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Verizon Wireless Q2 2018 Report Exceeds Analysts' Expectations

Verizon's Q2 2018 earnings report shows impressive results for the carrier's performance during the recently passed quarter.

As unveiled yesterday, Verizon was able to gain a total of 398,000 subscribers. Prior to this revelation, the company was expected to have a net gain of around 352,000.

The result of its impressive net gain from the quarter leads the way for the company to expect a revenue growth of around 5% by the end of 2018. This number factors in the carrier's investment in 5G technology and equipment that it intends to launch before the year ends.

In addition to the new subscribers it earned during the quarter, the nation's largest wireless carrier also reported its total operating revenue. Verizon, once again, exceeded expectations under this category as it gained $32.20 billion. This means the company was able to have an increase of around $2 billion year-on-year.

In Q2 alone, the company had a total net income of $4.24 billion. Since the year started, Verizon was able to earn over $8.90 billion. In comparison to this, the carrier spent over $5 billion each quarter this year on wireless equipment alone.

Unfortunately, not every aspect of Verizon's business showed impressive results during the quarter. One of the departments that did not perform well was Verizon's Fios business. During the quarter, the video service provider lost a total of 37,000 subscribers. This does not include the 15,000 loss it incurred in the previous quarter. Even though there were 43,000 new Fios internet customers, it was still 12% less than what they gained in the past year.

Despite this, Verizon still proves to be a leader in its industry. Some analysts, however, are wary on how long the wireless carrier manages to keep this streak; especially with new competition brought about by cable companies like Charter's Spectrum Mobile and Comcast's Xfinity Mobile.

It looks like it will be a pretty tight race to the top this year.

Source: Phone Arena, FierceWireless

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