Verizon posts strong second quarter earnings, recording $4.2 billion in net income for the quarter, compared to. $2.2 billion in the year-ago period. Total revenues increase 5.7% to $31.5 billion.
Verizon Wireless added 1.4 million postpaid net connections in the second quarter, growing 0.7 percent over second-quarter 2013 with the bulk coming from postpaid tablets which make up to 1.15 million . At the end of the quarter, smartphones accounted for nearly 75 percent of Verizon Wireless retail postpaid customer phone base, up from 72 percent in first-quarter 2014.
Verizon Wireless continued its 4G LTE network expansion with 76% of its data traffic coming from 4G LTE network. In addition, Verizon Wireless has launched its own version of the advanced LTE, XLTE which is now available in more than 350 markets across the country.
“Verizon’s second-quarter results continue to demonstrate our ability to deliver strong customer growth, with equally strong financial performance, in a dynamic and competitive environment. We have great momentum heading into the second half of the year. We remain focused on profitable growth and on meaningful network investments that provide our customers with the best, and with a continuously improving, overall experience.”
- Lowell McAdam, Chairman and CEO, Verizon
