Verizon Wireless announced its quarterly earnings on Thursday and the company had an exceptional three months. Service revenues grew 7.5 percent year over year to an impressive $16.2 billion. Total revenues climbed to $19.0B, another 7.3 percent yearly increase. Retail postpaid bills also increased 6.5 percent from last quarter, with the average customer now paying Verizon a hefty $145.42 per month.
Subscriber numbers were also on the rise. Verizon confirmed that it added 1.8 million new retail connections in the quarter and 1.5 million of these connections were retail postpaid lines. The company now has a total of 95.9M retail connections and 90.4M of those connections are revenue-generating postpaid retail lines. Verizon has 34.8M retail postpaid accounts, which means many of these 90.4M retail postpaid connections are on shared accounts.
Smartphones are also on the rise at Verizon. The carrier sold 6.8M smartphones in the quarter, and smartphones are now used by 53% of Verizon’s retail postpaid customer base. Android is still outselling the iPhone with the carrier moving 3.4M Android handsets and 3.1M iPhones in the quarter. For the iPhone, Verizon confirmed it sold 651,000 iPhone 5 models in the week the phone was on sale during the quarter.
[Via Verizon Wireless]