Verizon's second quarter profits soar, highest recorded revenue in six quarters

By Harish Jonnalagadda on 22 Jul 2014 07:47 am EDT

Verizon has posted its second quarter earnings, which saw the carrier accruing a double-digit percentage increase in operating income and earnings per share. Over the course of the quarter, Verizon has managed to add 1.4 million new postpaid wireless subscribers, up from 941,000 over the same period last year.

The carrier posted profits of $4.21 billion and $1.01 earnings per share, up from $2.25 billion and 78 cents per share in second quarter 2013. Overall revenue for the carrier was the highest recorded in over six quarters at $31.48 billion. The $130 billion buyout of Verizon Wireless from Vodafone had a significant impact in the uptick of profits.

Other highlights include a 75 percent smartphone consumer base, up from 72 percent last year. Verizon has also bolstered its LTE service during the quarter by launching an XLTE network that takes advantage of the AWS spectrum to boost bandwidth in select regions, and is in the process of rolling out VoLTE services across the country. The carrier is also bringing changes to its FiOS wired broadband service by offering upload speeds to match a customer's download speeds at no additional cost.

Interested in looking at other statistics from this quarter? Head on over to Verizon from the link below for all the details.

Source: Verizon

Harish Jonnalagadda Harish Jonnalagadda "Newsroom Warrior for Mobile Nations" 50 (articles) 0 (forum posts)

Reader comments

Verizon's second quarter profits soar, highest recorded revenue in six quarters


More reasons not to lower their prices! Yay!

via CB10 - CH(s): (C0012477B , C003B32E9) - OS 10.2 Rogers

And they act like BlackBerry went out of business when you walk in the store.

All the while - when you look at their website - the "Best Rated / Most Recommended " smartphone on their shelves is the Z30.

Not only will they not recommend it - if you ask they will try to talk you out of it..

Someone please share a different experience with us when they bought their Z30 from Verizon....


Founding Member of "Club Z30 "..... the most exclusive club in mobile

My experience is pretty good...kind of. Only because my Verizon people know me, and they know I am a BlackBerry hore, and they know I am getting the next BlackBerry...whichever one that is. (currently on the Z30).
So I'm just hoping they will have the Passport in a timely fashion.

Posted via CB10

Sorry my friend, I believe all of our experiences here in the States walking in a Verizon store and inquiring about Blackberry are pretty much all the same unfortunately.

#poweredbyblackberry Z30

I found the same response when BB10 first launched. I went to a T-Mobile, AT&T and Verizon store and found every single employee there pushing Androids and iPhones on me when i came in specifically looking for a Z10. One guy even flat out said: "Why do you even WANT a BlackBerry. Don't you know they're going out of business". No promotional banners placed, BlackBerries placed at the back of the store, mis-priced, mislabeled... Carriers just don't care to advertise or carry BlackBerry devices.

"Thanks" for all of your feedback....I am sure there are a ton of other horror stories out there, regarding, attempting to purchase a Blackberry in a USA carrier.

That's why I really like Chen selling Z3's all over the other side of the planet. Get sales numbers and market share up will create a positive buzz around BlackBerry.

The other suggestion is to have BlackBerry outsource purchases of BlackBerry s through

Enable people to make payments on new phones. Pretty sure that would not be that difficult to do....

Founding Member of "Club Z30 "..... the most exclusive club in mobile

You know my story....T-mo rep hates BlackBerry...T-mo rep gets a free Q10 as part of the champion/seeding program, T-mo rep starts using it and 2 hours in decides to sell Galaxy S3 next day...T-mo rep sells all BlackBerry devices in store and has other stores ship remaining devices and sells all of those too, flash forward one year later T-mo rep decides to purchase Z30 from Amazon since T-mo was not going to carry it....T-mo rep loves it and can't wait for Classic and or Z50.

Swiped via CB10 with my T-Mobile USA (Only T-Mo rep still pushing  ) new  BlackBerry Z30 (STA100-5), son! The Thor's Hammer of phones! Member of "Club Z30 "..... the most exclusive club in mobile. Once you go BlackBerry, everything else is wack-berry! #longestsignatureeverthatishortenedabit

I bought my Z10 on the website, but the sales rep I talked to online was extremely helpful and actually promoted the Z10, saying that is the phone that he has. So, I guess I was one of the few that had an actual pleasant buying experience. From now on, I know to buy my future BlackBerries online.

 OS 100-4/Verizon Z10

I bought over the phone from T-Mobile. The guy on the other end said it was a great phone and talked to me about the playbook (which I told him was not so good but with BB10 coming... oh wait...) and got my BlackBerry ordered no problem. Said he was a phone enthusiast and the worst thing about working for T-Mobile was buying all the phones that come out since he'd want every single phone he sold. I believe him, that's a true enthusiast. Probably a rare case considering true enthusiasts are hard to find.

Posted via CB10

I stopped by a local Verizon store around Christmas to check out a Z30 and the first thing the manager told me was "You don't want that". That pretty much sums up the attitude of the US carriers toward BlackBerry. We shouldn't have to haggle with the reps just to look at the phone we want. SMH.

 Proud BB10 user. The best kept secret in mobile 

...But when I got my Z10 at first US release at AT&T the store manager was very impressed with the Z10's features and was very helpful. A young customer service rep standing nearby didn't seem too impressed at the start and he looked at me as though I was crazy for getting a BB. When the manager and I were chatting about the Z10's unique features the CS rep looked as though he never even heard of or saw anything on the Z10. He probably never even picked one up before. You could tell he would never recommend a BlackBerry to a customer even if the features made it stand out. What a shame. It sucks that AT&T doesn't carry the Z30.

Here in the US, went on the day of Z10 launch to a local AT&T store.

Asked for a Z10, but the customer rep knew nothing about she took me to the store manager. He went all "OHHKAY" on me, but said I could get a phone only if I got a NEW plan, meaning I couldn't get a phone even for full price (which I was willing to pay since I wasn't up for an upgrade anytime soon) on my existing Family plan. He said that he couldn't sell Z10 to a line on an existing plan for the first 2-3 days after the launch since there could be demand from customers who might be willing to get a new plan. Now, it was around noon and I was the first person in that store to ask for Z10 anyways, yes I Confirmed. So I don't know what kinda "demand" was he expecting anyways.

Then, I called up AT&T Customer Care and asked what could be done. He referred me to another AT&T store in the without much hope I went there. Around 2pm when I got there, I was told that they still hadn't received any Z10s. Oh well...

I went back home and got a call from them around 3 hours later saying that they had finally received the phones. I told them about my situation and they did not seem to care much about whether it was a new or an existing plan. But the sales girl was surely surprised by my eagerness to get Z10 and ONLY Z10. Though she was sweet enough to apply some employee/random discount (which I didn't understand since I was too engrossed in my new phone) and saved me some $150.

One can only wonder, how much business has BlackBerry lost due to this BS that the service providers have been dishing out!!


Seriously though. I was thinking of making the move months ago but damn, those prices are ridic.

Posted from my BlackBerry Q10 on AT&T

And that is why I'll stick to T-Mobile. Practically half the price for 95% the service. At least for the area I'm in 98% of the time.

I'll keep the premium and suffer the 2% of the time when I really have worse service.

Posted via CB10

They offer every BlackBerry

Loving my black Q10 and white Z10 and ordered the white Z30

And they still can't pay the few thousand to upgrade their infrastructure for netflix. The biggest freakin crooks ever. I will never be renewing a contract with them.

Posted via CB10

Verizon is still too expensive for me. I guess I'm still the only one in America stuck in the recession and want to save a buck.

Posted via CB10

With that kardashian app on track to make $200M this year, you'd think people have money coming out of their ears.

No man the whole world is in recession. If Argentina defaults (Christina the commie biatch) end of this month we will see a substantial market sell off after. This possibly could be the start of the yellen collapse that we all fear:(

Posted via CB10

I shopped around before my most recent contact and I got a much better deal sticking with AT&T over Verizon. AT&T's coverage is much better where I live in NY since Verizon has quite a few areas of spotty coverage & slow data speeds. T-Mobile and Sprint's coverage is even worse than Verizon.

 Proud BB10 user. The best kept secret in mobile 

In my area if you want good service.... you use Verizon.

What's really sad is even if Sprint and T-Mobile merge... they seem to have towers in the same places so I'm pretty much stuck with the high cost of Verizon. AT&T is slightly better than either of them, but Verizon covers a lot of the more rural areas.... and I live out of town.

Same for me, and a lot of my customers are in remote places. I have some of my colleagues ask why I pay Verizon's higher rates. My answer is always three things: coverage, coverage, and coverage.

Profits are Good, means people have jobs and they are spending money to bring the strongest service verses the others.

Remember people will pay a bit more for much better service in anything service or products offered. Price is not only the only deciding factor.

I have had Sprint for 15 years and feel I should own part of this crappy service, the customer support is Great but the coverage and dropped call is mind boggling. Having my Verizon Z30 with a ATT sim card in it there was only a few places it lost a signal on my trip to West Texas in to New Mexico and have had full bars and in a few spots got LTE.

If Verizon did not spend to expand and bring new technology you all would be pissing on them and calling for their heads, if only Sprint and TMobile and the others followed their lead maybe the cost would go down!

I think the prime issue is Verizon has WAY more cash on hand to expand with than either T-Mobile Or Sprint. Can't speak for Sprint but T-Mobile has a pretty robust network now. It's just coverage along expressways and out in Iowa and rural places. I spend all my time in LTE covered cities so I am unaffected.

Posted via CB10

Why the f**k r we talking about Verizon here with a picture of Q10 in the article? Seriously CrackBerry, if u dun have anything BlackBerry related, then just stfu..

Posted via CB10

I would have used different words, but yes, I agree with the message. The word BlackBerry isn't even in the article.

Bla1ze, please consider filtering these non BlackBerry related articles in the future.

Because I live in a rural area and the other carriers offered here have many dead zones. I hate paying more when there are cheaper monthly services, but you would understand if you were the one having to drive miles then park and stay in one place to make a call. Or have an emergency and realize you can't call for help because you have no service. Due to rapid population growth and increased crime it would be foolish to risk my safety by driving around with a phone I can't rely on when I need it to keep me safe.

Posted via CB10

Apparently you are ignorant since Verizon does not throttle or cap unlimited 4G LTE data plans.

They are the only carrier in the US who doesn't.

Posted via CB10

I'm on Verizon with an unlimited data plan but boy O' boy how I hate going into a Verizon store asking about a BlackBerry!

 BlackBerry Q10  Keep The Faith 

Surprise. Surprise. The money-grubbin', overpriced, nickel&dime you with fees, Big Red is seeing soaring profits!

(not to mention having probably the best service since they own all of the infrastructure). Grr!

I like my coffee BlackBerry Black! What?

Don't give a poo. Make this a CB article by finding out how many vastly superior BlackBerry 10 devices had been sold.

I am not impressed with Verizon.. I only moved to then for the Zed30 - from T-Mobile. T-Mobile gave me 20-35 Mbps. Verizon't "gives", on average, 5Mbps. Same number of bars.

Posted via CB10

I still want to know what keeps Verizon from lowering their prices. If they did that, they would squash the competition and have even more profits. Think about it. The best service with the best price? The competition would lose half their subscribers each, at least. Are they afraid their network would crash from the sudden rush of new customers? Is someone behind the scenes giving them an incentive to stay where they are because, if Verizon did that it would be like a monopoly on the market? Hmmm

Posted via CB10

Verizon will lose some of those gained customers. There was a mass migration by us cellar customers because of the way us cellular had jacked up their billing. I was one of them and I know several people here in my small community that did the same. If I could get a BlackBerry from them I'd go back now that they have their billing crap fixed.

Posted via CB10

Great, now how about rewarding customers who made this possible with lower rates? Oops, forgot...this is America; the great money grab!

Posted via CB10

No carrier will be offering the passport to consumers, not even Verizon. You'll have to wait for the shop BlackBerry route which will probably have it up on its site in 2015 if we're lucky.

Poetry in Motion

Hi Freddy,

I am also frustrated with a distinct lack of enthusiasm for blackberry compared to their darling samsung.

At least online I was able to get my Q10 free with a contract.

I really like the idea of how my Q10 is able to use the xlte service, for faster data transfer.

However, verizon is sooOoo stingy with data. The net result is that xlte allows me to reach my data limit... faster.

If they don't change when my contract is finished... I will be finished with them.

Posted via CB10

If you didn't ask, they didn't tell you that you could've kept your unlimited data plan- if you bought your next phone outright, instead of upgrading to a discounted device with a renewed contract.

"Not a single sale in the past 6 months", said Mike. He is the BB rep at the Verizon store in Cypress, Ca.

I had the same experience in Houston. Went into the store to purchase a Q10. There was one Q10 over in the corner by itself with two or three of the "dumb" phones (basic cell phones like for tweens).

Went to the counter and the reps act incredulous "you want THAT?". They know nothing about the instrument or its features. Iphone or Droid they are all over it. The twenty something reps in these stores are BlackBerry's worst enemy.

BlackBerry has got to figure out a way to incent these carriers to push their product.

Posted via CB10

They really count on folks not asking to keep their existing plan.
If you currently have unlimited data with Verizon, don't upgrade or renew. Keep your plan. Order your phone online and simply activate it when it arrives.
They will switch you to a month to month plan and you're grandfathered in.

Posted via CB10

Im not renewing my contract revenuebhigh service quality and call qhality down!!!!!!! Fuxk verizon. And they dont promote blackberry double fuxk

Posted via CB10