Today Verizon reported their 2nd quarter 2019 earnings. This included a loss of 52,000 TV customers and a gain of 28,000 internet subscribers. Overall Fios saw revenues increase by 1.2 percent primarily due to the demand for broadband internet.
Here are some of Verizon’s overall highlights.
- Total revenue of $22.0 billion.
- 126,000 retail postpaid net additions, including 73,000 phone net additions and 209,000 postpaid smartphone net additions.
- Total retail postpaid churn of 0.97 percent, and retail postpaid phone churn of 0.72 percent.
- 28,000 Fios Internet net additions.
“Verizon finished strong in the first half of 2019 by delivering solid financial results while transforming the business under the new operating structure and advancing our leadership in 5G,” said Chairman and CEO Hans Vestberg. “Verizon made history this quarter by becoming the first carrier in the world to launch 5G mobility. We are focused on optimizing our next-generation networks and enhancing the customer experience while we head into the second half of the year with great momentum.”
Verizon also says they plan to continue the buildout of its 5G network after spending $8 billion on capital expenditures in the first half of 2019. “Verizon’s capital expenditures continue to support the launch and build-out of its 5G Ultra Wideband network, the growth in data and video traffic on the company’s 4G LTE network, the deployment of significant fiber in markets nationwide and the upgrade to Verizon’s Intelligent Edge Network architecture.”
Verizon will hold its earnings call later today. We will post updates if there is any news related to Fios or 5G from Verizon.
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