Verizon profit and revenue grow in Q3 as iPhone 5 boosts subscriber additions

Jan 23 2014

Verizon profit and revenue grow in Q3 as iPhone 5 boosts subscriber additionsBoosted by the launch of Apple’s (AAPL) iPhone 5, Verizon (VZ) on Thursday reported a solid quarter with net subscriber addition figures that crushed Wall Street’s lofty expectations. Analysts saw Verizon adding 901,000 net postpaid subscribers last quarter but heavy iPhone demand pushed the key metric to 1.5 million, with total net subscriber adds reaching 1.8 million in the quarter. The carrier earned $0.56 per share, up more than 14% from $0.49 in the year-ago quarter, and revenue grew 4% to $29 billion. Operating income margin grew to a record-high 31.8%, and Verizon now claims 95.9 million total retail connections including 90.4 million total retail postpaid connections. The company said on its earnings call that it activated3.4 million Android phones and 3.1


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    Originally posted 2012-10-18 23:10:41. Republished by Blog Post Promoter

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