Verizon Communications continues to grow its customer base and gain revenue in new markets, recording $32.2 billion in revenue in the first quarter of this year, up 0.6 percent from a year ago.
The company reported 640,000 retail postpaid net additions in the quarter which excludes all wholesale connections, including IoT(Internet of Things). Out of that, Verizon added 452,000 4G smartphones to its postpaid base.
According to Verizon, growth in 4G device adoption is driving increased data and video usage with approximately 92 percent of Verizon’s total data traffic being on the LTE network. Overall data traffic on LTE has increased by approximately 50 percent year over year. At the same time, wireless capital expenditures totaled $2.2 billion in first-quarter and are expected to ramp up throughout the year.
The largest mobile operator in the US said that new revenue streams from IoT are growing, with revenues of approximately $195 million in first-quarter 2016 coming from this source, a year-over-year increase of about 25 percent.
Lowell McAdam, Chairman & CEO, Verizon
Verizon’s strong first-quarter results demonstrate our capacity to compete effectively, while executing on our plan of continued network leadership and seeding new growth markets in mobile video and the Internet of Things.
