Verizon Says Unlimited Plans Selling Well; Expects Double-Digit Rev Growth
Verizon Wireless (NYSE: VZ) said its $99 unlimited calling plans were selling well and that it expects revenues to grow over the next few years, according to a presentation given by Verizon Communication's CFO Doreen Toben at the Bear Stearns 21st Annual Media Conference.
Reuters reported that Toben expects double-digit percentage increases in annual revenues for Verizon Wireless over the next few years and for EBITDA margins to fall between 43 percent to 45 percent for the unit's three-to-five year planning period. Toben also told analysts that the company is seeing a "great early response" to the $99 unlimited calling plan???from both customers upgrading from cheaper plans, and from customers who spend more than $100 a month. "It doesn't take that many more of the $79.99 folks to go up to $99.99 to offset it," said Toben, who expects the plan to boost results. Webcast. Slides.
Toben also released a few figures:
-- Data revenues have increased 65 percent to $7.4 billion in 2007 from $4.5 billion in the year ago period.
-- In 2007, there was a 44 percent increase in data ARPU compared to 2006.
-- 55 percent of the retail base has a broadband capable phone.
-- There was a 146 percent increase in text messages between 2006 and 2007.
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