Wireless and FiOS broadband efforts again proved to be the growth engines for Verizon Communications, as the telco posted second quarter earnings marked by a 12 percent boost in profit over last year's second quarter to $1.88 billion, or 66 cents per share. Revenue hit $24.1 billion. Verizon Wireless showed revenue growth of 12 percent on data service revenue growth of 45 percent, along with net subscriber additions of 1.5 million for the quarter.
Meanwhile, the FiOS broadband network did its parts to strengthen Verizon, too. The company added 187,000 FiOS broadband customers during the quarter, and about 176,000 FiOS TV customers. The telco now has surpassed 2 million FiOS broadband customers and 1.4 million TV subscribers. Both service sectors helped Verizon to a 10.4 increase in revenue from its legacy wireline properties, even though landline voice revenue was down about 1.8 percent.
- see this update at The Wall Street Journal