Verizon has posted its second quarter earnings, which saw the carrier accruing a double-digit percentage increase in operating income and earnings per share. Over the course of the quarter, Verizon has managed to add 1.4 million new postpaid wireless subscribers, up from 941,000 over the same period last year.
The carrier posted profits of $4.21 billion and $1.01 earnings per share, up from $2.25 billion (after splitting from Vodafone) and 78 cents per share in second quarter 2013. Overall revenue for the carrier was the highest recorded in over six quarters at $31.48 billion. The $130 billion buyout of Verizon Wireless from Vodafone had a significant impact in the uptick of profits.
Other highlights include a 75 percent smartphone consumer base, up from 72 percent last year. Verizon has also bolstered its LTE service during the quarter by launching an XLTE network that takes advantage of the AWS spectrum to boost bandwidth in select regions, and is in the process of rolling out VoLTE services across the country. The carrier is also bringing changes to its FiOS wired broadband service by offering upload speeds to match a customer's download speeds at no additional cost.
Interested in looking at other statistics from this quarter? Head on over to Verizon from the link below for all the details.
Source: Verizon
Reader comments
Verizon's second quarter profits soar, highest recorded revenue in six quarters
Arguing about carriers is like arguing about religions... Most people think their's is best. All of us in the USA are being gouged for what we're getting. We are only lately waking up to the fact that subsidized phones are a scam. Five years from now we will all be shaking or heads at how much we were paying.
Posted via Android Central App
Good job Verizon! I really look forward to seeing these profits trickle down as you reinvest into the network and make it so I can I have a decent download speed in the middle of town during rush hour!
The XLTE sure is nice in the middle of the night when I'm the only one on it, but when I'm standing in front of the store at the mall on a Saturday afternoon... Not so much! Then I'm lucky to get dial up speeds!
Posted via Android Central App
Good Verizon, good!!!
Keep raking in the profits!
Posted via Android Central App (Moto X)
Now maybe they'll get there Data network back right in dallas speeds are lagging
Posted via Android Central App
You know you have no life when you're on the internet arguing over who the better phone company is...
Posted via My Galaxy S5...
Also arguing over the best smartphone shows you have no life. The best smartphone and OS is what works best for you bottom line.
Posted Via AT&T Galaxy Note 3
Verizon bashing?? I'm a Verizon customer and they need to be bashed.
While the rest of the world pays less for connectivity and data, Verizon is finding ways to make us pay more.
They shift as the tides change and try to monetize things that were once free or unlimited.
Remember when they made you take an an "unlimited" plan and didn't care if you wanted to use WiFi?
That was because unlimited was okay with slow 2G/3G. Now with faster speeds they want to charge you for data.
Also they don't want you to use local storage, but store your stuff in the "cloud" so they can charge you to access your data per MB.
Sorry, Verizon like AT&T is a big money grubbing enterprise that is not about being competitive on prices and services.
Once again, while the rest of the world is seeing the cost to access data and the internet go down on mobile devices, we in the US are seeing prices increase through tiered plans that are insane if you go over or almost as insane when you want to buy a bigger chunk. Also do you roll that chunk over?? Of course not.
Why shouldn't they be a "money grubbing enterprise"? That's the whole point of being in business... to make money for their employees, executives, and shareholders. If you don't like it, find a competing business and take your money to them.
Verizon and AT&T need some real competition already.
I have been on Verizon for 4 years now and the price is right in line with att and sprint give or take 10-20 dollars but the service both coverage and customer service more than makes up for it. I have always been envious of the device selection with att since I switched from them but Verizon is getting much better with that too...I have no complaints because when it cones to mobile its important obviously and u get what you pay for
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My fios is now symmetrical. Wow
"The world would be so boring without idiots like you to amuse me."
I really dislike how Verizon locks down their phones and takes forever to approve updates. That being said, having been with AT&T and Sprint before, Verizon is the only carrier that provides me coverage wherever I go.
T-Mobile is like the third world country of the mobile industry. Their coverage map has more areas that aren't covered than are covered.
It's the price we pay for the coverage we get. A price I have no problem paying. With my employer discount, my bill would increase to whichever carrier I would switch to, including T-Mobile. Plus, I still have unlimited data.
Not one Verizon 4G phone is "locked down". They are required by the FCC to have them all unlocked from the factory and remain that way. What are you referring to?
I was on Verizon's network previously, but for the amount of data I use, it was too expensive. I do love Tmo's no-contract plans. Certainly, once you get outside major cities, Verizon's network coverage tends to outshine all others. I'm not a fan, but they're obviously doing something right.
Verizon FiOS has been shown to intentionally throttle Netflix. Their mobile service, while indeed having the best coverage, leeches money with insane monthly bills from the majority of their subscribers. It's insane.
Posted via Android Central App
Where exactly has FiOS been shown to intentionally throttle Netflix? How about more like Verizon (like many cable companies) refuses to add more connection point for Netflix to their network. Funny how I get insane speed on anything but Netflix. That doesn't sound like a FiOS problem, it sounds like a Netflix problem. And hardly just a problem on FiOS. And Netflix wants to push 4k lol...
Using a VPN users on Verizon can readily connect to Netflix and stream at higher quality. Verizon is obviously blocking it if they don't see where the data is coming from they don't seem to care.
BS. The issue is Congent only has so many connection points to Verizon. The same exact issue every other cable company has. Many others (Comcast, Time Warner) already forced Netflix to pay to upgrade those connection points, Verizon did the same recently, so in theory it should improve as time goes on.
Take off you tinfoil hat and ask yourself why would it behoove Verizon to slow down Netscape specific traffic. It's not like they need to worry about network congestion.
This story explains the Verizon growth in more detail. The growth was not in smartphone sales,which by the way was abysmal. http://www.engadget.com/2014/07/22/verizon-earnings-q2-2014/
They don't care about smartphone sales. They are about getting new people on plans, because cellphone plans are where they make the big bucks.
Posted via Android Central App
I'm a longtime Verizon customer, but I agree Verizon is only a good deal for those who have grandfathered plans. I have 450 minutes for $39.99, 1000 texts for $9.99, and unlimited data for $29.99. Total of $79.97 before my 20% discount through my employer, which brings it down to $63.98. Last I checked, with T-Mobile I'd be paying $80 to get 4G LTE unlimited data and T-Mobile axed employer discounts. Sure I don't have unlimited minutes or texts, but I'm also not a teenage girl so 30+ texts per day is already overkill. Though the minutes allotment would hurt if I didn't have a separate work phone with unlimited minutes.
The forecast for this thread consists of partly cloudy skies and a 100% chance of Verizon Hate.
These bastards didn't take our money! We are more than happy att customers still! :)
I've been a happy (enough) AT&T customer for years. How is Verizon?
You're better off asking people close to home, but where I am, I have not only coverage in cow country, I have 4G in nearly all of it too, and a single-line bill with 2 gigs' data isn't too bad either. I couldn't say the same for Sprint, but then again, YMMV.
Posted via Android Central App
Is it just me or does that g3 look awesome no matter what company it's with?
Posted via Android Central App
Are you referring to the picture? 'cause that's a G2
Posted via Android Central App
Nope.
Posted via Android Central App
That is a G3.
My AC App signature lacks a witty comment.
You can get faster data speeds...but you can't pay more!
Good for Verizon.
Posted via Android Central App
Their making more money because att is not expanding as fast and Verizon isn't lowering prices just taking things away. Plus they have great advertising budget which really helps. And if you travel a lot for business most options aren't good enough. Verizon would be your only choice. With all these profits I have a feeling their going to start taking away more unlimited plans.
Posted via Android Central App
Ah yes those pesky unlimited plans, still a thorn in the sides of those rich execs; why must we cling on to them so tightly, gobbling chunks of data with reckless abandon, tethering ruthlessly, binge watching, mindlessly streaming tunes. Refusing to fall for silly marketing ploys to make us relinquish this freedom. whats that a free phone? nah no thank you sir, NEVER!
Considering how much Verizon screw's it's customers its no surprise.
Posted via Android Central App
Here we go. Let the Verizon bashing begin.
Posted via Android Central App
This.
Posted via Android Central App
Agreed.
Why not more bashing against ATT/Sprint/Tmo to get their network built out to more than just city centers? Then maybe they could start taking some of Verizon's pie and force Verizon to be competitive.
-Suntan
Att isn't any better nor is T Mobile, Verizon tried very hard to screw me over which is why I left. I would get 0 signal in my house and constant dropped calls because I lived in a dead zone but they refused to give me a network booster or help. Verizon's solution was to say well live somewhere else or go to another carrier.
Posted via Android Central App
Att is better. Gsm is superior. Plus att gas the second highest coverage in the USA. It takes time to roll out to rural areas
Posted via Android Central App
Not just that but at&t didn't need to rollout anything like XLTE, and even still consistently gets faster LTE speeds on average than Verizon.
Don't forget Verizon is also the carrier who lied about google wallet, blocked the nexus 7 illegally, and their CEO said 'the friction we have put in place upgrading to a new smartphone has helped out companies bottom line'
I never had any issues with AT&T's service in rural areas or in any areas. I have traveled to multiple states with no issues at all
Posted Via AT&T Galaxy Note 3
Unless you travel a lot, who has the most coverage is a pointless argument. It depends ENTIRELY where you are. Where I live and work, Verizon is a virtual dead zone, so I have AT&T. When I go visit my mom in the sticks, Verizon is the only thing that works, so I have no cell service the entire time I'm there, unless I got stand in the middle of the road.
AT&T isnt any better then Verizon LMAO. Why dont you ask the Verizon customers in NY that when they had no service during Hurricane Sandy while AT&T customers had service and were able to surf the internet. Plus AT&T is cheaper. I pay 150 for 2 lines with 6GB of data. Doesn't get much cheaper then that for great coverage wherever I go.
Posted Via AT&T Galaxy Note 3
That's exactly what it costs with Verizon except you would probably get an employee discount for somewhere around 15-25 percent off with Verizon considering Verizon works with over 500,000 employers to give employee discounts
Posted via Android Central App
And AT&T gave me a free month of service because I was in the flood zone and Verizon customers gave apologies
Posted Via AT&T Galaxy Note 3
Oh please at&t does that too. Sprint at well. T-Mobile gives you $100 a phone instead of a discount on your bill, because they are broke.
I meant to say AT&T is better then Verizon. I have been with AT&T for 10 years now any never had a issue with their coverage. During a emergency like Hurricane Sandy Verizon failed miserably while AT&T didnt. I experienced it first hand.
Posted Via AT&T Galaxy Note 3
That's cute, I pay $158 for 2 lines with Unlimited Data on Verizon. N3 and LG G2 .
$140, 2 lines, 10 GB shared. 25% off all accessories as well.
VZW NOTE 3 via AC app
Isn't 25% off accessories from Verizon regular Amazon prices?
Bingo. You made the decision to leave. Anyone can leave if they think they are getting screwed.
Posted via Android Central App
Why not?
Look, there's just not enough competition in the industry to make any of them customer focused.
Ask a Verizon FIOS customer what they think about Verizon bumping upload speeds while still providing awful Netflix streaming. Yeah, one could argue about how that might be L3's fault. But here's the deal, consumers pay Verizon. That's who they deal with. Verizon promises something, they should deliver. Otherwise, people should be allowed to bash.
They screwed them so bad that 1.4 milion customers left. No, wait, they ADDED that many. I guess that makes your comment pretty ignorant
Posted from the Avengers: Age of Droid Ultra
That is true. But their still the most reliable and if you have the money you have no other options that offer the coverage they offer.
Posted via Android Central App
2nd comment in and its a Verizon hater.
Posted via Android Central App
Plain and simple Verizon Wireless sucks major monkey balls period.
CDMA never again, Devices filled with disabling bloatware never again.
From my Galaxy Note 3 on Tmobile via Android Central App
You're an idiot.
Yeah, Verizon sucks so much, I'll more than likely be signing up with them in the next few months, because where I'm going they or AT&T are the only 2 major carriers with coverage in the area. By T-Mobile's own maps, they have absolutely 0 coverage.
Keep crying.
" Overall revenue for the carrier was the highest recorded in over six quarters at $31.48."
Wow! A whopping $31.48!!! Lol
Posted via Android Central App
I knew I missed a billion somewhere in that post. Fixed it now.