Verizon has released their 3rd quarter 2017 financial results and they are a mixed bag. Revenue for the company rose by a mere 2.5% to $31.7 billion in the quarter when compared to the same quarter in 2016. The company’s consolidated operating income margin for the quarter was 22.7% with a net income of $3.7 billion. The financial report also reflects the completed acquisition of Yahoo, now under the name of Oath. That was a $4.48 Billion charge on the company financials but the newly formed division of Yahoo and AOL generated revenue of $2 Billion.
Must of the generated revenue for Verizon came from new postpaid mobile subscribers. In Q3 they added 603,000 with a churn of .97%. That means there was a net add of 486,000 subscribers. The churn figure is critical to any carrier as it reflects how many customers are staying with the company. The lower the better.
In other tidbits from the report, the company’s IoT revenue grew just shy of 13% while the company lost 18,000 Fios Video subscribers. They did, however, gain 66,000 internet connections.
Generally analysts were happy with the results and they were in line with expectations. The company has seen an erosion of revenue as the competitive landscape in mobile service has forced unlimited data plans to mobile subscribers and, of course, their Yahoo acquisition. The company is expected to be profitable for 2017 once the Q4 figures are sorted out early in 2018.
