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Verizon reports solid Q2 results as tablets offset slowing smartphone sales

22
Jul
2014

Verizon on Tuesday posted second-quarter results that topped Wall Street’s expectations as huge tablet sales offset the continued decline of cell phone contract additions. Verizon posted earnings of $1.01 per share, or $4.34 billion in profit, which is down significantly from the $5.2 billion profit it recorded in the year-ago quarter. Revenue climbed nearly 6% to $31.48 billion, however. The nation’s top carrier only added 304,000 net new cell phone subscribers in the quarter, but 1.15 million new tablet additions certainly helped to bolster the company’s results. Verizon’s full press release follows below. Verizon Delivers Sixth Consecutive Quarter of Double-Digit Operating Income and Earnings Growth 2Q 2014 HIGHLIGHTS Consolidated • $1.01 in earnings per share (EPS), compared with 78 cents per share

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