The iPhone caused “an impact” with some customers porting numbers over to rival AT&T
  • Landline revenue fell 1.1%
  • In total, the number of broadband subscribers fell 35% from last year.

The bad news centered around the sudden decrease in broadband customers which was not confined to only Verizon (AT&T and Comcast reported similar losses).

Verizon’s purchase of Rural Cellular was a little odd, too – the company plans to take the 700k GSM subscribers and turn them into CDMA customers.

All in all, it wasn’t a bad quarter – Verizon’s numbers matched analysts’ estimates. While the company’s stock initially fell by 1.2%, it managed to bounce back with a vengeance today.

Source: “Verizon Profit Rises; Broadband Growth Shows 35% Decline” – IBD

***

Got Something To Say?


nokia phone blog: version 5

Subscribe!The Nokia Phone Blog is about mobile phones, MeeGo, S60, the wireless industry, and now Windows Phone.
Subscribe here.  RSS, Atom
Email me at cary (at) nokiaphoneblog.com.

The Blog

28

Featured


142

Mobile Phone Software


152

Nokia Phone Accessories


134

Nokia Phone Deals


303

Nokia Phone News


122

Nokia Phone Previews


50

Nokia Phone Reviews


21

Nokia Phone Tips and Tricks


63

Nokia Randomness


20

Other Mobile Phones


351

Wireless Industry News


Current Phone Prices, Courtesy of PhoneMatchUp!

PhoneMatchup Sony Xperia TX: $516.77
Samsung Galaxy Note II N7100: $639.00
HTC J: $598.88
Sony Xperia SL: $388.85
Nokia Lumia 900: $419.98

More Sites By Me

randomlygifted

angbox


My personal blog.
 
PhoneMatchup

PhoneMatchup


An eBay cell phone comparison shopping/price monitoring project. Buy your next cell phone through PhoneMatchup and save!
 
randomlygifted

randomlygifted


Let randomlygifted find you the perfect (random) gift ideas.
 
MyDealSpy

MyDealSpy


The greatest deal aggregator that has ever existed. Okay, I'm a little biased here.