Verizon's Shammo sees better bottom line on cost cuts, efficiencies

01/23/2013 | Reuters · Light Reading Mobile · Home Media Magazine

Profit margins at Verizon Wireless could rise to 50% this year, Fran Shammo, chief financial officer of parent Verizon Communications, said after the company reported quarterly earnings Tuesday. Shammo also predicted that paring $2 billion in wireless costs would improve the telecom's bottom line in 2013, and that the Redbox Instant by Verizon service would become profitable in 2014. On the wireline side, Verizon will continue to gradually wean customers off their copper lines in favor of fiber optics, Shammo said, adding that in 2013, the carrier wants to convert 300,000 out of 3.3 million copper-based subscribers.

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Reuters · Light Reading Mobile · Home Media Magazine

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