Verizon Q2 Revenue Rose 2.4 Percent, Profit Edged Up 0.4 Percent
About 1.1 million wireless retail postpaid contract customers were added in the quarter, while the user churn rate was down to 0.90 percent.Verizon brought in $32.2 billion in second-quarter revenue, up 2.4 percent from the $31,483 it reported for the same quarter one year ago, while its net income rose 0.4 percent to $4.231 billion from $4.214 billion one year ago. In its latest earnings report, released July 21, Verizon announced that it brought in about 1.1 million new contract prepaid wireless customers in the quarter, down 21.3 percent from the same quarter one year ago. Diluted earnings per share came in at $1.04 in the second quarter, up 3 percent from the $1.01 per-share earnings recorded in the second quarter of 2014. "Verizon has delivered another quarter of strong financial and operational results, based on consistent network reliability and superior value that continues to attract new customers," Lowell McAdam, CEO and chairman, said in a statement. "In the second quarter, we again balanced quality Verizon Wireless connections growth with low churn and profitability, and we announced and completed our acquisition of AOL. We're now poised to offer customers exciting new over-the-top (OTT) mobile video services, and we look forward to a very positive second half of 2015."
In May, Verizon announced that it was bolstering its content and online advertising capabilities by acquiring AOL for $4.4 billion, according to an earlier eWEEK report. The acquisition, which had been rumored for months, brought together the largest U.S. mobile carrier and the AOL video and print content network, including the AOL Huffington Post Media Group. The financial results of that acquisition are not yet reflected in the company's quarterly figures but will begin to be reported starting in the third-quarter results.