Verzion has published the U.S. carrier's results for Q2 2016, noting total revenues of $30.5 billion for the quarter. The company also recently finalized its acquisition of Yahoo, which will sit comfortably alongside AOL. Operating income for Q2 was $4.6 billion and the carrier announced 615,000 new postpaid net additions. Verizon now has 113 million retail connections, up just over 3% from last year.
Some highlights from the financial report:
- The composition of the 615,000 retail postpaid net adds was strong: Verizon added 462,000 4G smartphones to its postpaid base in second-quarter 2016. Net phone additions increased sequentially to 86,000, as the net gain in 4G phones was offset by a net decline in basic and 3G phones. Tablet net adds totaled 356,000 in the quarter. Net prepaid devices declined by 30,000, a significant improvement sequentially and year over year, primarily due to new prepaid pricing plans.
- The composition of the 615,000 retail postpaid net adds was strong: Verizon added 462,000 4G smartphones to its postpaid base in second-quarter 2016. Net phone additions increased sequentially to 86,000, as the net gain in 4G phones was offset by a net decline in basic and 3G phones. Tablet net adds totaled 356,000 in the quarter. Net prepaid devices declined by 30,000, a significant improvement sequentially and year over year, primarily due to new prepaid pricing plans.
- Verizon ended second-quarter 2016 with a total of 74.6 million smartphone connections. This is about 86 percent of the total phone base, with 4G devices at 82.5 percent of the retail postpaid connections base.
- Growth in 4G device adoption continues to drive increased data and video usage. Approximately 93 percent of Verizon's total data traffic is on the LTE network. Overall data traffic on LTE has increased by about 44 percent year over year.
Aside from the slight dip in revenue compared to Q2 2015, this quarter just passed looked like a solid one for the company and we're interested to see how Yahoo will help bolster future reports.
