Verizon boosts revenue, income on mobile and broadband growth

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Verizon’s first quarter results demonstrate that fiber-based broadband is a winner even for large telecommunications companies.  It supplants their loss of POTS customers with higher revenue generating services.

FiOS installed in Montclair, New Jersey

FiOS installed in Montclair, New Jersey (Photo credit: Wikipedia)

By , IDG News Service |  IT Management

April 24, 2014, 9:01 AM — 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. Net income attributable to Verizon, not including income for its former mobile partner Vodafone, was $3.9 billion compared to $1.9 billion in the same period last year. Verizon purchased Vodafone’s 45% stake in Verizon Wireless in a deal that closed during this past quarter.

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. Earnings per share would have been $0.91 had Verizon owned Vodafone’s share of Verizon Wireless during the entire quarter.

Verizon Wireless added 549,000 retail customers during the quarter, bringing its retail customer numbers up to 103.3 million, a 4.4% increase from the first quarter of 2013.

Mobile revenue was $20.9 billion for the first quarter, up 6.9% 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% from a year ago, and Fios TV has increased 8.7%, 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% increase from a year ago.

Wireline revenue was $9.8 billion for the quarter, down about $40 million from a year earlier.

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About Mark Milliman

Mark Milliman is a Principal Consultant at Inphotonics Research driving the adoption and assisting local governments to plan, build, operate, and lease access open-access municipal broadband networks. Additionally, he works with entrepreneurs and venture capitalists to increase the value of their intellectual capital through the creation of strategic product plans and execution of innovative marketing strategies. With more than 22 years of experience in the telecommunications industry that began at AT&T Bell Laboratories, Mark has built fiber, cable, and wireless networks around the world to deliver voice, video, and data services. His thorough knowledge of all aspects of service delivery from content creation to the design, operation, and management of the network is utilized by carriers and equipment manufacturers. Mark conceived and developed one of the industry's first multi-service provisioning platform and is multiple patent holder. He is active in the IEEE as a senior member. Mark received his B.S. in Electrical Engineering from Iowa State University and M.S. in Electrical Engineering from Carnegie Mellon University.
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