Verizon Scores Big in Second Quarter

Verizon (NYSE: VZ  ) reported double-digit earnings growth in both operating income and earnings per share for the second quarter, compared to the same period last year, the company announced today.

The company's non-GAAP adjusted earnings of $0.78 per share was a 14.1% increase; total operating revenues rose 4.3% to $29.8 billion; and operating income increased by 16%, to $6.6 billion year over year.

Verizon's total second-quarter wireless revenues were up 7.5%, to $20 billion, and its operating income margin increased from 30.8%, to 32.4%, over the same period last year.

Verizon's wireline segment showed an increase in FiOS Internet and video connections, 12.2% and 12.6%, year over year. Total FiOS revenues increased 14.7% year over year.

The company also announced it has "substantially completed deployment of its 4G LTE network, covering more than 99 percent of its current 3G network footprint." Verizon's LTE network is available in 500 markets in all 50 states, and covers more than 95% of the U.S. population, according to the company.


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