Verizon Communications, the infancy shareholder of Verizon Wireless, just tossed out its Q2 2010 gain, as well as distinct the infancy of a other big boys we’ve seen, this company essentially lost money over the past couple of months. All told, the mega-corp posted the $198m net detriment compared to a $1.48b net distinction this time last year, though if you were to bar “special charges” for the workforce rebate, Verizon as the total would’ve seen net increase of $0.58 per share. When focusing strictly upon mobile, Verizon Wireless managed to pick up 1.4 million net customer additions, that is 200,000 bashful of a 1.6 million that AT&T not long ago picked up. What’s funny is which one carrier has the iPhone whilst a alternative doesn’t, as well as it doesn’t take a aptitude of Peter Pan to figure out how those numbers would change if Apple’s smartphone someway picked up a CDMA airwave and headed over to Big Red. Other fun facts about VZW’s second entertain embody the 3.4 percent uptick in total revenues year-over-year, a 5.2 percent enlarge in use revenues as well as a staggering 28.3 percent progress in data revenues. With all which money flowing in, is there unequivocally a need for these newfangled caps? Consumers contend “no,” though Sir Capitalism says “yes.”

Update: We’ve been pinged by Verizon as well as given a little construction to a awful mess well known as filing quarterly reports in suitability with GAAP with varying shares of tenure. We additionally schooled which Verizon Wireless added 665,000 new net wireless business under stipulate in a before entertain, since AT&T combined 496,000 stipulate business. It’s flattering easy to have these numbers contend whatever you want them to, apparently.

Show full PR textVerizon Reports Strong Wireless, FiOS Customer Growth; Increased Enterprise Revenues; Strong Cash Flow in 2Q

Results Include Costs for Voluntary Workforce Reductions, as Prior Cost- Reduction Initiatives Gain Momentum and Strategic Divestitures Are Completed

July 23, 2010 –

2Q HIGHLIGHTS

Consolidated

* $9.8 billion in cash upsurge from operations during 2Q 2010, up 29.8 percent from 2Q 2009; $5.5 billion in giveaway money upsurge (non-GAAP), up 76.7 percent.
* A loss of 7 cents per share, including 65 cents of earnings per share in adjustments, compared with 2Q 2009 EPS of 52 cents.

Wireless

* 1.4 million sum net patron additions, excluding divestitures as well as adjustments, in 2Q 2010; 665,000 sell postpaid net patron additions in the quarter; one after another low sell postpaid shake of 0.94 percent.
* 86.2 million sell business; 92.1 million sum business, after divestitures as well as adapting adjustments associated to the Alltel merger.
* 3.4 percent enlarge in total revenues from 2Q 2009; 5.2 percent increase in use revenues; interpretation revenues up 23.8 percent; 30.3 percent handling income domain as well as 47.5 percent Segment EBITDA margin upon use revenues (non-GAAP).

Wireline

* 196,000 net FiOS Internet as well as 174,000 net FiOS TV customer additions; 3.8 million sum FiOS Internet business as well as 3.2 million total FiOS TV business.
* 11.4 percent enlarge in consumer ARPU from 2Q 2009; total broadband and video revenues of $1.8 billion, up 20.1 percent from 2Q 2009.
* 6.2 percent increase in vital business services revenues; sum global enterprise revenues up 0.6 percent from 2Q 2009.

BRAND-NEW YORK – For second-quarter 2010, Verizon Communications Inc. (NYSE, NASDAQ: VZ) reported one after another clever money flow expansion, joined with softened margins for both the Wireless as well as Wireline business segments, as well as softened income trends for sales to tellurian commercial operation customers.

The association reported the detriment of 7 cents in simple gain per share (EPS) in a entertain, that enclosed $2.3 billion in pre-tax costs for workforce reductions compared with a second-quarter inducement suggest which will lead to approximately 11,000 intentional separations this year. This compares with earnings of 52 cents per share in the second entertain of 2009.

‘Solid Improvement in Operational Results’

“Verizon showed solid alleviation in operational formula in the quarter,” pronounced Chairman as well as CEO Ivan Seidenberg. “In further, the wireline spinoff to Frontier upon July 1 improves our destiny expansion profile. We see a event to emanate additional shareholder worth with the income portfolio which is now more heavily focused on wireless, FiOS as well as tellurian IP.”

Seidenberg combined, “We have the network platforms in place, and the product as well as service innovations in a tube, to fuel the subsequent era of expansion in the becoming different attention. Our cost-reduction efforts have been gaining movement, and trends in a global commercial operation marketplace have been display signs of stabilization.”

Consolidated Results Include Divestitures

Verizon’s combined second-quarter 2010 formula embody wireline local sell businesses covering 4 million access lines which were spun off as well as joined with Frontier Communications upon July 1. Results additionally include sure wireless properties until they were divested in April as well as June to comply with conditions imposed in tie with regulatory approvals of last year’s acquisition of Alltel. These wireless properties, covering some-more than 2 million business, were hold in the trust by a date of divestiture.

Items which negatively impacted Verizon’s second-quarter 2010 net income were 52 cents per share compared with a voluntary inducement module for union-represented employees, about two-thirds of whom left the payroll in late June or early July; 6 cents per share for both Alltel partnership formation costs and taxes compared with a divestiture of a Alltel certitude properties; 4 cents per share in Frontier spinoff-related charges; as well as 3 cents per share for the one-time, non-cash income composition of $268 million, that was recorded to properly hold off previously famous wireless interpretation revenues which will be warranted and recognized in destiny durations.

Verizon’s sum handling revenues were $26.8 billion in second-quarter 2010, the diminution of 0.3 percent compared with second-quarter 2009.

Cash upsurge from operations totaled $16.9 billion in the initial half of 2010, compared with $14.1 billion in the initial half of 2009. Cash upsurge from operations totaled $9.8 billion in second-quarter 2010 alone, up 29.8 percent compared with second-quarter 2009.

Capital expenditures totaled $4.2 billion in a second quarter of 2010, down 3.6 percent from second-quarter 2009. Full-year 2010 superintendence for collateral expenditures stays in a range of $16.8 billion to $17.2 billion. In second-quarter 2010, free money upsurge (non-GAAP; money upsurge from operations reduction capital expenditures) totaled $5.5 billion, a 76.7 percent year-over-year enlarge.

Verizon’s net debt (non-GAAP; sum debt reduction end-of-period cash as well as cash equivalents) was $52.7 billion during a finish of second-quarter 2010. The net debt to Adjusted EBITDA comparative measure (non-GAAP; net debt divided by earnings prior to seductiveness, taxes, debasement as well as amortization practiced for non-recurring or one-time equipment was about 1.5 during a finish of a entertain, as well as Verizon expects it to be reduce by year-end 2010.

Wireless Momentum Continues: Top-Line Revenue Growth, Strong Profitability, Low Retail Postpaid Churn

Verizon Wireless one after another to broach clever margins and interpretation income expansion, as well as plain patron additions. In a second quarter of 2010:

* Verizon Wireless added 665,000 sell postpaid as well as 454,000 sum retail business in a quarter, incompatible divestitures as well as adjustments, both increases over a initial entertain of 2010.

* At the finish of a second quarter, a association had 86.2 million sell business, that represented nearly 94 percent of the company’s wireless business, the largest series of retail business of any U.S. wireless provider.

* The association additionally combined 896,000 reseller business in a second quarter.

* The sum number of customers at the end of a quarter was 92.1 million, after adding 1.4 million sum net business in a entertain as well as stealing the net 2.1 million business in tie with divestitures and adapting adjustments related to a Alltel merger.

* In further, a association had 7.7 million “alternative connectors” during a finish of a entertain – such as machine-to-machine, eReaders as well as telematics – adding 264,000 net alternative connectors in a entertain. This brings a number of sum wireless connections to 99.7 million during a finish of a second entertain.

* Retail postpaid churn, sell shake and sum patron shake remained low, at 0.94 percent, 1.33 percent as well as 1.27 percent, respectively. All have been a company’s most appropriate levels in scarcely two years.

* Retail service revenues in the entertain totaled $13.5 billion, up 4.2 percent year over year. Retail data revenue was up 23.4 percent to $4.7 billion. Service revenues in the second quarter were $14.0 billion, up 5.2 percent. Total revenues were $16.0 billion, up 3.4 percent year over year.

* Retail use ARPU (average monthly service revenue per user) grew 0.9 percent over the second quarter of 2009 to $51.56. Retail data ARPU increased to $17.85, up 19.4 percent year over year.

* Wireless handling income domain was 30.3 percent, an enlarge of 150 basement points, or 1.5 commission points, year over year. Segment EBITDA domain on service revenues (non-GAAP) was 47.5 percent, up 120 basis points over second-quarter 2009.

Wireline Growth in Consumer and Enterprise Markets: Revenues Increase for FiOS and Strategic Business Services

Verizon one after another to supplement business for broadband as well as video services supposing over the FiOS fiber-optic network, as well as revenues increasing for modernized communications as well as associated commercial operation services supposing over Verizon’s tellurian IP (Internet custom network. In a second quarter of 2010:

* Verizon combined 196,000 net brand-new FiOS Internet business as well as 174,000 net brand-new FiOS TV business. Verizon has posted uninterrupted quarterly gains in a series of business using FiOS services given FiOS Internet was introduced in 2004, as well as by a finish of a second entertain had 3.8 million FiOS Internet as well as 3.2 million FiOS TV business.

* FiOS Internet penetration (customers as the percentage of intensity business was 29.7 percent by the finish of the quarter, with the product available for sale to 12.9 million premises. This compares with 28.1 percent as well as 11.0 million, respectively, during a end of second-quarter 2009.

* FiOS TV penetration was 25.9 percent by a end of a entertain, with a product available for sale to 12.4 million premises. This compares with 24.6 percent as well as 10.3 million, respectively, during a finish of second-quarter 2009.

* Total wireline broadband as well as video revenues were $1.8 billion in the entertain, up 20.1 percent from second-quarter 2009. This includes FiOS broadband revenues, that grew 33.2 percent year over year. All FiOS-based services, together with narrowband voice, generated 43 percent of consumer wireline revenues in second-quarter 2010, compared with 33 percent in second-quarter 2009.

* Consumer ARPU for wireline services was $80.76 in a quarter, up 11.4 percent compared with second-quarter 2009. ARPU for FiOS business was more than $145.

* Global enterprise income totaled $4.0 billion in the entertain, an enlarge of 0.6 percent compared with second-quarter 2009 as well as an alleviation from the 1.4 percent year-over-year decrease in a first entertain of 2010. Sales of strategic craving services – such as security as well as IT solutions, as good as vital networking – generated $1.6 billion, up 6.2 percent compared with second-quarter 2009.

* Segment EBITDA margin (non-GAAP) was 22.7 percent, compared with 21.7 percent in a first entertain of 2010 and 24.5 percent in a second quarter of 2009.

Additional Highlights

Wireless

* Verizon Wireless one after another to lead the industry in price potency. Monthly money responsibility per patron (non-GAAP) decreased in a second entertain 2010 to $26.48, from $27.42 in a allied duration in 2009.

* In a second entertain, data revenues increasing to 34.5 percent of all use revenues, up from 29.3 percent in a second quarter 2009.

* Verizon Wireless continued to deposit in its broadband network, a nation’s largest and many reliable 3G (third generation) network. Verizon’s 3G network provides more coverage than any alternative U.S. carrier’s as well as is available where 289 million people reside.

* Verizon Wireless skeleton to launch a nation’s initial 4G LTE (Long Term Evolution) network in 25 to 30 markets by a finish of this year as well as cover probably all of its stream national 3G footprint by a finish of 2013. In addition, as part of its 4G LTE network deployment skeleton, Verizon Wireless voiced efforts during the entertain to work with farming companies to collaboratively setup and work the 4G network in those areas, using Verizon Wireless’ 700MHz spectrum.

* In June, Verizon Wireless unveiled the much-anticipated DROID X by Motorola, a newest Android smartphone, which became accessible in stores as well as online final week. The Droid X facilities the large, high-resolution screen, 3G Mobile HotSpot capabilities, personal HD video capture as well as sharing, as well as is ready for Adobe Flash Player 10.1 when a program is expelled by Adobe. During the second quarter, the association also stretched its smartphone lineup with a LG Ally, an Android device; the LG Fathom, powered by Windows Mobile; and the BlackBerry Bold 9650 tellurian smartphone. The association additionally introduced the Samsung Reality, that has the full apartment of messaging options, and a Pantech Jest.

* During a second entertain, Verizon Wireless business sent or perceived some-more than 180 billion content messages. Customers additionally sent nearly 4.2 billion picture/video messages and finished more than 25 million song as well as video downloads.

* Verizon Wireless ranked highest between wireless providers in small to mid-sized commercial operation customer compensation in the J.D. Power as well as Associates 2010 U.S. Business Wireless Satisfaction Study expelled in June.

Wireline

* Second-quarter 2010 operating revenues were $11.1 billion, a decline of 3.3 percent compared with second-quarter 2009. Second-quarter 2010 operating losses were $10.9 billion, the decrease of 0.3 percent compared with second-quarter 2009.

* Broadband connectors totaled 9.3 million at a finish of a second quarter 2010, the 2.5 percent year-over-year increase. This is the net enlarge of 28,000 from a initial entertain 2010, as the enlarge in FiOS Internet connectors more than equivalent the diminution in DSL-based High Speed Internet connections.

* As of a finish of second-quarter 2010, the FiOS network upheld 15.9 million premises.

* The wireline workforce totaled 110,600 at a finish of a second quarter 2010. This is a decrease of 3,800 compared with a end of the first quarter 2010. In a initial half of 2010, Verizon reduced the wireline workforce by 6,100. More than 9,200 employees were subsequently transferred to Frontier as part of the July 1 spinoff.

* Verizon one after another during a quarter to roll out tellurian solutions which capacitate multinational craving, medium commercial operation as well as government business to take value of cloud-based service smoothness of key IT resources as well as applications. These included new cloud-based computing, interpretation storage, security as well as one communications offers, as good as stretched network coverage, craving mobility as well as professional service solutions. In further, Verizon announced industry-specific solutions, together with prolongation of its dedicated monetary services network to Europe as well as data consulting services for healthcare providers.

* Continuing to enlarge its tellurian scope as well as capabilities, Verizon stretched its network infrastructure, adding the second interpretation core in Hong Kong that will raise the company’s cloud cover as well as interpretation core services in a Asia-Pacific region and yield approach access to the global network. The association additionally installed 18 one more Private IP edge routers for a total of 781 corner routers in 221 sites via 60 countries as well as added four brand-new converged parcel architecture switches in Tel Aviv, Israel; Rotterdam, Netherlands; Winnipeg, Canada; and San Jose, Costa Rica. This brings a sum series of CPA switches to 146 in 129 sites opposite 35 countries.

* In further to winning brand-new business with the series of multinational corporate business, Verizon entered into new agreements with several supervision agencies, together with a U.S. Department of Health as well as Human Services.

NOTE: Comparisons have been year over year unless otherwise noted. See a concomitant schedules as well as www.verizon.com/investor for reconciliations to in all supposed accounting principles (GAAP) for non-GAAP monetary measures cited in this headlines release.

Verizon Communications Inc. (NYSE, NASDAQ:VZ), headquartered in New York, is the tellurian personality in delivering broadband as well as alternative wireless as well as wireline communications services to mass marketplace, business, government as well as indiscriminate business. Verizon Wireless operates America’s many arguable wireless network, portion more than 92 million customers national. Verizon additionally provides converged communications, information as well as party services over America’s most modernized fiber-optic network, and delivers innovative, seamless business solutions to customers around a universe. A Dow 30 company, Verizon final year generated consolidated revenues of some-more than $107 billion. For more information, visit www.verizon.com.