Verizon reported its Q4 2013 earnings today, including revenue for the quarter of $29.4B and EPS of $0.68. The results were mixed, topping expectations in terms of earnings per share, and falling slightly below prediction in terms of revenue estimates, according to Yahoo!’s analyst consensus.
Total revenues were up 4.2 percent from last year, where it reported $18.3 billion in the first fiscal quarter. EPS was up 15.3 percent from last year, when ti reported $0.59 per share. Verizon added 720,000 wireless customers during the first quarter of the year, for a total of 98.9 million customers, up from 98.2 million sequentially.
Verizon dedicated resources to launching Redbox Instant, which was in a beta trial period for most of the quarter before its launch in March. That likely put pressure on margins, while on the wireless side decreased subsidies on some mobile phones seem to have helped it improve the picture there. Wireline ARPU increased to $107.15 in Q1 2013, and totalled $4.8 billion in profit overall for the quarter.
A recent report suggested that Verizon recently made a bid for Clearwire spectrum leases of $1.5 billion, in an attempt to help it continue to push out its network expansion. Originally reported by the Wall Street Journal April 15, this is unlikely to have impacted the carrier’s earnings today, but could have a big future material impact on the business, as Verizon continues to snap up spectrum as it did in its deal with cable companies last year worth $3.9 billion.