Basking Ridge, N.J. — Verizon Communication released its quarterly report on Friday, showing revenue growth to $27.5 billion in a recent quarter and a per-share earnings of 57 cents, ahead of analysts’ expectations.
Boasting that this was the company’s best quarter since the 2008 economic downturn, CEO Ivan Seidenberg said Verizon’s acceleration has also showed a strong customer demand for FiOS Internet and TV, and for cloud and other services.
“We expanded sequential margins in both our wireline and wireless businesses, and in the second half of the year we expect Verizon to build on this strong, positive momentum to continue to drive profitable, sustainable growth,” said Seidenberg in a statement.
During this quarter, the company activated 2.3 million iPhone 4 units and 1.2 million devices running on their 4G LTE network.
Verizon also confirmed Lowell McAdam as its new CEO effective Aug.1, moving Seidenberg to Chairman. McAdam has been serving as Verizon Communications president and COO and was recently the head of Verizon Wireless until last September.