Verizon added 1.2M wireless subscribers in the quarter and reports that FiOS now represents 65% of consumer wireline revenue
Verizon Wireless added more subscribers than analysts expected in the second quarter, a factor that helped the wireless venture's part owner, Verizon Communications Inc. (NYSE: VZ), report revenues up by 3.7 percent year-on-year Thursday morning.
Verizon Wireless -- the joint venture between Verizon and Vodafone Group plc (NYSE: VOD) -- added 1.2 million net customers in the second quarter, including 888,000 new subscribers on a monthly contract. Analysts polled by Thomson Reuters had expected 666,000 of these monthly "post-paid" subscribers to be added in the second quarter.
Verizon Wireless ended June with 94.2 million retail customers, a 4.9 percent year-on-year increase, including 88.8 million customers on a monthly contract.
Verizon also added 134,000 FiOS Internet and 120,000 FiOS Video net wireline subscribers. The company reports that average revenue per user (ARPU) now tops $100 a month, with 65 percent of consumer wireline revenues generated by FiOS services.
Overall, Verizon reported net profits of $1.83 billion, or $0.64 a share, up from $1.61 billion, or $0.57 a share, a year ago. The operator's revenues increased by 3.7 percent to $28.55 billion.
This matched expectations of analysts polled by Thomson Reuters.
— Dan Jones, Site Editor, Light Reading Mobile
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