Verizon Continues in Reverse

Verizon Communications reported a 3.5% year-on-year decline in operating revenues in the second quarter 2016 to 30.5 billion dollars on a like-for-like basis. That was a sharper fall than in the first quarter when revenues fell 1.5%. Verizon said its total wireless revenues fell 4% to 21.7 billion dollars, as "more customers continued to choose unsubsidised device payment plans."  However, Verizon said new revenue streams from Internet of Things continue to grow, with revenues of approximately 205 million dollars in the quarter, a year-on-year increase of about 25%. Source: Verizon presentation