Verizon Wireless Q2 2012 earnings report shows increased smartphone adoption, significant growth in revenue

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Verizon reported its quarterly earnings Thursday morning and everything is up, up, up for the company. Verizon saw a 7.3 percent year-over-year increase in service revenues to $15.8 billion, an 8.6 percent year-over-year increase in retail service revenues to $15.2 billion and an 18.5 percent increase in data revenues. Data revenues now represent 43.6 percent of all Verizon’s service revenues thanks to increased smartphone adoption. The company also reported a record high increase in operating margin ( 30.8 percent yoy increase) and a record retail service ARPU, which grew 3.4 percent year over year to reach $54.29. Retail postpaid ARPU showed the highest growth in three years and climbed to $56.13.

On the subscriber side, Verizon added 1.2 million retail net customers, including 888,000 retail postpaid net customers. The carrier now boasts of 94.2 million total retail customers and 88.8 million total retail postpaid customers. Half of Verizon’s retail postpaid customers now have a smartphone, which is up from the 47 percent reported in Q1 2012. It’s LTE network continues to grow and now reaches 230 million people in 337 markets across the U.S. According to Verizon, this covers almost 75 percent of the population.

[Via Verizon Wireless]

 

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