Telecom DailyWelcome to Faulkner's Telecom Daily. We publish Monday through Friday, updating top stories as events warrant.
Friday, October 20...
Verizon Communications Posts Modest Revenue Gains, Flat
Earnings as FiOS Loses Video Subs
Verizon Communications posted its financial results for the third quarter of its 2017 fiscal year. For the period, Verizon saw revenues reach $31.72 billion, up slightly from the $30.94 billion reported for the year-ago quarter. Of this total, $21.58 billion was generated by the company's Verizon Wireless division, which actually declined somewhat from its Q3 2016 contribution of $22.1 billion. Net income for the period was $3.73 billion, essentially flat with the $3.74 billion produced one year ago. Earnings per share followed suit, remaining flat at $0.89. On the subscriber front, Verizon's Wireless segment gained a net total of 742,000 accounts, improving upon the 525,000 gained during the previous year's third quarter. Among these gains were 603,000 new postpaid subscribers, representing the highest ARPU (average revenue per user) account type at the carrier. News was not as positive for the Wireline division, which gained only 59,000 subs, less than half of the 129,000 accounts added during Q3 2016. Verizon's FiOS video services fared the worst, dropping a net total of 18,000 accounts, versus the previous third quarter when it added 36,000.
AT&T Brings 1Gbps Fiber Broadband to Four New Metros
AT&T announced that its 1Gbps, fiber-based broadband services is now available in a total of 4 new metro areas: Columbus and Macon, Georgia; Lafayette, Louisiana; and Montgomery, Alabama. With this expansion, the company notes that its 100 percent fiber network now reaches a total of more than 6 million customer locations spread across 61 metro areas in 21 states. AT&T noted that it does not plan to slow its expansions any time soon, with intentions to reach 7 million locations before year's end, and 12.5 million before the middle of 2019. Customers in the newly minted regions will now be able to choose from AT&T Internet 50, AT&T Internet 100, and AT&T Internet 1000 service plans. More information on these services and their specific areas of availability can be found at AT&T's Web site.
FCC Chair Chooses New General Counsel to Replace Acting GC
Federal Communications Commission (FCC) Chair Ajit Pai announced the appointment of Thomas M. Johnson, Jr. as FCC General Counsel. He will replace current Acting General Counsel Nick Degani, who will transition back to his former role as senior counsel in the Office of Chairman Pai. The Chair thanked Degani for fulfilling the role in the interim, and pointed to his faith in Johnson's ability to help the FCC avoid "stray[ing] beyond the authority granted to us by Congress." The new appointee comes to the regulator from his current job as deputy solicitor general for West Virginia Attorney General Patrick Morrisey. Johnson has also worked at the law firm Gibson, Dunn & Crutcher and served as a law clerk for Judge Jerry E. Smith of the US Court of Appeals for the Fifth Circuit.
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