Verizon Grows Operating Income by 18% and 4 Telecom Titans Attracting Interest
Verizon Communications (NYSE:VZ), which is the biggest domestic wireless carrier, has posted yet another set of impressive third quarter 2012 results on October 18th. The firm saw a healthy 4 percent year-over-year growth in revenue, reinforced by a strong adoption of smartphones, along with its newly introduced Share Everything data plans. Even more to the point, the carrier boosted its operating income by more than 18% as wireless earnings before interest, taxes, depreciation and amortization margins improved because of effective management of subsidies and other expenses. Verizon managed to add 1.5 million postpaid connections in the quarter, in the face of a quite saturated wireless market, which number marked the highest it has reported in the past four years. In the meantime, LTE adoption increased farther as as the firm leveraged its LTE coverage lead over AT&T and Sprint for its own benefit.
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MetroPCS Communications (NYSE:PCS) said earlier Friday that it would start offering Samsung’s (SSNLF.PK) Galaxy S III in select stores this coming weekend, and in all of its stores starting on Monday. The firm said that it would be the sole company selling the product without an annual contract. MetroPcs will merge with Deutsche Telekom’s (DTEGY.PK) T-Mobile.
Level 3 Communications (NASDAQ:LVLT) on Friday said that its Chief Executive James Q. Crowe will make the keynote address at the 2012 Capacity North America Conference in Toronto next on October 23rd. The event will be at the Hyatt Regency Toronto, where Crowe will deliver his address at 8:50 A.M. Eastern Time.