Verizon Business say they have further reinforced their position as a global IP leader and network-based solutions partner for global corporations and government agencies during the fourth quarter of 2007. The company again achieved year-over-year and sequential revenue growth in the highly competitive multinational corporate and government marketplace as it continued to enhance its already unrivaled portfolio of global communications and information technology solutions.
Verizon Business generated fourth-quarter 2007 revenues of $5.4 billion, or growth of 0.5 percent compared with the fourth quarter of 2006 on an adjusted basis (non-GAAP).* This represents Verizon Business’ fifth consecutive quarter of year-over-year, pro-forma revenue growth. Full-year 2007 Verizon Business revenue was $21.2 billion, a 1.8 percent increase over full-year 2006 revenue of $20.9 billion.
Global sales of strategic services such as IP, Ethernet and managed services continued to accelerate dramatically during the past quarter, exceeding declines in revenue on a year-to-date basis from traditional core voice and data services. In the fourth quarter 2007, strategic services generated $1.4 billion in revenue, up 25.1 percent from the fourth quarter 2006. Strategic services revenue was also up sequentially, increasing 4.7 percent from the third quarter 2007.
“Verizon Business is executing well as we continue to sharpen our focus on multinational corporations and deepen our global capabilities in security and other key strategic areas,” said John Killian, president of Verizon Business. “Whether it’s an end-to-end global solution or a key stand-alone communications service, we are bringing the power of IP to bear in helping our customers do business better.”