Connect with us

Cars

Verizon’s Q2 earnings better than expected as company adds business wireless customers

Published

on

Special feature


How 5G Will Transform Business

5G will be popularized via telecom carriers and the marketing of wire-cutting services, but the biggest impact and returns will come from connecting the Internet of things, edge computing and analytics infrastructure with minimal latency.

Read More

Verizon said it added 451,000 retail postpaid net additions in the second quarter as its earnings topped expectations, but revenue fell a bit short.

The wireless giant reported second quarter net income of $4.1 billion, or 95 cents a share, on revenue of $32.1 billion. Non-GAAP earnings for the second quarter were $1.23 a share. Wall Street was looking for non-GAAP earnings of $1.20 a share on revenue of $323.4 billion. Verizon CEO Hans Vestberg touted the company’s efforts to build out 5G service and retool the operating structure.

5G enthusiasm abounds from tech CEOs: Is it warranted?  

According to Verizon, consumer revenue was $22 billion with 126,000 retail postpaid net additions with business sales of $7.8 billion and 325,000 retail postpaid net additions. The takeaway here is that Verizon’s wireless business has become more of a business play in terms of adding subscribers.

On a conference call with analysts, Vestberg was asked about the net adds on consumer vs. business. He said:

On the business side when it comes to wireless, we are taking share. We feel really good about it. The network quality we have is very important for businesses. I mean there’s no doubt about that coverage and capacity becomes even more important in the enterprise.

If I look at the second quarter, it was with more competitive than the first quarter when it comes to competition in the (consumer) market. We’re doing well on the business side and again, I think that the wireless part of the business side is important with network performance and ease of coverage. But of course there’s competition for those deals as well. I think we’re doing well in that area and we will continue to do well. We have new offerings coming out, and we’ll continue to build the network even more robust and getting more on it.

vz-q2-2019-b.png

Here’s how Verizon’s results compare to the wireless carrier field:

On the wireless front, Verizon reported wireless revenue of $22.7 billion in the second quarter, up 1% from a year ago.

vz-q2-2019-a.png

Wireline revenue was $7.1 billion and the company added 34,000 net FioS Internet additions. However, Verizon lost 52,000 FioS video connections due to cord cutting. 

The company reiterated its outlook for the year and earnings growth in the low-single digits and revenue gains at the same clip.

Numbers to know include:

  • Verizon delivered cash flow from operations of $15.8 billion in the second quarter, down $600 million from a year ago.
  • The company spent $8 billion on capital improvements in the first half related to the build out of 5G and higher traffic on 4G.
  • Verizon said it has saved $4.1 billion since launching a plan to save $10 billion by 2021. These savings are the result of a voluntary separation program and moves to become more efficient.
  • Verizon’s media group reported revenue of $1.8 billion in the second quarter, down 2.9% from a year ago. The company’s media efforts, which revolve around Yahoo and AOL, are hobbled by declines in desktop advertising even as it posts growth in native and mobile ads.

Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Cars

Toyota foils leakers by offering an official image of the 2022 Tundra

Published

on

Earlier this week, leaked images were going around claiming to show the next generation 2022 Toyota Tundra. Automakers never like leaks, and often they simply deny that the images are of their vehicle or ignore the leak altogether. However, Toyota used a different tactic when images of its 2022 Tundra leaked, choosing to release an official image of the truck.

2022 Tundra TRD Pro

With Toyota’s move, talk of the 2022 Tundra has moved from the leaked images to Toyota’s official image. However, it’s worth noting that Toyota only offered a single image of the TRD Pro version of the Tundra and offered no details on the truck. Last month, SlashGear posted a review of the 2021 Tundra TRD Pro, highlighting that it was the last hurrah for the current generation of the truck.

However, it does offer a nice opportunity for us to compare the exterior of the 2021 model to the 2022 model. What we see is significant changes on the exterior of the truck. While the overall profile remains virtually the same, the 2022 has a completely new front end that closely resembles the style used on the Tacoma and 4Runner SUV. That means a large black grille with hexagonal openings and bulky Toyota branding on the grille.

It’s unclear if non-TRD Pro versions will have the same front-end treatment. Another interesting tidbit that is easily seen from the official Toyota photograph is that the truck is equipped with an LED light bar underneath the Toyota logo in the grill and what appear to be LEDs underneath the grill on the front black portion of the bumper. The headlights are much smaller and appear to be LED.

2021 Tundra TRD Pro

The truck has modest black fender extensions and rolls on very attractive black wheels. We also note that the truck has integrated sidesteps to make it easier to get in and out. Unfortunately, there’s no indication of what changes might have been made to the interior or under the hood of the truck at this time.

Continue Reading

Cars

Ford to purchase Electriphi for integration with Ford Pro services for EV fleets

Published

on

Ford has announced it will purchase Electriphi, a California-based provider of charging management and fleet monitoring software for electric vehicles. Ford intends to integrate Electriphi capabilities with its Ford Pro services to develop advanced charging and energy management experiences for commercial users. Many large commercial fleet operators are actively transitioning from combustion-powered vehicles to electric vehicles, and managing charging is a significant challenge.

Ford believes that the acquisition of Electriphi will help spur the adoption of the new F-150 Lightning Pro and E-Transit van by fleet operators around the country and the world. The automaker also notes that the acquisition is part of its plan to invest more than $30 billion by 2025 to enable it to lead in electrification for both commercial and retail customers.

Ford Pro is a new global business within Ford designed to help improve commercial customer productivity and develop advanced charging and energy management services. Charging infrastructure and managing charging capabilities for large fleets of electric vehicles is seen as one of the biggest challenges to the adoption of electric vehicles by commercial users. Ford Pro estimates that the depot charging industry will grow to over 600,000 full-size trucks and vans by 2030.

Ford Pro expects to have over $1 billion in revenue from charging by 2030. Ford’s full-electric E-Transit van is currently scheduled to begin shipping later this year, and the F-150 Lightning Pro will begin shipping in the spring of 2022. Electriphi had a team of over 30 employees, and the software they developed is designed to simplify the electrification of fleets, save energy cost, and track critical metrics like the real-time status of vehicles, chargers, and maintenance services. Ford expects to close the acquisition this month at undisclosed terms. Ford Pro will begin for customers in North America, but it will launch in Europe later.

Continue Reading

Cars

2021 Volkswagen Jetta Review: Sober Value

Published

on

Volkswagen would probably call the 2021 Jetta “pragmatic,” and rationality certainly is the name of the game for one of the most affordable cars on the market right now. A mainstay of the compact sedan segment since 1979, the Jetta always promised a balance between the playful Golf and the grown-up Passat. These days, though, the Jetta may have matured a little too far.

Much as with the Golf in the US, VW has pared back the Jetta configurations to a single engine. In fact it’s the same engine: a 1.4-liter turbocharged four-cylinder, with 147 horsepower and 184 lb-ft of torque. The cheapest 2021 Jetta, the S trim from $18,995 (plus $995 destination), comes with a six-speed manual. So, too, does the $22,795 Jetta R-Line.

Otherwise you get an eight-speed automatic, with front-wheel drive across the board. In the case of my 2021 Jetta SEL Premium – the swankiest Volkswagen offers – it pushes pricing to $28,045 plus destination. Part of that is the Cold Weather Package, which is $500 on lesser trims, and the equally priced Driver-Assistance Package.

All Jetta get LED front and rear lights, and R-Line and above upgrade the 16-inch alloy wheels to 17-inch versions. SE and above have heated side mirrors and a panoramic power sunroof. SE and above get dual-zone automatic climate control and heated front seats; cars with the Cold Weather Package have a heated steering wheel and heated rear seats. Only the SEL Premium has actual leather upholstery, though.

On the safety side, automatic post-collision braking is standard across the board, while SE and above get forward collision warnings with emergency braking, blind spot monitoring, and rear cross-traffic alerts. SEL and SEL Premium cars throw in adaptive cruise control with lane-keeping assistance.

The Jetta may have the same engine as the 2021 Golf, but the end result still feels fairly different. The Golf has, of course, near-sublime chassis tuning, and is altogether more eager with its 147 horses. Even with the same platform underneath, the Jetta plays things a little more grown-up. It’s surprisingly zippy from a standing start, easily pulling away, but corners see more body roll and the steering is dialed in light.

I suspect that’s what Jetta owners like, though, and certainly it’s a relaxed and unchallenging experience from behind the wheel. The Jetta GLI promises a few more thrills, thanks in no small part to its active damping, but this regular car is unlikely to get your heart rate up.

The same could be said for the cabin, which is dark and sober enough that you could assume Volkswagen is going through its goth phase. Matte black plastics sit alongside gloss black plastics, and the sprinkling of dark silver trim around the clusters of controls isn’t enough to lift the interior out of its somber monochrome.

The switchgear feels good, but the rest of the plastics are only middling, and all the button blanks around the transmission shifter are a reminder that even in SEL Premium form you don’t get a huge number of toys. The 8-inch touchscreen on SEL and SEL Premium trims now runs MIB3, a newer version of VW’s infotainment system; S, SE, and R-Line cars get a 6.5-inch touchscreen and the older MIB2. So, too, the two highest trims pack the Volkswagen Digital Cockpit, with a screen replacing the analog gauges.

MIB3 is clean and easy to use, though VW’s graphics don’t stray from the pallid aesthetic of the rest of the interior. There’s Apple CarPlay and Android Auto, plus a wireless charging pad, and both SEL and SEL Premium cars get a 400 watt Beats Audio system with eight speakers and a subwoofer. There’s a surprising degree of bass from that, along with two USB-C ports.

Where the Jetta does stand out – including against the Golf – is in economy. The EPA says you’ll get the same 29 mpg in the city, but highway driving is rated for up to 39 mpg (versus the Golf’s 36 mpg) for a single point advantage at 33 mpg combined. In practice, it’s not difficult to meet those figures either, not least because the Jetta doesn’t especially encourage profligate manners behind the wheel. Highway driving in particular feels tuned for steady plodding rather than anything approaching urgency.

Practicality tips things back in the Golf’s favor, with the Jetta offering 14.1 cu-ft of trunk space versus its hatchback cousin’s 17.4 cu-ft. Still, it feels bigger than that, there’s a 60/40 split rear seat, and adult passengers back there only had a slight dip in headroom to complain about. A four-year/50,000 mile warranty is a little more generous than what many in the category are offering.

2021 Volkswagen Jetta Verdict

I’ve said it before: VW’s attentions seem to be on its electrification strategy and the ID range, and that leaves cars like the 2021 Jetta out in the shadows. The compact sedan isn’t a bad car, just an unmemorable one, and the problem there is that it finds itself with competition that rival automakers are taking a lot more seriously.

The new 2022 Honda Civic Sedan, for example, is similarly priced but has a fantastic cabin and is more rewarding dynamically. The Mazda3 has beguiling looks and is far more enjoyable to drive than the Jetta. There’s not really anything objectively wrong with Volkswagen’s car, and those on an extreme budget might find its lesser-equipped trims appealing, but even those who think of their vehicles as appliances will find more to appreciate elsewhere.

Continue Reading

Trending