US telco Verizon’s Q2 figures show accelerated revenue growth and improved margins across its business groups, leading to a strong earnings performance in second-quarter 2011.
Chairman and CEO Ivan Seidenberg said the company continued to see strong customer demand for FiOS Internet and TV, and for cloud and other strategic services.
On a consolidated basis, Verizon’s total operating revenues were $27.5 billion in second-quarter 2011, an increase of 2.8 per cent compared with second-quarter 2010.
Verizon added 189,000 net new FiOS Internet connections and 184,000 net new FiOS TV connections in second-quarter 2011. Verizon had a total of 4.5 million FiOS Internet and 3.8 million FiOS TV connections at the end of the quarter.
FiOS penetration (subscribers as a percentage of potential subscribers) is now 30 per cent or more for both services. FiOS Internet penetration was 34 per cent at the end of second- quarter 2011, compared with 30 per cent at the end of second-quarter 2010. In the same periods, FiOS TV penetration was 30 per cent, compared with 26 per cent, respectively. The FiOS network passed 16.1 million premises at mid-year 2011.