Verizon announces impressive subscriber gains, strong earnings growth in Q2 2013

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Verizon announced its quarterly earnings for the second quarter of 2013, and the results were on par with Wall Street estimates. The wireless carrier  reported total operating revenues of $29.8 billion, a 4.3 percent increase over the second-quarter of 2012. Operating income increased 16.0 percent to $6.6 billion in Q2 2013, up from $5.7 billion in the same quarter last year.

Verizon added 1.0 million net retail connections in the quarter, of which 941,000 were retail postpaid lines. The carrier now has 100.1 million retail connections, a 6.3 percent increase year over year. The bulk of these connections (94.3 million) are lucrative retail postpaid lines. The carrier activated 7.5M smartphones, over half of which were iPhones. 27 percent of these smartphone activations were new to Verizon.

Verizon’s LTE deployment is almost complete. The carrier confirmed that it has covered more than 99 percent of its current 3G network footprint with LTE.  Its 4G LTE service now extends to 500 markets, covers about 301 million people  and is available in all 50 states.  Verizon also announced that it added 6.4 million 4G LTE devices during the quarter and confirmed that 59 percent of all traffic goes through its 4G LTE network.

[Via Verizon Wireless]

 

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