Verizon reports quarterly earnings, exceeds expectations

U.S. carrier Verizon just underwent another spectacular quarter. The company well exceeded its expectations producing an overall revenue of $23 billion this past quarter alone.

With $23 billion in generated revenue, Verizon’s quarterly earnings show a 5.4% increase from this time last year. The company reportedly added an additional 1.3 million subscribers this quarter alone, which is also incredible growth for the company. However it should be noted that service revenues were slightly down from last year due to an increase in equipment revenue.

As a result, Verizon’s new shift to month-to-month payments rather than 2-year contracts has paid off. This shift is also showing increases in other carrier’s revenue as well. This accounted for 58% of all smartphone activations this quarter, which a tremendous increase over this time last year which was only 12%.

The company also saw significant gains in its Fios TV service. During the period, Verizon managed to add 114,000 net subscribers to its broadband internet service as well as 42,000 new members to its video service. This is up 2.8% from just a year ago.

It’s great to see the company continue to set records. This only makes us wonder, “when will growth come to a stop?”

Source: Verizon

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