Verizon Q3 2013 Results: 1.1M Subscribers Added, $30.3B In Revenues
Verizon Wireless has reported their quarterly results. Verizon has added 1.1 million subscribers to their wireless services, which means that they now have 101.2 million total connections. The postpaid number is at 95.2 million in that 101.2 million figure. Verizon’s revenue over the past 3 years was $30.3 billion, which is 4.4% higher than the same period last year.
Verizon announced that their 4G cover has been expanded to “over 99 percent” of their 3G network. This means that if you are able to get a Verizon signal, you should have access to LTE too.
“These strong third-quarter results reflect Verizon’s long-term investment in reliable, high-quality networks to deliver value to customers. Our unwavering focus on wireless, FiOS and strategic enterprise services has produced consistent performance, and we’ve delivered double-digit earnings growth in six of the past seven quarters. Verizon’s strategic networks form a powerful distribution platform for future growth and innovation,” stated Verizon chairman and CEO Lowell McAdam.
Verizon’s operating income increased 30% to $7.1 billion in Q3 2013 compared to $5.5 billion in Q3 2012.
Since early September, Verizon was able to successfully arrange the required permanent financing of the Vodafone transaction with a $49 billion debt offering and an agreement for up to $12 billion in term loans.