Investing
Verizon (VZ) Rise Driven By Broadband And Wireless
Published:
Last Updated:
Wireless and broadband sales drove a strong quarterly performance for Verizon (VZ) EPS rose to $.66 from $.58 in the same period a year ago.
The company added 1.5 million new wireless subscribers to hit 68.7 million and subscriber churn dropped to 1.12%.
VZ also picked up 176,000 new FiOS fiber-to-the-home TV/broadband/voice customers, bad news for competing cable companies.
Verizon’s total operating revenues grew to $24.1 billion in the second quarter 2008, a 3.7 percent increase compared with the second quarter 2007. Verizon’s operating income grew 9.6 percent to $4.5 billion.
Wireless continued its double-digit revenue growth, with total revenues of $12.1 billion, up 11.8 percent year over year.
The 176,000 net new FiOS TV customers raised the company’s total to nearly 1.4 million FiOS TV customers as of the end of the quarter.
Comcast (CMCSA) and Time Warner Cable (TWC) has to be sweating a little.
Douglas A. McIntyre
Cash Back Credit Cards Have Never Been This Good
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
