Verizon earns 5.4% more in the third quarter by reaching $ 5.337 billion

Verizon has reported a net profit of $5.337 billion in the third quarter of 2019, which is equivalent to a 5.4% increase compared to the same period last year.

“Verizon continued with momentum in the third quarter due to the solid volume of mobile lines in the consumer and corporate segments, while achieving strong financial results,” said the president and CEO of the company, Hans Vestberg.

Telecom billing between July and September stood at $32.894 billion, 0.9% more.

By business segments, revenues from services provided grew 1.8%, to $27.753 billion, while those generated by the sale of mobile phones contracted by 4%, to $5.141 billion.

On the other hand, costs fell 0.9% in the third quarter, to $24.714 billion. From that figure, the cost of services grew by 0.8%, to 7.902 billion dollars, while the cost of the devices sold contracted by 0.1%, to 5.482 billion dollars.

On the other hand, general and administrative costs remained practically stable at $ 7.220 million.

As of September 30, 2019, Verizon had 118.65 million mobile phone customers, of which 4.18 were prepaid line customers. In this way, the company added 520,000 clients compared to the third quarter of last year.

The firm also registered 14.14 million fiber optic customers (83,000 less), 6.96 million broadband customers (7,000 less) and 10.96 million fixed telephone users (259,000 less).

Sign Up for Our Newsletters

You May Also Like

Microsoft launches new cloud service to analyze corporate data

Microsoft Corp announced on Monday a new service designed to help large…

Iberdrola cuts 2.1% of its world production in the first quarter

The Iberdrola group cut 2.1% of its world production in the first…

At least 22 companies will bid for 20 oil blocks in Colombia

At least 22 companies are qualified to submit bids for 20 blocks…