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Verizon claims $5.2B Q2 profit, 1M more wireless subscribers

updated 10:28 am EDT, Thu July 18, 2013

Over half of 7.5M Verizon smartphone activations are iPhones

Verizon has posted rising revenues and a higher profit in its most recent quarterly results, along with an increase in its customers. The carrier gained one million net wireless subscribers in the quarter, with 941,000 opting for contracts, an improvement from the 677,000 it added to its roster in the previous quarter alone.

Profits of $5.2 billion, a 21-percent increase on the same period last year, received a one-time bump from a recalculation of one of the carrier's pension plans, which effectively raised its per-share profit from 73 cents to 78 cents. Overall revenues of $29.8 billion saw $20 billion of it come from its wireless business alone, while Wireline revenues rose 4.7 percent to $3.6 billion.

During the quarter, Verizon Wireless activated a total of 7.5 million smartphones, later stating that 3.87 million of the sales are made up of iPhones. Though iPhones make up just over half the phones sold on the carrier, it is still a decrease compared to the 4 million iPhones sold in the first quarter. Verizon did not break down the iPhone sales further, nor those of non-iOS devices, but did add that 6.4 million of the new devices were able to connect to its 4G LTE network, which currently carries 59 percent of network traffic.

For its Wireline operation, FiOS revenues grew 14.7-percent year-on-year to $2.7 billion, with the company adding 161,000 net FiOS Internet connections and 140,000 net new FiOS Video connections, bringing the total subscriber numbers to 5.8 million and 5 million respectively.



By Electronista Staff
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