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Verizon Communications, Inc. (VZ) Reports In-Line Q2 EPS

July 18, 2013 7:32 AM EDT
Verizon Communications, Inc. (NYSE: VZ) reported Q2 adjusted EPS of $0.73, in-line with the analyst estimate of $0.73. Revenue for the quarter came in at $27.79 billion versus the consensus estimate of $29.83 billion.

Revs in the same period last year were $28.55 billion, with adjusted EPS of $0.64.

Wireless Highlights
* 8.3 percent year-over-year increase in service revenues in 2Q 2013; 7.8 percent increase in retail service revenues; 32.4 percent operating income margin and 49.8 percent segment EBITDA margin on service revenues (non-GAAP).
* 941,000 retail postpaid net additions, up 6 percent year over year; low retail postpaid churn of 0.93 percent; 100.1 million total retail connections, 94.3 million total retail postpaid connections.
* Smartphones now make up 64 percent of postpaid subs.
* Retail connections at 100.1 million, 94.3 million are postpaid
* Retail postpaid churn was 0.93 percent in the second quarter, up 9 basis points year over year. Retail churn was 1.23 percent in the second quarter, up 12 basis points year over year.


Wireline highlights
* Consumer revs up 4.7 percent to $3.6 billion
* ARPU up 9.4 percent to $109.67
* FiOS revs rse 14.7 percent to $2.7 billion
* Addition of net 161,000 new FiOS Internet and 140,000 FiOS Video connections

For earnings history and earnings-related data on Verizon Communications, Inc. (VZ) click here.


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