Verizon reported a 2.5% year-on-year increase in revenues in the third quarter to 31.7 billion U.S. dollars. Although wireless service revenue fell 5.1% to 15.8 billion dollars, wireless equipment revenue was up 5.5% and wireline revenue rose 1.1% thanks to the acquisition of XO Communications.
The U.S. operator said telematics revenue was over 220 million dollars in the quarter, including Fleetmatics and Telogis, while total Internet of Things revenue increased approximately 13% in the quarter on an organic basis. Matt Ellis, CFO, added: "In terms of the over-the-top [video].. this is a space where we think there's an opportunity for us to play. We think that it makes sense for us to play in that space, but we don't want to launch just a me-too type product. So we are continuing to look at what makes sense for us to launch something that's differentiated in that space. Probably around live programming. But how and when we launch something will be TBD." source: Verizon statements