Fresh from Verizon’s Chocolate-phone sugar high yesterday, the company reported its second quarter earnings today of $1.6 billion on revenues of $22.7 billion. Earnings were down from the second quarter of last year, but the company said revenues were up 25.6% from the year earlier.
Verizon can thank wireless for it’s pretty good quarter, which brought in revenues of $9.3 billion for the second quarter, up 18% from the previous year and added 1.8 million net new users. A bigger deal was the company grew its wireless data service revenues to 12.9% of total wireless service revenues, which brough in $1 billion for just wireless data. That’s a pretty big deal for a wireless operator in the U.S., though the percentage is not that impressive for carriers in countries in Europe and Asia.
On the wireline side, Verizon gave some new details of its fiber service, which added 111,000 Fios Internet users in the quarter to bring the total to 375,000. Verizon’s fiber-to-the-premises, or FTTP, is only available to 4.5 million premises, and is planned to be built out to a total of 6 million premises by the end of the year. The company might be spending aggressively to build out both its wireline broadband and wireless networks, but the company really has no other choice as its traditional phone service is dropping off rapidly — a 7.4% drop in phone lines from the previous year.