Verizon 3Q07

Verizon once again reported strong results. 3Q07 revenues grew 6% to $24bn, while the operating income rose 19% to $4.2bn. The operating margins increased two points to 17.7%. Net income amounted to $1.3bn, down 34%. Verizon Wireless announced revenues of $11bn, up 14%, matching ATT Wireless revenues, and operating income of $3bn, up 18%. Mobile ARPU was $52.1, up 2%, including $10.6 from data or 20% of total ARPU. Verizon Wireless currently has 63.7m mobile subscribers, up 1.6m in the quarter. The wireline division posted revenues of $12.7bn, down less than 1%, and an operating income of $1.2bn, in a general trend of loss of retail access lines of 8% to 42.3m. Broadband connections were 8m, up 21%, of which 1.3m FiOS subscribers. FiOS now passes 8.5m households. Data and transport revenues were up by 13%to $4.6bn, while the Business unit grew revenues by 2.2% to $5.3bn.