Verizon Details Its Fiber Optic Spending
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Verizon gave its first answers to financial questions about the fiber optic network it is building, in a report that reassured analysts but unnerved investors.
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VeriSign Inc.  said on Thursday  it plans to spend more than $100 million over three years to  expand the infrastructure that helps direct most of the world's  Internet traffic.
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Verizon Communications Inc.  said on Wednesday it has nearly 500,000 subscribers to FiOS television, a video service that the U.S. phone company delivers over a high-speed, all-fiber network.
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Driven largely by gains in its wireless and data businesses, Verizon Communications&#39; revenue was up 5.5 percent year over year in the fourth quarter of 2007, and net income was up slightly.Verizon on Monday reported revenue of $23.8 billion for the fourth quarter, which ended Dec. 31, up from $22.6 billion in the fourth quarter of 2006. Verizon&#39;s net income rose from $1.03 billion to $1.07 billion this past quarter.Earnings per share was $0.37, or $0.62 before one-time items, matching consensus earnings expectations by analysts polled by Thomson Financial. However, analysts had expected revenue of nearly $24 billion for the quarter.Not counting one-time charges, operating income dropped 0.6 percent, to $3.4 billion. One-time items included severance packages for layoffs that will continue through 2008, and a spin-off of wireline access lines in parts of New England.Verizon reported &quot;strong growth in sales of all our strategic products,&quot; Verizon Chairman and CEO Ivan Seidenberg, said in a statement. &quot;We see significant opportunities to grow revenues and expand our leadership in wireless and broadband markets, while reducing operating expenses.&quot;Verizon&#39;s revenue for the year was $93.5 billion, up by $5.3 billion from 2006.Verizon focused on growth in a couple of key areas, including its wireless business.Verizon Wireless&#39; customer numbers increased 11.3 percent from the fourth quarter of 2006, to a total 65.7 million, the company said. Wireless revenue for the quarter was $11.4 billion, up 13.3 percent from a year ago. Verizon Wireless added 2 million customers during the quarter.Wireless data revenue was particularly strong, said Doreen Tobin, Venison&#39;s chief financial officer. Wireless data revenue grew by 65 percent in 2007, she said during a conference call.&quot;We see enormous potential for growth in wireless data for years to come,&quot; she said.Total wireless revenue grew 15.3 percent in 2007, to $43.9 billion for the whole year. &quot;We have a proven business model,&quot; Tobin said. &quot;These results are further evidence of great execution, sustainable growth, and strong cash generation.&quot;In Verizon&#39;s data business, the company added 245,000 Fios fiber-based Internet customers, and 226,000 Fios television customers. The company added a total of 264,000 broadband customers in the quarter, including Fios and DSL (digital subscriber lines). Data revenue increased 12.8 percent to $4.8 billion.Some of those gains were partially offset by a 1.4 percent decrease in overall wireline revenue. Wireline revenue was $12.5 billion for the quarter, which includes the data revenue.Verizon had a &quot;very good year,&quot; but it faces some challenges in 2008, said Jeff Kagan, an independent telecom analyst.&quot;This year will be a little tougher with trouble in the housing market and debates about a coming recession, but so far, so good for Verizon,&quot; Kagan wrote in an e-mail. &quot;The telecom industry continues its strong growth, and cable television competitors have signaled price increases again, but at some point soon brisk competition will break out between the cable television companies and the telephone companies.&quot;The competitive action has started in many markets, but will spread dramatically this year,&quot; Kagan added. &quot;This will be an exciting year to keep our eyes on.&quot;Verizon has not yet seen slumping sales due to fears of a recession in 2008, Tobin said.
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Stepping up its counterattack against cable TV outfits encroaching on its turf, Verizon will offer its own video packages, plus ultra-high-speed Internet access, to customers in six more
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Company pursuing different wholesale access rates to its local phone network for Net phone providers.
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Verizon Communications , the  nation's biggest telephone company, on Tuesday reported  better-than-expected quarterly operating earnings on strong  growth in its wireless business.
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Credit Suisse First Boston said Cablevision Systems (nyse: CVC - news - people ) is the multiple services operator (MSO)/cable operator most exposed to the fiber plans of Verizon Communications (nyse: VZ - news - people ).
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Verizon Communications Inc. may be getting into the wireless consolidation game with published reports indicating that the telecommunications provider, which controls 55 percent of No.
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SBC Communications (SBC.N: Quote, Profile, Research) expects to spend about $5 billion over the next three years to build and connect consumers to a high-speed
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(InfoWorld) - Large businesses in the United States looking for high-bandwidth networks that can handle several technologies have a new option available to them with the launch of a dedicated optical network service from Verizon Communications' Business unit. Verizon Business' Integrated Optical Service allows companies to integrate Ethernet service and optical technologies such as dense wave division multiplexingÂ and synchronous optical networkÂ into a single ring network, the company said. The service can support several applications, including time-division multiplexing, storage, video, and mainframe applications. "You can bring it all together under a single platform," said Mike Marcellin, vice president of product marketing at Verizon Business. "All the types of applications and protocols our customers are asking for are now are able to be delivered over a single architecture." The service, with total bandwidth capability of 440Gbps, is targeted at customers with high-bandwidth requirements, including the financial, health-care, government and education sectors. It's the first dedicated optical network service offered by a top-tier telecom provider, according to Verizon. "That's a lot of bandwidth," said Michael DiVecchia, Verizon Business' group manager for optical product management. The service may not generate broad interest among large businesses, but "to particular types of companies, they are critical," said Lisa Pierce, vice president at Forrester Research. Some customers in media and financial services "who need very large amounts of bandwidth" will be interested in the service, she said. Companies going through mergers that are trying to patch together different types of networks would also benefit, as would companies looking for ways to join legacy networks for other reasons, Pierce said. "Carrier consolidation forces this type of service," she said. "If you look at the types of optical services a Verizon or AT&T has at a local level, you'll see great variation based on legacy provider." The Integrated Optical Service uses an optical transport platform called reconfigurable optical add/drop multiplexer, or ROADM, that allows customers to converge voice, video, and data with a range of other applications on a high-speed network, Verizon Business said. The service is available immediately in 26 states and cities, including New York, Philadelphia, Boston, Washington, D.C., Dallas, Los Angeles, and Seattle. Pricing depends on the services customers want but generallyÂ ranges from about $60,000 to $150,000 per month, DiVecchia said. The product includes a service level agreement that includes around-the-clock monitoring and a guaranteed uptime of 99.999 percent, DiVecchia said.
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Verizon Communications  has  decided to pocket most of the savings from the cancellation of  a government surcharge on digital subscriber lines, despite  calls from consumer groups to pass on the savings on to users.
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Nearly four years have passed since the peak of the fiber-optic boom, but overcapacity continues to plague carriers, and prices for bandwidth continue to fall. By Joanna Glasner.
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Verizon Communications Inc. said yesterday it will extend a powerful new fiber-optic network capable of delivering cable television to 1 million US homes and
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When AT&T Inc.  and Verizon  Communications Inc.  report quarterly results later this  month, investors will be looking for proof that their expensive  video strategies are starting to pay off.
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Verizon Communications Inc. said yesterday that it was dropping a "supplier surcharge" on its high-speed Internet service for retail customers, less than a week after the Federal Communications Commission wrote the company, asking it to explain the reasoning for the charge.
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Verizon&#39;s digital subscriber line service is available to 6,600 additional homes and businesses in the Northampton, Nazareth and Bethlehem areas.