Verizon Communications achieved 14.1 percent decrease in operating expenses (Opex) to $22.316 billion in the second quarter of 2017.
Verizon said its wireless revenues fell 1.9 percent to $21.3 billion. Wireline revenues grew 1.2 percent to $7.8 billion. Fios revenues grew 4.4 percent to $2.9 billion. Total telematics revenues were approximately $220 million. IoT revenues, which include telematics, increased approximately 20 percent.
Verizon Communications CEO Lowell McAdam said: “With record customer loyalty and a clean sweep of third-party network quality results, we’re leading the way to provide customers with next-generation broadband, smart cities, telematics, media and Internet of Things services.”
Verizon revenue was $30.5 billion in line with second-quarter 2016. Net income was $4.5 billion in second-quarter 2017. EBITDA totaled $12.4 billion with EBITDA margin of 40.6 percent. Operating income margin was 26.9 percent.
Capital expenditure (Capex) of Verizon fell to $7 billion in first-half of 2017 against $7.3 billion in first-half of 2016. Capital spending for 2017 will be in the range of $16.8 billion to $17.5 billion, according to Verizon.
Since the launch of Verizon Unlimited in mid-February, Verizon reported a net increase of 614,000 retail postpaid connections in Q2. Net phone additions of 358,000 included 590,000 smartphones in the quarter, compared with 86,000 net phone additions, including 336,000 smartphones, in second-quarter 2016.
Verizon’s retail postpaid connections base grew 1.2 percent to 109.1 million, and retail prepaid connections grew 1.4 percent to 5.4 million.