To no ones surprise, Verizon reported another successful fiscal quarter. Big Red, the largest cellular provider in the United States, announced today that it had earned $30.3 billion in revenue in Q3, a 4.4 percent jump over last year. The company it also seen a 30 percent increase in operating income at $7.1 billion. Verizon Wireless’ cellular service business continues to grow at a steady pace, as it accounted for a third of its revenues (at $20.4 billion), while also adding 1.1 million new customers.
Speaking of customers, Verizon had 101.2 million wireless subscribers by the end of the quarter, 95.2 million of which were on contract.
“These strong third-quarter results reflect Verizon’s long-term investment in reliable, high-quality networks to deliver value to customers. Our unwavering focus on wireless, FiOS and strategic enterprise services has produced consistent performance, and we’ve delivered double-digit earnings growth in six of the past seven quarters. Verizon’s strategic networks form a powerful distribution platform for future growth and innovation,” says Lowell McAdam, Verizon chairman and CEO.
As for the numbers in phone sales, Big Red sold 7.6 million of them — more than half of those sales were iPhones (3.9 million sold). Apparently folks are bringing their iPhones to the carrier, which explains the slight increase in Apple devices.
It’s amazing how successful Verizon continues to be despite how insanely expensive their monthly service is. Kudos must go out to the company’s marketing and promotions team, as it’s one of the major reasons VZ continues to grab new subscribers.
Did any of you bring your iPhone to Verizon from another carrier?