Verizon Communications has reported first-quarter revenue of USD28.2 billion, up 4.4% on the corresponding period last year. The growth comes on the back of increased sales from Verizon Wireless, thanks in part to the launch of the iPhone 4S in October. Post-paid ARPU grew 3.6% year-on-year to USD55.4, while the number of post-paid subscribers grew by 501,000, more than twice as many as rival AT&T. Overall net income came in at USD1.69 billion, up from USD1.44 billion in the first quarter of 2011.
Meanwhile, Verizon’s wireline business added 180,000 FiOS TV customers, down slightly on the 192,000 added last year, while new FiOS Internet customers rose by 193,000, compared with 207,000 net adds a year earlier. The telco is no longer expanding its fibre-optic network into new areas as it seeks to control costs, preferring instead to focus on selling more bundled packages to customers already covered by the network.