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Verizon Posts Strong Earnings Growth in 1Q 2013

Discussion in 'Cable TV Discussion' started by Stewart Vernon, Apr 20, 2013.

  1. Stewart Vernon

    Stewart Vernon Doctor Whom Staff Member Super Moderator DBSTalk Club

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    Kittrell, NC
    Wireline Reports Continued Strong FiOS Customer and Revenue Growth
    Verizon’s Wireline segment reported continued strong FiOS customer, market share and revenue growth in first-quarter 2013, leading to overall growth in consumer revenues. In enterprise and wholesale, increased sales of global enterprise strategic services continued to help mitigate lower revenues resulting from secular and global economic impacts.

    Wireline Financial Highlights
    • Consumer revenues were $3.6 billion, an increase of 4.3 percent compared with first-quarter 2012. Consumer ARPU for wireline services increased to $107.15 in first-quarter 2013, up 9.5 percent compared with first-quarter 2012.
    • FiOS revenues grew 15.1 percent, to $2.6 billion in first-quarter 2013 compared with $2.3 billion in first-quarter 2012. ARPU for FiOS customers continued to be more than $150 in first-quarter 2013.
    • Sales of strategic services to global enterprise customers increased 6.0 percent compared with first-quarter 2012 and represented 55.6 percent of total enterprise revenues. Strategic services include Verizon Terremark cloud and data center services, security and IT solutions, advanced communications, and strategic networking.
    Wireline Operational Highlights
    • Verizon added 188,000 net new FiOS Internet connections in first-quarter 2013, marking the third consecutive quarter of sequential growth in net customer additions. The company also added 169,000 net new FiOS Video connections in the quarter. Verizon had a total of 5.6 million FiOS Internet and 4.9 million FiOS Video connections at the end of the quarter, representing year-over-year increases of 12.0 percent and 12.5 percent, respectively.
    • FiOS penetration (subscribers as a percentage of potential subscribers) continued to increase. FiOS Internet penetration was 38.2 percent at the end of first-quarter 2013, compared with 36.4 percent at the end of first-quarter 2012. In the same periods, FiOS Video penetration was 34.1 percent, compared with 32.3 percent. The FiOS network passed 17.8 million premises by the end of first-quarter 2013.
    • Broadband connections totaled 8.9 million at the end of first-quarter 2013, a 1.4 percent year-over-year increase. Overall, net broadband customers increased 99,000 in the first quarter, as FiOS Internet net customer additions more than offset fewer subscribers for DSL-based High Speed Internet services.
    • Verizon has been replacing high-maintenance portions of its residential copper network with fiber optics to provide enhanced services and to reduce ongoing repair costs. In first-quarter 2013, Verizon migrated 83,000 homes to fiber, toward a target of 300,000 migrations within FiOS markets in 2013.
    • Verizon Enterprise Solutions completed agreements with and began deploying innovative business technology solutions for a variety of corporations and organizations in the quarter, including the Commonwealth of Pennsylvania, Ocean Exploration Trust, Quest Diagnostics and Synchronoss Technologies (Nasdaq: SNCR).
    NOTE: See the accompanying schedules and www.verizon.com/investor for reconciliations to generally accepted accounting principles (GAAP) for non-GAAP financial measures cited in this document.

    Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers. Verizon Wireless operates America’s most reliable wireless network, with nearly 99 million retail connections nationwide. Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries, including all of the Fortune 500. A Dow 30 company with nearly $116 billion in 2012 revenues, Verizon employs a diverse workforce of 181,900. For more information, visit www.verizon.com.

    Full press release here.
     
  2. Stewart Vernon

    Stewart Vernon Doctor Whom Staff Member Super Moderator DBSTalk Club

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    Announced this week before the creation of this forum, so I thought it was worth posting. Note that only the FiOS portion of the press release was posted above, other Verizon interests are contained at the full link provided at the bottom of the post.
     
  3. LI-SVT

    LI-SVT Icon

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    May 18, 2006
    This press release makes it seem as if Verizon is rollong out more fiber. I thought they haulted that to concentrate on increased penetration with existing areas. I am hoping they wire up my street, thats for sure.
     
  4. fireponcoal

    fireponcoal Icon

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    They are still rolling out service to those areas they are contracted to do so in. Philadelphia county is one of those locals where every area is not yet completely wired for service. Slowly but surely all will be done in short time.
     
  5. Sixto

    Sixto DIRECTV A-Team

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    Nov 18, 2005
    Rolling out in NYC also.
     

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