Verizon reported a 1.5% year-on-year decline in revenues on a like-for-like basis in the first quarter - a dramatic turnaround from the growth reported in recent years. Including the contribution of AOL, which was not part of Verizon a year ago, total operating revenues rose 0.6% to 32.2 billion US dollars. Verizon said AOL had its highest first-quarter revenues in the past five years.
Verizon's wireless revenues fell 1.5% to 22 billion dollars, "as more customers continued to choose unsubsidised device payment plans," the telco said.
“Verizon’s strong first-quarter results demonstrate our capacity to compete effectively, while executing on our plan of continued network leadership and seeding new growth markets in mobile video and the Internet of Things,” said CEO Lowell McAdam. Verizon added that IoT (Internet of Things) revenues grew 25% year-on-year to approximately 195 million dollars in the first quarter. source: Verizon statement
Verizon's push into entertainment is analysed in my new report for STL Partners: Can Telcos Entertain You?