Verizon touts iPhone-boosted profits, new CEO

verizon touts iphone boosted profits new ceo 650 lowel mcadam

Telecommunications operator Verizon—also the U.S.’s top mobile operator—has announced its second quarter financial results, with revenue of $27.5 billion and net income of $1.61 billion, which translates to 57 cents per share for stockholders. The company activated some 2.3 million iPhones during the quarter, and while that number was lower than the company expected—like everyone else, Verizon seemed to think Apple was due to announce a new iPhone—the firm still managed to add 1.26 million wireless contract subscribers during the quarter—that’s compared to adding some 665,000 subscribers in the same quarter a year ago.

Verizon also indicated it has sold 1.2 million LTE-enabled devices, including the HTC Thunderbolt smartphone and notebook computer modems.

On the wireline front, Verizon added 189,000 FiOS Internet subscribers and 180,000 FiOS TV subscribers during the quarter. FiOS customers now represent well over half (57 percent) of Verizon’s total customer revenues, and Verizon is milking them hard: the company managed to wring a 9.4 percent increase in revenue per user of its wireline customers. Those numbers are important, since Verizon Wireless—the company’s mobile operations—are 45 percent owned by Europe’s Vodafone.

“In terms of earnings growth and the acceleration of revenue growth, this has been one of Verizon’s best quarters since the 2008 economic downturn,” said current Verizon Chairman and CEO Ivan Seidenberg, in a statement. “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.”

Verizon also unveiled a change in leadership: as of August 1, Chief Operating Officer Lowell McAdam will take over from long-time CEO Ivan Seidenberg. Seidenberg, currently age 64, will stay on as chairman of the company’s board. Seidenberg has been CEO since 1998—although in those days, the company was known as Bell Atlantic.

Gaming

‘Diablo Immortal’ is just the beginning. Mobile games are the future

Diablo fans were furious about Diablo Immortal, but in truth, mobile games are the future. From Apple and Samsung to Bethesda and Blizzard, we’re seeing a new incentive for games that fit on your phone.
Mobile

Samsung patents show what Infinity-O display could look like on Galaxy S10

While we still may be months away from an announcement, there's no doubt about it: Samsung is working hard on its successor to the Galaxy S9. Here's everything we know about the upcoming Samsung Galaxy S10.
DT Daily

DT Daily: Indiegogo’s CEO on how crowdfunding is going beyond fundraising

David Mandelbrot, CEO of Indiegogo, joins us on DT Daily to talk about how Indiegogo is changing its crowdfunding business to offer support and resources, which in turn would lead to more successful campaigns.
Mobile

Google, Samsung, OnePlus, and Huawei face off in an Android battle royale

The good news is that there are some great options in the Android smartphone market right now. The bad news is that too much choice makes it tough to decide. We compare the Pixel 3 XL, the Galaxy Note 9, the OnePlus 6T, and the Mate 20 Pro.
Deals

All the best Amazon Black Friday deals for 2018

Amazon may be an online-only retailer, but that doesn’t mean its Black Friday sales are anything to sniff at. In fact, due to its online status, Amazon has huge flexibility with the range of products and deals it can offer. Here's our…
Social Media

Facebook is rolling out a Messenger ‘unsend’ feature, and here’s how to use it

Facebook is starting to roll out a "remove message" feature for its Messenger app. It lets you delete a message in a thread within 10 minutes of sending it, and replaces it with a note telling recipients that it's been removed.
Product Review

Google’s Pixel 3 is a hair away from pocket-sized perfection

Google’s Pixel 3 smartphone is the best Android phone you can buy. It doesn’t have the best looks or the best hardware, but you’ll be hard pressed to find better software and unique A.I. functionalities.
Mobile

Google rolls out Night Sight to Pixel 3 and 3 XL camera app

Google's latest flagships, the Pixel 3 and Pixel 3 XL, are now official and we have all the details from the October 9 event in New York City and Paris. Here's everything we know about the Google Pixel 3 and Pixel 3 XL.
Mobile

You can now message businesses straight through Google Maps

Google has been updating Maps with a ton of new features over the past few months, and now it's back with another one -- the ability for users to message businesses directly through the Maps app.
Mobile

No cash. No talking. What goes next? Welcome to your ‘app-tive’ digital life

Bank of America's 2018 Trends in Consumer Mobility Report found mobility has changed our lives. Mobile tech influences how most of us communicate, meet people, build relationships, and handle money as we move toward a cashless society.
Mobile

The Motiv smart ring is coming to 20 more countries and physical stores

Remember Motiv's activity tracking smart ring? It's back with a raft of new features that adds biometric identification and token authentication, all on a device that fits on your finger.
Wearables

Everything you need to know about Garmin’s GPS watches and trackers

Garmin jumped into the GPS smartwatch and fitness tracker market five years ago and has built a portfolio of devices that rivals competitor Fitbit. Here's your guide to the latest and greatest fitness devices that Garmin has to offer.
Mobile

Sharp doubles down on the notch trend with Aquos R2 Compact

As if one notch wasn't enough, Japanese manufacturer Sharp unveiled a new smartphone that has two -- one teardrop style notch at the top, and a bigger notch at the bottom. Here's what the world's first dual-notch smartphone looks like.
Mobile

Verizon has made its first 5G video call … with a phone that’s already out

Verizon has announced that it has successfully made its first video call, using a smartphone that's already available: The Motorola Moto Z3. To make the call, Verizon used the 5G Moto Mod.