Feeds

Verizon closes in on Cingular

An $18 billion Q2

  • alert
  • submit to reddit

Security for virtualized datacentres

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

Protecting against web application threats using SSL

More from The Register

next story
Brit telcos warn Scots that voting Yes could lead to HEFTY bills
BT and Co: Independence vote likely to mean 'increased costs'
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
New 'Cosmos' browser surfs the net by TXT alone
No data plan? No WiFi? No worries ... except sluggish download speed
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Blockbuster book lays out the first 20 years of the Smartphone Wars
Symbian's David Wood bares all. Not for the faint hearted
Bonking with Apple has POUNDED mobe operators' wallets
... into submission. Weve squeals, ditches payment plans
This flashlight app requires: Your contacts list, identity, access to your camera...
Who us, dodgy? Vast majority of mobile apps fail privacy test
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.