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.