Verizon Makes $2 Billion Profit

**Editor’s Note:

Click here

for our look back at how some of the biggest names in telecommunications performed financially in Q4 2012.**

Everything’s coming up roses for Verizon.

The communications giant reported a profit of nearly $2 billion $1.95 billion to be precise in the first quarter of the year. That was up nearly 16 percent over the year-ago quarter. Total revenue was also up 4.2 percent, to $29.4 billion.

The carrier is adding wireless and FiOS customers as it continues to receive accolades for the speed, reliability and quality of its networks.

Verizon Wireless, which the N.J.-based carrier jointly owns with Vodafone of the U.K., is again the star. That side of the business saw a revenue increase of nearly 7 percent when compared to Q1 2012. VzW added a net of more than 675,000 postpaid subscribers up 35 percent from the year-ago quarter.

Revenue for its FiOS TV service was up 15 percent, and the company’s number of high-speed Internet customers grew by nearly 190,000.

Verizon is firing on all cylinders,” noted Roger Entner, lead analyst and founder of Recon Analytics. “In an increasingly saturated market, the company is accelerating subscriber, revenue and profit growth. The ShareEverything plan is being received enthusiastically by consumers. FiOS continues to make inroads in the Internet and video markets taking away share from the cable companies.

About the only negative from Verizon’s quarterly earnings report was that iPhone activations fell by one-third compared to the fourth quarter of 2012. Of course, a lot of that can be chalked up to the fact that the latest version of the iPhone debuted back in September, and Q4 2012 sales benefitted greatly from the holiday season.

Follow senior online managing editor


on Twitter.

Leave a comment

Your email address will not be published. Required fields are marked *

The ID is: 86479