Verizon announced its third quarter earnings for 2015 this morning in a call with CEO Lowell McAdam. Beating expectations by $.02, the company reported $1.04 earnings per share for revenue of around $32.94 billion.
At least some of those earnings are owed to the way that Verizon is charging for phones now; it recently switched to an installment plan at full price instead of subsidizing phones for customers. More than a fifth of its total customer base is now on full price phone installment plans, with Verizon predicting that 70% of new customers in quarter four will buy new phones on similar plans.
There’s good news for Verizon’s FiOS in the earnings report as well. Verizon added 114,000 new internet subscribers, and Fios’ video service added 42,000. FiOS in general (including traditional phone service) accounted for $3.4 billion in revenue this quarter. FiOS grew 7.5% this quarter, and Verizon expects more of the same going into quarter four.
You can see Verizon’s quarterly report here.
