Verizon swung to a $198 million ($0.07 per share) loss in Q2 from a profit of $1.48 billion ($0.52 per share) last year on charges related to buyouts taken by 11,000 employees. And while revenues declined very slightly, it ended the quarter with 92.1 million subscribers after adding 1.4 million total net customers during the period. That includes removing a net 2.1 million customers in connection with divestitures related to the Alltel (NYSE: AT) acquisition. In comparison, AT&T’s earnings showed it finished Q2 with 90.1 million subscriptions, thought it attracted more additions than its rival, adding 1.6 million customers.
The wireless segment posted a 3.4 percent increase in revenues in Q2. Some highlights:
– The average amount of revenue generated by each subscriber was a little better than flat over Q209 to $51.56.
– The revenue from data customers was up 19.4 percent year over year to $17.85.
– Wireless operating income margin was 30.3 percent.
On the wireline side, Verizon had 196,000 net FiOS Internet and 174,000 net FiOS TV customer additions. Overall, it ended Q2 with 3.8 million total FiOS Internet customers and 3.2 million total FiOS TV customers. Additional highlights included:
– Total wireline broadband and video revenues were $1.8 billion in the quarter, up 20.1 percent.
– Revenue from each customer averaged out to $80.76 for wireline services, up 11.4 percent compared with second-quarter 2009. ARPU for FiOS customers was more than $145.
Comments have been disabled for this post