Verizon Wireless 2007 Annual Report Download - page 4

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2
In฀ changing฀ the฀ prole฀ of฀ our฀ company,฀ we฀ have฀ drawn฀ on฀ the฀ talents฀ of฀ our฀
employees,฀the฀commitment฀of฀our฀leadership฀team,฀and฀the฀foresight฀and฀resolve฀of฀our฀
Board฀of฀Directors.฀Now฀our฀focus฀is฀on฀using฀these฀great฀assets฀to฀deliver฀the฀best฀results฀
of฀ any฀ company฀ in฀ our฀ industry.฀ Under฀ our฀ chief฀ operating฀ ofcer,฀ Denny฀ Strigl,฀ our฀
leadership฀team฀is฀focused฀on฀the฀fundamentals฀of฀running฀a฀great฀business:฀growing฀
revenue฀ and฀ taking฀ market฀ share,฀ improving฀ efciency฀ and฀ productivity,฀ delivering฀
excellent฀service฀and฀strengthening฀our฀culture.฀
Our฀2007฀results฀show฀that฀this฀focus฀on฀performance฀and฀execution฀is฀paying฀off,฀
most฀notably฀in฀our฀revenue฀prole.฀Revenues฀were฀$93.5฀billion฀in฀2007.฀On฀a฀pro฀forma฀
basis฀–฀that฀is,฀as฀if฀Verizon฀and฀MCI฀had฀merged฀on฀January฀1,฀2006฀–฀this฀represents฀an฀
increase฀of฀5.8฀percent,฀compared฀to฀the฀3.3฀percent฀of฀pro฀forma฀growth฀we฀saw฀in฀2006.฀
This฀ accelerated฀ growth฀ reects฀ our฀ continued฀ investment฀ in฀ the฀ expanding฀ wireless,฀
global฀business฀and฀broadband฀markets.฀
We฀believe฀that฀having฀the฀best฀networks฀is฀key฀to฀being฀the฀best฀communications฀
company,฀so฀we฀continue฀to฀differentiate฀our฀businesses฀through฀network฀quality.฀Our฀
reliable฀wireless฀network฀has฀long฀been฀a฀source฀of฀industry-leading฀customer฀loyalty,฀
and฀ we฀ have฀ extended฀ this฀ competitive฀ edge฀ into฀ the฀ wireless฀ data฀ arena฀ with฀ our฀
nationwide฀third-generation฀data฀network.฀We฀are฀gaining฀scale฀and฀momentum฀with฀
FiOS,฀our฀high-speed฀ber฀network,฀which฀passed฀more฀than฀9.3฀million฀homes฀at฀the฀
end฀of฀2007.฀Verizon฀also฀is฀a฀leader฀in฀providing฀the฀global฀IP฀network฀over฀which฀the฀
digital฀cargo฀of฀the฀21st฀century฀runs.฀Our฀network฀currently฀offers฀secure฀global฀access฀
to฀ large฀ business฀ and฀ government฀ customers฀ around฀ the฀ world,฀ and฀ we฀ are฀ steadily฀
expanding฀ its฀ speed฀ and฀ reach฀ in฀ growing฀ markets฀ throughout฀ Europe฀ and฀ the฀ Asia-
Pacic฀region.฀Each฀of฀our฀network฀businesses฀received฀top฀awards฀for฀quality฀in฀2007฀
12/29/2006 03/29/07 06/29/07 09/29/07 12/29/2007
0%
10%
20%
30%
5%
15%
25%
-10%
-5%
Verizon S&P 500
2007 Total Return
22.2%
5.5%
$32.3
$38.0
$43.9
Wireless
Revenue
(billions)
05 06 07
51.3
59.1
65.7
Wireless
Customers
(millions)
05 06 07