Verizon proved Wall Street right Thursday, just meeting expectations for its second fiscal quarter and bringing in a net income gain of 13 percent thanks to higher-than-expected wireless subscriptions. The wireless provider earned $1.83 billion, or 64 cents per share on the quarter, up from $1.61 billion, or 57 cents per share, from the same period a year ago. Revenue increased to $28.5 billion, or 3.7 percent. The company was weaker on its landline and broadband services, gaining just 2,000 broadband customers on the quarter — its weakest numbers in four years.
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Wireless Gains Offset Weak Broadband Sales for Verizon's Q2
Posted by: Rachelle Dragani July 20, 2012 07:00 AMVerizon proved Wall Street right Thursday, just meeting expectations for its second fiscal quarter and bringing in a net income gain of 13 percent thanks to higher-than-expected wireless subscriptions. The wireless provider earned $1.83 billion, or 64 cents per share on the quarter, up from $1.61 billion, or 57 cents per share, from the same period a year ago. Revenue increased to $28.5 billion, or 3.7 percent. The company was weaker on its landline and broadband services, gaining just 2,000 broadband customers on the quarter — its weakest numbers in four years.