Verizon on Thursday reported fiscal third quarter earnings exceeding Wall Street expectations, adding more than 1.1 million new customers.
The United States largest by subscribers cellular network reported earnings for the second quarter of $7.1 billion. Excluding a unique advantage over pensions, earnings per share stood at 77 cents per share, on revenues of $30.28 billion, more than 20 percent in the quarter from last year.
For the third quarter, Wall Street expects Verizon to earnings of 74 cents report part and revenues of $30.16.
(Image: Verizon)The cellular giant saw 7.6 million smartphones activated during the period of three months, with 88 per cent of all device activations being telephones. In total, 6.8 million LTE devices were activated in the network, with 64 percent of the network traffic currently in LTE.
United States wireless industry has become increasingly competitive over the last quarters, in particular with the remarkable impulse of T-Mobile to shake the industry with non-traditional plans and services. Meanwhile, Sprint wants to expand in the country for the sale of a major stake to the Japanese firm Softbank.
While these movements are not expected to Verizon in the short term, it is another concern of the company to consider in a not-too-distant future.
In September, Verizon said it will pay $130 billion for Vodafone in Verizon Wireless play, giving US full giant cellular carrier of the joint property.
In prepared statements in advance, Verizon President and Director Ejecutivo Lowell McAdam, said "coherent strategic investments" in wireless fiber, and global networks led strong financial performance of the company.
And he added:
"Having posted the earnings growth of two digits in five of the last six quarters, are focused on continuing to offer the best product portfolio in the most reliable networks;" capture of incremental growth in broadband, video and cloud services; and sustain our earnings and boost cash flow. "
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