Verizon records subscriber increase in Q4 2015
Verizon Communications has posted higher-than-expected estimates for its revenue in Q4 2015, adding 1.5 million customers in the quarter.
The company generated revenues of $34.25 billion in the three months ending December, a 3.2% increase from the previous year, surpassing forecasts of £34.1 billion.
“In 2015, Verizon delivered strong and balanced results in a dynamic competitive environment while returning more than $13.5 billion to shareholders. At the same time, Verizon built and acquired next-generation network capabilities that position the company to be an innovator in the digital-first mobile world in 2016 and beyond,” said chairman and CEO Lowell McAdam.
Verizon Wireless posted total revenues of $23.7 billion in the fourth quarter, up 1.2% compared with the previous period. Equipment revenues increased to $5.4 billion, up from $4.2 billion as more customers chose to purchase devices with installment plans.
Verizon also recorded growth in the Fios fibre business. It added 99,000 Fios internet connections in Q4, 20,000 video connections and 51,000 residential digital voice subscriptions.
According to the company, acquisitions of AOL and Millennial Media have added capabilities that have significantly bolstered Verizon’s strategy with cross-platform consumer and advertising offerings, particularly in mobile and video.
Verizon also noted its $28 million investment in spectrum licences and capital for future network capacity.
“Verizon embraced transformational change in 2015, and in 2016 the company has a huge opportunity to drive a new era of growth in our industry,” said McAdam.