Verizon 1Q13 revenues creep up 4.2%; 5.9m LTE activations in last quarter

19 Apr 2013

US telecoms giant Verizon Communications has reported revenues of USD29.42 billion for the three months ended 31 March 2013, an increase of 4.2% year-on-year. Consolidated operating income for the first quarter was USD6.22 billion, up 19.8% from USD5.20 billion on an annualised basis. Net income for the January-March period totalled USD4.86 billion, compared to USD3.91 billion one year earlier.

In operational terms, mobile unit Verizon Wireless saw its retail subscriber base grow 6.4% to 98.93 million, including 93.19 million post-paid customers. The cellular unit added 720,000 million retail customers on a net basis in the first quarter, including 677,000 net post-paid additions; as at 31 March smartphones constituted 61.4% of Verizon Wireless’ post-paid user base. In addition, during 1Q13, Verizon confirmed sales of 5.9 million Long Term Evolution (LTE)-suitable devices, for a total of 29.265 million, while 54% of the company’s total data traffic is now carried over its LTE network.

United States, Verizon Communications, Verizon Wireless