Wireless device additions lift Verizon 2Q profit

July 18, 2013 by Peter Svensson

(AP)—Verizon added more wireless devices than expected to its network in the latest quarter, continuing a strong run for the country's largest cellphone carrier.

Verizon Wireless added 941,000 devices to its contract-based plans in the April to June period and boosted service revenues by 8.3 percent from a year ago. Its closest rival, AT&T, is seeing revenue increases of around 4 percent.

Net income at Verizon Communications Inc. was $2.25 billion, or 78 cents per share, up 23 percent from a year ago, the company said Thursday. Excluding a pension-related gain, earnings were 73 cents per share. That beat the average estimate of analysts polled by FactSet by a penny.

Revenue was $29.79 billion, up more than 4 percent from a year ago and in line with analyst expectations.

Explore further: Verizon rakes in wireless fees in 1Q

Related Stories

Verizon rakes in wireless fees in 1Q

April 18, 2013

Verizon says its profit rose 16 percent in the latest quarter as revenue from wireless service kept rising at a rate that's the envy of the industry.

Verizon Communications 4Q loss widens

January 22, 2013

Verizon Communications' fourth-quarter loss widened, dragged down by restructuring, pension and Superstorm Sandy costs. The company activated a record number of new devices on its contract-based plans during the period.

AT&T loses contract phone subscribers in 1Q

April 23, 2013

AT&T Inc. says that it added a net 296,000 devices to its contract-based plans in the first quarter, but the gain was due entirely to tablets, which carry lower monthly fees.

AT&T sees fewer new customers in 3Q

October 24, 2012

(AP)—The flow of customers into AT&T's wireless stores slowed further in the latest quarter, putting the company far behind rival Verizon Wireless.

Verizon 3Q earnings double on pension effects

October 21, 2011

Earnings doubled at Verizon Communications Inc. in the latest quarter due to pension accounting effects, but the bottom-line result masked a weak quarter in the local-phone division, which was hammered by a strike and a hurricane.

Recommended for you

Your (social media) votes matter

January 24, 2017

When Tim Weninger conducted two large-scale experiments on Reddit - otherwise known as "the front page of the internet" - back in 2014, the goal was to better understand the ripple effects of malicious voting behavior and ...

Protective wear inspired by fish scales

January 24, 2017

They started with striped bass. Over a two-year period the researchers went through about 50 bass, puncturing or fracturing hundreds of fish scales under the microscope, to try to understand their properties and mechanics ...

'Droneboarding' takes off in Latvia

January 22, 2017

Skirted on all sides by snow-clad pine forests, Latvia's remote Lake Ninieris would be the perfect picture of winter tranquility—were it not for the huge drone buzzing like a swarm of angry bees as it zooms above the solid ...

Singapore 2G switchoff highlights digital divide

January 22, 2017

When Singapore pulls the plug on its 2G mobile phone network this year, thousands of people could be stuck without a signal—digital have-nots left behind by the relentless march of technology.

Making AI systems that see the world as humans do

January 19, 2017

A Northwestern University team developed a new computational model that performs at human levels on a standard intelligence test. This work is an important step toward making artificial intelligence systems that see and understand ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.