Verizon Boasts Strong Earnings and Broadband Customer Increase
By Monica Link October 29, 2013 2:00 pm
reprintsVerizon Communications Inc. posted an increase in earnings and customer growth, the company announced.
During the third quarter of 2013, New York-based Verizon had operating revenue of 30.3 billion, up 4.4 percent from the same quarter in 2012. Operating revenue for the company increased to $7.1 billion up from 5.5 billion from the year-ago period. The company also reported a 4.3 increase in consumer revenue to 3.7 billion.
Revenue from Verizon’s FiOS increased 13.4 percent to 2.8 billion from 2.5 billion during the third quarter of 2012.
In addition to its earnings growth, Verizon has continued to expand its network. Earlier this year, the company made a deal with Transit Wireless to bring its 3G and 4G LTE voice and data service to New York City’s subway system. Verizon Wireless customers will have phone service in the 36 previously wired stations, and, with Transit Wireless plans to add 40 more stations, that number will significantly increase. Verizon’s expansion efforts also include a $65 million investment to connect more customers to its network in upstate New York. Customer satisfaction has also been a win for Verizon. The company topped Internet service providers in the eastern region of the United States in a recent J.D. Power and Associates study measuring Internet customer loyalty and overall satisfaction.
