Verizon Posts Q2 2010 Quarterly Results

Tweet

It is the time once again for quarterly results, and one of the latest companies to offer up some details is Verizon Communications. Their results come by way of official press release and offer details on both the wireless and wired sides of the business.

For the sake of this post, lets begin with the wireless side.

• 1.4 million total net customer additions in Q2 2010.
• 665,000 retail postpaid net customer additions.
• Retail postpaid churn rate of 0.94 percent.
• 86.2 million retail customers with 92.1 million total customers after divestitures and conforming adjustments related to the Alltel acquisition.
• 3.4 percent increase in total revenues from 2Q 2009.
• 5.2 percent increase in service revenues.
• 23.8 percent increase in data revenues.

And moving on to the wired side.

• 196,000 net FiOS Internet customer additions with a total of 3.8 million FiOS Internet customers.
• 174,000 net FiOS TV customer additions with a total of 3.2 million FiOS TV customers.
• Total broadband and video revenues of $1.8 billion which is up 20.1 percent from the same quarter in the previous year.

And moving on to Verizon as a whole.

• $9.8 billion in cash flow from operations during Q2 which is up 29.8 percent from Q2 2009.
• $5.5 billion in free cash flow which is up 76.7 percent.
• Data revenues increased to 34.5 percent of all service revenues which is up from 29.3 percent in the second quarter 2009.

And as for some other little odds-and-end style tidbits.

• Verizon customers sent and received 180 billion text messages and “nearly” 4.2 billion picture/video messages during Q2.
• Verizon customers completed more than 25 million music and video downloads.
• As of the end of second-quarter 2010, the FiOS network passed 15.9 million premises.

Finally, in terms of the 3G growth and 4G LTE rollout plans. The Verizon 3G network is now currently available for more than 289 million people. As for 4G LTE, Verizon plans to have it available in 25 to 30 markets before the end of 2010. Lastly, the 4G LTE and 3G footprints are expected to be the same by the end of 2013. Which seems to mean if you have Verizon 3G in your area now, then you will also have 4G coverage by the end of 2013. I guess that means I have (at most) 3.5 years to wait for Verizon 4G to arrive.