Verizon's second quarter profits soar, highest recorded revenue in six quarters

July 23, 2014

Verizon has posted its second quarter earnings, which saw the carrier accruing a double-digit percentage increase in operating income and earnings per share. Over the course of the quarter, Verizon has managed to add 1.4 million new postpaid wireless subscribers, up from 941,000 over the same period last year.

The carrier posted profits of $4.21 billion and $1.01 earnings per share, up from $2.25 billion and 78 cents per share in second quarter 2013. Overall revenue for the carrier was the highest recorded in over six quarters at $31.48 billion. The $130 billion buyout of Verizon Wireless from Vodafone had a significant impact in the uptick of profits.

Other highlights include a 75 percent smartphone consumer base, up from 72 percent last year. Verizon has also bolstered its LTE service during the quarter by launching an XLTE network that takes advantage of the AWS spectrum to boost bandwidth in select regions, and is in the process of rolling out VoLTE services across the country. The carrier is also bringing changes to its FiOS wired broadband service by offering upload speeds to match a customer's download speeds at no additional cost.

Interested in looking at other statistics from this quarter? Head on over to Verizon from the link below for all the details.

Source: Verizon