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.
“Verizon’s strong first-quarter results demonstrate our capacity to compete effectively, while executing on our plan of continued network leadership and seeding new growth markets in mobile video and the Internet of Things,” said Chairman and CEO Lowell McAdam.
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.
