Feeds

Verizon closes in on Cingular

An $18 billion Q2

  • alert
  • submit to reddit

Eight steps to building an HP BladeSystem

Verizon booked $2.11bn of profit on revenues of $18.57bn in 2Q. As an added bonus, CEO Ivan Seidenberg didn't make any howlers - but then he left the talking to his CFO.

The $1.6bn sale of Verizon's Hawaiian business added $330m to the bottom line in the quarter ending June 30.

Verizon's jointly-owned mobile network, Verizon Wireless, took the credit for the quarter, adding 1.9m subscribers in the three months. The group saw revenue of $7.8bn, up 15 per cent on a year ago, and not far behind the wireline group, which, while still the largest part of Verizon, continues to slip.

Wireline has lost over half a million subscribers, or 5.5 per cent of its existing business. DSL and cable continue to grow, however, up 44 per cent from a year ago with 4.1m accounts signed up.

"We're growing vertically instead of horizontally," said CFO Doreen Toben.

Verizon Wireless now boasts 47.4m subscribers, just behind Cingular which reported its numbers last week. Cingular has 49.1m users, but Verizon can claim lower churn (1.01pc of retail postpaid) and ARPU of $49.42, a shade under the leader.

In a conference call, CEO Ivan Seidenberg credited the cellular growth to a refreshed plans and new handsets coming on stream.

Verizon hopes to wrap up the acquisition of MCI - the most tedious acquisition merger of the year - by the end of the year. ®

Related stories

Supreme Court wallops telcos with a large cableco favor
Our phones don't work - Verizon boss
Cingular's indigestion could be worse

Securing Web Applications Made Simple and Scalable

More from The Register

next story
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
Apple orders huge MOUNTAIN of 80 MILLION 'Air' iPhone 6s
Bigger, harder trouser bulges foretold for fanbois
Bring back error correction, say Danish 'net boffins
We don't need no steenkin' TCP/IP retransmission and the congestion it causes
GoTenna: How does this 'magic' work?
An ideal product if you believe the Earth is flat
Telstra to KILL 2G network by end of 2016
GSM now stands for Grave-Seeking-Mobile network
Seeking LTE expert to insert small cells into BT customers' places
Is this the first step to a FON-a-like 4G network?
Yorkshire cops fail to grasp principle behind BT Fon Wi-Fi network
'Prevent people that are passing by to hook up to your network', pleads plod
BlackBerry: Toss the server, mate... BES is in the CLOUD now
BlackBerry Enterprise Services takes aim at SMEs - but there's a catch
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.