Verizon reported Q1 sales of $32.2 billion, a 0.6 percent increase compared with first-quarter 2015, and $1.06 in earnings per share (EPS), compared with $1.02 per share in 1Q 2015.
New IoT revenue streams reached approximately $195 million in first-quarter 2016, a year-over-year increase of about 25 percent.
Some highlights:
Wireless
- 640,000 retail postpaid net additions in first-quarter 2016
- At the end of first-quarter 2016, Verizon had 112.6 million retail connections, a 3.7 percent year-over-year increase, and 107.2 million retail postpaid connections, a 4.4 percent year-over-year increase.
- Total revenues were $22.0 billion in first-quarter 2016, a decline of 1.5 percent compared with first-quarter 2015 as more customers continued to choose unsubsidized device payment plans. Service revenues plus installment billings increased 1.6 percent, comparing first-quarter 2016 with first-quarter 2015.
- Verizon ended first-quarter 2016 with a total of 73.8 million smartphones. This is 85 percent of the total phone base, with 4G devices more than 81 percent of the retail postpaid connections base.
- Approximately 92 percent of Verizon’s total data traffic is on the LTE network. Overall data traffic on LTE has increased by approximately 50 percent year over year.
- Wireless capital expenditures totaled $2.2 billion in first-quarter 2016 and are expected to ramp up throughout the year.
- Fios remains the growth driver in wireline segment
Wireline highlights
- Verizon added 98,000 net new Fios internet connections and 36,000 net new Fios video connections in first-quarter 2016.
- Total Fios revenues grew 5.0 percent, to $3.5 billion, comparing first-quarter 2016 with first-quarter 2015, including consumer Fios revenue growth of 4.7 percent.
- In first-quarter 2016, consumer revenues were $4.0 billion, an increase of 0.8 percent compared with first-quarter 2015.