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Verizon Q2 profits up strongly on mobile growth
2013-07-18 14:11:00| Telecompaper Headlines
(Telecompaper) Verizon reported double-digit growth in second-quarter profits amid continued strong demand for its mobile and fibre broadband services. Revenues rose 4.3 percent from a year earlier to USD 29.8 billion, and operating profit jumped 16.0 percent to USD 6.6 billion. EBITDA increased 9.5 percent to USD 10.7 billion, and the margin improved 170 basis points to 35.9 percent. The US operator reported a net profit of USD 0.78 per share, including a 5-cent one-time gain on pensions, up from USD 0.64 a year earlier. Operating cash flow rose to USD 17.1 billion in the first half of the year from USD 15.3 billion in H1 2012, and capex increased to USD 7.6 billion from USD 7.4 billion over the same period. Verizon raised its capex budget for the full year to USD 16.4-16.6 billion, versus a previous estimate of USD 16.2 billion, in order to meet stronger demand for mobile data services and start deploying its AWS spectrum in the second half of the year.
Tags: mobile
growth
strongly
profits
Category:Telecommunications