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Verizon posts Q1 2011 quarterly report

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Verizon

It’s been a big day for Verizon news, largely because of the company’s quarterly earnings that were announced today. We already discussed the company’s great numbers concerning smartphones, but there’s a lot more to Verizon than just smartphones.

As a whole Verizon saw an increase in revenue, up 5.3 percent year over year, with revenue hitting $27 billion. The revenue boost saw a combined 19 percent increase from FiOS and Wireless. Despite that fact, the company saw a decrease in cash flow, mostly due to pensions, “year-over-year change in working capital,” and divestitures from last year. The company is also spending more money than it did last year, which is good for most of us, because it means more LTE roll outs and better data coverage overall.

The one area in which Verizon saw growth outside of Wireless was FiOS, which saw increases in subscriber numbers this past quarter. FiOS TV saw a net growth of 192,000 subscribers while FiOS Internet saw 207,000 more subscribers. The brings FiOS TV and Internet to 3.7 million and 4.3 million subscribers, respectively. Considering the small number of markets the services are in, that’s fairly impressive. Verizon is seeing 33 percent penetration for FiOS Internet, and 29 percent for FiOS TV, which a again is impressive. Anecdotally, Cablevision can be very aggressive with their ads against Verizon. It also seems most people don’t want to lose their hyperlocal news stations, which can keep new users away from FiOS. Still, the numbers are pretty good, and the average revenue per user for the services increased 10.4 percent year-over-year.

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