updated 10:24 am EDT, Thu April 18, 2013
Four million iPhones activated on Verizon in quarter
Verizon has managed to secure an extra 677,000 subscribers to its postpaid wireless service in the first quarter of this year. Quarterly financial results released by the carrier show it as having a total of 720,000 net retail connections for the quarter, with its entire wireless subscriber base hitting 98.9 million, a year-on-year increase of 6.4 percent.
By the end of the quarter, smartphones accounted for over 61-percent of the carrier's phone base, with 7.2 million smartphones being activated during the period. Of the 7.2 million, approximately 2 million units consisted of the iPhone 5, 2 million for older iPhone versions, and 5.9 million were LTE-ready devices. Wireless revenues increased 8.6-percent year-on-year, with the operating income margin of 32.9 percent and the 50.4-percent segment EBITDA margin on service revenues being a record for the company.
In terms of its wireline business, FiOS saw an extra 188,000 Internet customers, and 169,000 Video customers, bringing the customer numbers to 5.6 million and 4.9 million respectively. FiOS revenues raised to $2.6 billion, or 15.1 percent year-on-year. Broadband customers now total 8.9 million, increasing 1.4 percent.
Total operating revenues for the quarter hit $29.4 billion, a year-on-year increase of 4.2 percent. Operating income grew 19.8-percent to $6.2 billion, up from $5.2 billion in the first quarter of 2012.