Verizon Sees Income Spike in Q2 Earnings Report

On Thursday, the nation’s largest mobile carrier reported earnings for Q2 of 2012.

Verizon said its net income in the second quarter rose 13.4 percent to $1.8 billion. Revenue climbed 3.7 percent to $28.6 billion.

Verizon today reported a second consecutive quarter of double-digit percentage growth in year-over-year earnings results and significant increases in operating cash flow. Verizon Wireless generated record-high margins and strong operational results, and Verizon’s Wireline segment generated continued increases in revenues from FiOS fiber-optic services and strategic business services.

For the most part, the net income was consistent with the expectations of Wall Street analysts. Verizon says strong smartphone sales and revenue from cellular subscribers were behind the positive earnings.

“Verizon Wireless has once again demonstrated its industry leadership, combining strong revenue growth with record margins and high customer loyalty,” Lowell McAdam, Verizon’s chief executive, said as Verizon reported earnings today. “Verizon delivered another strong quarter of earnings growth and cash generation, and we remain on track to meet our financial objectives and produce solid double-digit earnings growth for the year.”

To read the carrier’s full earnings report and summary, click here.