broadband news Verizon CEO Lowell McAdam

Published on January 22nd, 2013 | by nizam


Verizon Reports Strong Revenue And Customer Growth For Verizon Wireless And FiOS Services In 4Q 2012

Today Verizon Communications Inc. has reported that Verizon Wireless and Verizon Fios services have experienced an increase in customer and revenue growth in fourth-quarter 2012 which will positioning the company well for 2013.

Verizon Wireless reported record-setting customer additions in the quarter, while Verizon FiOS customer additions were higher in fourth-quarter 2012 than in the prior two quarters, despite the impact of Superstorm Sandy.

Verizon CEO Lowell McAdam

Verizon chairman and CEO Lowell McAdam at the recent Consumer Electronics Show.

“Verizon seized growth opportunities in the fourth quarter to cap a year of solid progress across the entire business,” said Lowell McAdam, Verizon chairman and CEO. “We delivered a total return of 13.2 percent to shareholders in 2012, and we enter 2013 ready to accelerate the momentum we’ve achieved and create significant shareholder value in the years to come.”

Verizon’s consolidated quarterly operating revenues exceeded $30.05 billion for the first time in company history in the fourth-quarter of 2012. This represented a 5.7 percent boost compared with fourth-quarter 2011 and was the company’s highest year-over-year quarterly growth rate in 2012.

Meanwhile Verizon claims that it lost $4.23 billion, or $1.48 a share, last quarter, compared with a loss of $2.02 billion, or 71 cents a share, a year earlier.

Excluding one-time items, Verizon earned 38 cents a share, badly missing the Street’s view of 50 cents.

In fourth-quarter 2012, Verizon Wireless delivered the highest number of retail postpaid net additions of any quarter in its history, strong growth in revenues, an increase in smartphone penetration, and continued low retail postpaid churn.

In the Wireline segment, Verizon claim that FiOS customer growth in fourth-quarter 2012 was greater than in the prior two quarters, despite the disruption caused by Superstorm Sandy. In global enterprise and wholesale, increased sales of strategic services continued to help mitigate lower revenues resulting from secular and global economic impacts.

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