Verizon sees a positive 3rd quarter

Verizon sees a positive 3rd quarter

Verizon has reported their 3rd quarter earnings and this showed that they are well on their way to hit the fourth quarter and the 2011 goals, thanks to the strength of their wireless business. The reported earnings was about $3.54 Billion or 49 cents a share on revenue of just about $27.9 billion dollars. Verizon did comment and said that they are very optimistic about the future of the company with the iPhone 4S and a bunch of new LTE devices making their mark. Also more than half of the Verizon’s 5.6 million smartphones that were sold in the third quarter were Android devices, it reported that 35% or just about 2 million iPhones.

Verizon CFO Fran Shammo made the following points on the company’s earnings conference call:
• A strike and storm outages shaved 5 cents a share from GAAP earnings. Both factors hampered FiOS installations and some enterprise provisioning.
• The company secured new agreements for cloud services with companies such as RWE of Germany, Smile Brands and the University of North Carolina.
• “Our 4G LTE deployment is going very well and we are now providing service in 165 markets covering more than 186 million POPs. With additional markets planned in November and December we are actually ahead of schedule and have already exceeded our year-end target of 185 million POPs.”

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