What’s new? A recap of Verizon’s first-quarter results

Bob Varettoni
T. 908-559-6388

We posted a fact sheet about Verizon, including updates that reflect the company’s first-quarter results.

As CEO Lowell McAdam said, “Verizon’s strong first-quarter results demonstrate our capacity to compete effectively, while executing on our plan of continued network leadership and seeding new growth markets in mobile video and the Internet of Things.”

The fact sheet is great if you’re looking for a quick overview of Verizon. If you want all the details – if you’re a job candidate, reporter or researcher, or current or potential investor – you may want to visit Verizon’s Investor Relations website. The material posted there includes a replay (and transcript) of CFO Fran Shammo’s quarterly webcast.

The IR material also points to recent news of note: for example, Verizon’s move to strengthen America’s best networks by announcing its intention to acquire XO Communications’ fiber-optic business and an agreement to deploy a new fiber platform in Boston. Both will support a mix of new technologies, including 5G wireless services.

Verizon also recently announced plans to expand its video platform by adding unique content from Hearst and AwesomenessTV, and through a joint venture with Hearst to acquire Complex Media.

Details about these highlights are available here on the Verizon News Center. Check out, for example, the further information Verizon Enterprise Solutions posted about how the company helped global clients provide better customer experiences and product better results in the first quarter.

Keep in mind as you look at results as of March 31, 2016, that Verizon closed on the sale of landline businesses in California, Florida and Texas on April 1. So the end-of-first-quarter totals for Fios subscribers and related financial and employee headcount results include these businesses. Verizon will provide nine quarters of historical financials for the wireline segment, excluding these properties, later in second-quarter 2016. This will be filed with the SEC and posted to Verizon’s website.

Also keep in mind, as competitors report quarterly results and make various claims, that at Verizon, we don’t view competitors as enemies. They are challengers who drive us to improve.

As reported in first-quarter results, Verizon continues to anticipate making consolidated capital expenditures of between $17.2 billion and $17.7 billion in 2016 – and we believe these network investments will create value for customers and shareholders alike.