Verizon reported total revenue of $33.8 billion for Q2 2022, relatively flat from second-quarter 2021. EPS amounted to $1.24, compared with $1.40 in second-quarter 2021.
“As the market leader, in a very competitive industry, we are determined to improve our operational and financial performance for the second half of the year,” said Verizon Chairman and CEO Hans Vestberg. “With our network-as-a-service foundation, our new consumer mobility plans, and recent pricing actions, we are being deliberate in our decisions to improve our profitable growth opportunities today and into the future.”
“Although recent performance did not meet our expectations, we remain confident in our long-term strategy,” said Verizon Chief Financial Officer Matt Ellis. “We believe that our assets position us well to generate long-term shareholder value.”
Some highlights:
Verizon Consumer
- Total Verizon Consumer revenue was $25.6 billion, an increase of 9.1 percent year over year, driven by the inclusion of TracFone, higher equipment revenue and core wireless service revenue growth.
- 47% of the consumer postpaid phone customer base is now on 5G
- Wireless service revenue increased 10.5 percent year over year, driven by the inclusion of TracFone and growth in postpaid Average Revenue Per Account (ARPA).
- Consumer wireless retail postpaid churn was 0.93 percent in second-quarter 2022, and wireless retail postpaid phone churn was 0.75 percent.
- Consumer reported 168,000 fixed wireless net additions and 30,000 Fios Internet net additions in second-quarter 2022. Consumer Fios revenue was $2.9 billion in second-quarter 2022, flat year over year.
- In second-quarter 2022, Consumer reported 215,000 wireless retail postpaid phone net losses, due to a year over year increase in churn and a year over year decline in phone gross additions. Consumer ended second-quarter 2022 with nearly half of its wireless phone customers having 5G-capable devices.
- In second-quarter 2022, Consumer operating income was $7.2 billion, a decrease of 4.6 percent year over year, and segment operating income margin was 27.9 percent, a decrease from 31.9 percent in second-quarter 2021. Segment EBITDA1 in second-quarter 2022 was $10.4 billion, a decrease of 0.3 percent year over year. A higher contribution from TracFone was more than offset primarily by higher promotional activity. Segment EBITDA margin1 was 40.5 percent, a decrease from 44.3 percent in second-quarter 2021.
Verizon Business results
- Total Verizon Business revenue was $7.6 billion in second-quarter 2022, down 1.8 percent year over year.
- Business wireless service revenue was $3.2 billion, an increase of 3.0 percent year over year. This increase was driven by momentum in Small and Medium Business, and the best performance in Global Enterprise since first-quarter 2020.
- Business reported 430,000 wireless retail postpaid net additions in second-quarter 2022, including 227,000 postpaid phone net additions. This was the third consecutive quarter that Business reported more than 200,000 postpaid phone net additions. Phone gross additions in Business increased nearly 30 percent year over year.
- Wireless retail postpaid churn was 1.37 percent in second-quarter 2022, and wireless retail postpaid phone churn was 1.07 percent.
- Business reported 88,000 fixed wireless net additions in second-quarter 2022.
- In second-quarter 2022, Verizon Business operating income was $675 million, a decrease of 21.1 percent year over year, and segment operating income margin was 8.9 percent, a decrease from 11.0 percent in second-quarter 2021. Segment EBITDA1 was $1.7 billion in second-quarter 2022, a decrease of 6.5 percent year over year. In addition to Wireline revenue declines, Business experienced elevated device subsidies related to wireless activations in the quarter. Segment EBITDA margin1 was 22.9 percent, a decrease from 24.1 percent in second-quarter 2021.
https://www.verizon.com/about/news/verizon-reports-2q-and-first-half-2022-results