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Verizon's Earnings Surge on the back of Shared Plans & 4G LTE

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Shared Plans are taking off in a big way in the US this year and so is 4G/LTE. According to Verizon Communications Inc., the second largest mobile operator in the US, more than 36% of retail postpaid accounts are now on a Share Everthing Plan. The surge in smartphones usage are also noted this year with 64% of its Wireless retail postpaid customers using these devices, marking a 61% increase from end March 2013 to end June 2013. Verizon Wireless expansion of LTE network has reached 99% of its current 3G network footprint covering 500 markets and more than 95 percent of the U.S. population, providing access to 301 million people. The growth has translated into year-over-year double-digit percentage growth in operating income and earnings per share for Verizon for the period ending June 2013, especially in the retail postpaid segment.

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"Verizon’s consistent strategic investments in wireless, FiOS and global networks drove strong financial performance in the first half of 2013," said Lowell McAdam, Verizon chairman and CEO. "Having posted double-digit earnings growth in five of the last six quarters, we are focused on continuing to provide the best portfolio of products on the most reliable networks; capturing incremental revenue growth in broadband, video and cloud services; and sustaining our earnings and cash-flow momentum."

Author

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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