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

By Harish Jonnalagadda
published

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 (opens in new tab)

Harish Jonnalagadda
Harish Jonnalagadda
Senior Editor - Asia

Harish Jonnalagadda is a Senior Editor overseeing Asia for Android Central, Windows Central's sister site. When not reviewing phones, he's testing PC hardware, including video cards, motherboards, gaming accessories, and keyboards.

84 Comments
  • Hopefully a considerable number of phones sold are windows phones..
  • seeing the market share of WP in the US I guess not
  • Combined the three below - 
    -- McLaren has been shelved 
    -- No signs that 930 is coming to US (although Lumia Icon is essentially Verizon exclusive version of it)
    -- Verizon launched a new ALLSET prepaid plan with LTE  I am adding to WP and Verizon coffers by buying the Lumia Icon (930 essentially) and switching to Verizon!
  • Verizon doesn't have any low end WP's other than a Sammy and 8X. They'd probably have sold a shitload of 520's if they had ever carried them.
  • Verizon has the best network by far around me (in Ohio), you would think they would make a killing selling Lumia 521 and/or Lumia 635s on their no contract network that is now LTE.  I am hoping we will see new phones for Verizon soon.
  • You can always get an old 822 (mid range) I'm happy with this phone for another year. I got my phone for free (2yr contract) I also have developer preview on it. Works great.
  • Definitely
  • lol lets be real
  • Well here's Rule #1: Microsoft needs to get its butt off the carrier eclusive ish.
  • About 6% market share, from analytics last I saw. Nowhere near where it should be. :(
  • Good for them..
  • Good and informative post for those that care.  But I doubt many people on a windows/WP site (especially those outside USA) would care for an information about Verizon without any relation to windows/WP.
  • Then don't read this article...
  • Thats beside the points.
  • Im sorry to be that guy but what does this have to do with windows phone? Or even Microsoft? Are you going to comment on all the words carriers? Are most of your readers ever Americans? Please guys focus on news that directly relate to at least Microsoft.
  • agree
  • Off topic article
  • In case you didnt realise Microsoft is mainly focused on the US
  • In case you didn't realise Verizon doesn't mainly focus on WP+If Microsoft mainly focuses on the US then why are WP being sold more in India and Brazil??
  • Verizon is putting quite a bit of stock in WP. There are three high end WP's in the US market right now. Two 5"'ers and a phablet. Verizon has exclusivity on both of the 5"'ers.
    They are also the biggest carrier in MS' home market.
  • Ya, except they don't market windows phones at all....... Almost every Verizon store has no windows phone section, no placards, no posters, no ads, the Icon, which is the flagship phone right now sites in the back of stores next to old shitty android phones that no one buys, the sales people know nothing about the windows phones, they even steer people away from them....... Until this changes, the market share will be stuck in limbo.
  • All three Verizon stores in my local area have a WP section. The staff knows shit about them but they do have dedicated sections. But, the problem with Verizon stores I that they are more like individual phone stores with Verizon's name on them. The store owners push inventory for profit, they don't care about long term or marketing.
  • With all due respect, I am not seeing Verizon putting much stock in WP, at least the kind of stock in WP that I feel comfortable relying on.
  • I could answer you this questions if you  understand the difference between absolute and relative.
  • Verizon is the only US carrier that is currently selling the top Windows Phone (Lumia Icon/930)right now btw- so I can see the relevance here.
  • And this is what is wrong with the mobile telecom industry and why prices cant be lowered/ The American people constantly reward Verizon.
  • Verizon continually upgrades their network unlike the other carriers who do the bare minimum.
  • Exactly ;) the network is the main reason I stay. No other carrier comes even close.
  • Okay?
  • when you guys are done reading the entire internet, let us know.  Otherwise, I have a suggestion...skip the articles you dont want to read? also, Verizon sells windows phones...durrrrr
  • Dozens of carriers worldwide sell windows phones, you don't see them being mentioned do you?
  • Am I missing something? WPCental posts articles all the time about carriers in other countries besides the US. I do to those articles what you should probably do to this which is skip it since you don't find it interesting.
  • They mention other carriers when its news directly related to WP (as it should be). My point is that this isn't at all. It does not even have any wp numbers, if it did, the news would be relevant.
  • I have to disagree. I've seen articles that cover LTE rollouts and mergers for carriers outside of the US. It could be argued that those aren't directly related to WP either. Either way, it's still pointless to click on the article if you feel it doesn't apply to you.
  • Yes, I see them mentioned all the time.
  • Haters gonna hate, potatoes gonna potate.
  • LOL...?
  • What Verizon buy out by Vodafone? Educate me.
  • Google it on Bing
  • Educate yourself on some grammar too Posted via Windows Phone Central App
  • Grammar? Do you have a problem with something I wrote?
  • Take down tmobile who doesn't know the word loyalty to their windowsphone customers
  • I'm confused, why was the article posted ?? I see no link to Microsoft or windows phone, to now balance the post please report O2 earnings in the Uk and other carriers in other countries
  • Still no FiOS app for WP ☹
  • Or for Windows - it's embarrassing. Maybe they should use some of that record profit to hire some developers for a universal app,
  • Given the relation of this article to Windows Phone, I would like to read news about Vodafone Greece, which happens to sell a special edition (32gb) Lumia 925.
  • Glad to hear. I'm loving my Icon on VZW. And to the people who are complaining about this article, you are allowed to skip it if you don't want to read it.
  • Same for me the Icon is Iconic on Verizon.
  • Agreed on all fronts. :) Love the company, but definitely love my Icon as well! Best. Phone. EVER!
  • Brb, dredging some care from give-a-damn bay.
  • Lets go Verizon!! XLTE is amazing.
  • +Icon! I got 33Mbps down and 11Mbps up last night on my speed test w/ XLTE. Frekkin awesome!
  • Hmm all this article does is point out how bad Verizon is ripping people off. They didn't add more customers than T-Mobile. Still look at all that $$$ Verizon made. 2 lines on Verizon cost more than 5 on T-Mobile. Plus T-Mobile is Unlimited data. Posted via Windows Phone Central App
  • Yeah Verizon is crazy expensive. Having higher profits is hardly a surprise when you cost the most.
  • It is surprising. Normal market forces don't typically reward those with the highest cost.
  • Apple gets plenty rewarded, and they are never the lowest cost. Must be the new trend. I sadly have a friend or two that buys things from a mall simply because it costs more there. I don't say anything though, I live and let live lol
  • Some people are stupid and then again, some market items just have a good cost:benefit ratio. I pay more at Target so I don't have to put up with a certain demographic at Walmart.
    I probably wouldn't still be on Verizon if it wasn't for my unlimited plan.
    Something I have noticed though is that every company I work with uses Verizon. I'd be curious to see their business:personal ratio compared to other carriers. I'd be willing to bet that's where their income is coming from mostly.
  • Unlimited data is not needed anymore. Trust me, you don't. It's easily managed through connecting in WiFi locations and your work. I'm lucky if I use 4GB in a month. As for unlimited data? It'll go away on your guys' networks too. :) a carrier eventually has too much traffic to support all-you-can-eat. Forewarning of what ultimately will happen in the long-run.
  • I totally disagree. I use a Verizon jetpack at work. I work 14 days a month and i always go over my 5 GB. I don't stream music or movies either. Apps, websites and a little YouTube only.
  • It's possible, although it's tricky with desktops and laptops with how they pull data. Windows 8, for instance, can set your laptop, desktop, or tablet as a metered device so updates and such are not downloaded from your jetpack line. Also, there's a data calculator which might assist you here on VZW's site to help you gauge your overall usage .I do about 3.8GB, and that's with a USB modem, tablet, and phone. Hope this helps...
  • Dude not sure what you're talking about. I only use my jetpack to run my Samsung ATIV S and Note 3 phones at work only. NO LAPTOP, TABLET OR COMPUTER. I use 5 -6 GB at work and about 7GB away from work. If anyone has a Unlimited plan I'd strongly advise keeping it. Unless you just check email. There is a reason Verizon did away with them. Most people will go over and they'll make extra $$$$. That's exactly why they making so much money.
  • Then why do you have a Jetpack? The ATIV S runs on another network entirely also. Isn't that a Sprint phone?
  • I have a Rogers unlocked pentaband ATIV S that I use on T-Mobile. My job uses Verizon and has boosters set up around the plant. T-Mobiles signal is weak in the plant. That's why I use a jetpack at work only.
  • If I trusted you, I couldn't do what I wanted. Work filters out Onedrive and a myriad of other sites. My unlimited is freedom from your bullshit inconveniences. I don't have to pull over for WiFi's. The radio station in my car is Xbox Music. I can imagine how well that would sound bouncing from wifi to wifi. I run well over 20 GB/Mo on average.
    But seriously, who in the hell are you to tell me what I need or don't need?
    When it fills up and the price is no longer worth it, I'll decide then and only then. Until that day, I'm going to keep driving my half a mile a gallon monster truck on the airwaves and pissing off the commies.
  • I don't have inconveniences, and I did not mean harm or "need", as you eloquently put it. :) if I wanted to, I could EASILY use 40-50GB in a month. (And I apologize if you thought I meant malice in my words; there ain't a mean or rude bone in my body...I'm too skinny to put that up ;)) But I changed how I use my phone. It's doable, I promise, again coming from someone who went from 45GB in a month to just under 4. That was my point. I stick with VZW because of its network; unlimited data (or tiered data, for that matter) on any other network is inconsistent.
  • Accepted, sorry for the harsh response,but I have no reason to change my habits. If anything, I'll drop my home internet and increase my wireless usage. I buy tech to make my life easier. Having to manage data would be an incredibly cumbersome hassle. There's not a single device out there I'd do that for. It weren't for the unlimited though, I'd have jumped for a 1520.
  • Fair enough :) and hey, unlimited data would be nice. I got rid of mine too quick. Le sigh.....
  • Some love for Holland please! They announced Cyan here first at the Benelux
  • if they had stats showing us how much is WP then data would be helpful
  • Was hoping for news about Verizon already plans on launching the Cyan Update for the Lumia 928 and Icon......
  • Under testing still. It is planned to launch.
  • The Icon is responsible for all this :)
  • Yyyyeah, I wish. :( icons are sooo 2010. Tiles are what's in!
  • So that means free upgrades for everyone?
  • Coincidentally, I tried to get an early upgrade today via chat, in store, and via *611 with Verizon.  My update is on Monday (6 days) and they wouldn't give me the early upgrade. So, nope...no free upgrades for everyone.
  • You had me at FiOS. Waiting on expansion. Unfortunately bright house/tw has the city by the balls
    Posted via Windows Phone Central App
  • the more you hate it, the stronger it gets :)
  • I guess that's why T-Mobile added more than Verizon. Everybody hates them.
  • And I'm the one with the Icon...
  • I'm not surprised that Verizon is showing record profits, they grossly overcharge! Their More Everything plan is ridiculous, more cost more cost more cost. My family just left them for T-Mobile, less than half the cost with unlimited everything and no overages, ever.
  • "If this article doesn't pertain to me directly, I have to comment on it and ask why it's here.  Why?  Because I'm an internet narcissist."  Anyway, here's to hoping that WP contributed to this and Verizon continues to grow it's WP offerings.  I'm a customer and, as much as I complain about there prices and policies, the service is really good and as a new Icon owner, it's great to have the best WP and best network.  I didn't think this would ever happen.  :D
  • I've been a Verizon customer for 13 years, a Windows phone user since WP 7. The workers don't push Windows phones because they get a higher commission for pushing Android and iPhone. My friend works for t-mobile, says they get very little of a commission off Windows phones. I had to buy my recent 928 on eBay because Verizon didn't want to sell me one! I went to two different stores to buy 2 Lumia 928's. Both salespeople laughed at me as I walked out the door with cash in hand. I called Verizon and complained and they said I would get a $20 bill credit. I reluctantly accepted it, but when I got the credit, it was $15! Verizon, my hero!
  • Ya with what im charged every month its a no brainer
  • We (Americans) have got to be the dumbest wireless (cell/wifi) users on the planet. My brother recently moved to Spain and he isnow paying 1/3 what he was paying here in the US for the same service. He was on Verizon here. I just changed to Consumer Cellular  from AT&T and am now paying almost 1/2 what I was paying before and can change or drop my service every month. I WAS WITH ATT 9 years. Funny thing is Consumer Cellular uses ATT's network and phones. Boy are we dumb asses.