Verizon Wireless continues to bring its A game, adding an additional 33 markets for its 4G LTE service as it posts $28.6 billion in operating revenues for Q2, announcing that smartphones now make up a full half of its postpaid customers.
Verizon Wireless announced its Q2 2012 earnings on Thursday, and there's nary a negative to be found there as the company increases its 4G LTE network to more than 400 markets by year's end.
On the money front, Verizon Wireless racked up sales of $15.8 billion for service (a 7.3 percent increase over last year) and another $6.9 billion from data alone (an increase of 18.5 percent), adding 1.2 million wireless customers during the three months for a grand total of 94.2 million by the end of the quarter.
Equally impressive is the company's $28.6 operating revenue, which marks a 3.7 percent increase from last year at this time. Even the company's operating income was up, from $4.9 billion in Q2 2011 to $5.7 billion for the April through June period.
Perhaps the most interesting factoid from the company's financials was the one tucked away in its "Wireless Operational Highlights" section.
"At the end of the second quarter, smartphones constituted 50 percent of Verizon Wireless' retail postpaid customer phone base, up from 47 percent at the end of first-quarter 2012," the press release notes.
Meanwhile, Verizon is lighting up 33 more 4G LTE markets today, bringing the total to 337. Service is also getting expanded in 32 existing markets, and the company is eyeing more than 400 markets by the end of this year.
"Our rollout of Verizon Wireless 4G LTE in the United States is on track and we are confident we will meet our target of providing 4G LTE to our customers in more than 400 markets by the end of the year,” said Nicola Palmer, chief technical officer of Verizon Wireless. “With more markets than all other U.S. wireless providers combined, our customers are the first to learn of the great advantages of the Verizon Wireless 4G LTE network for streaming video, downloading files, uploading pictures and so much more, at consistently reliable fast data speeds.”
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RicSG
July 19, 2012 at 7:38am
Just to be clear I am not a Sprint customer so people who might think i am talking bad about Verizon and AT&T coz I am sprint customer, no i am not. I am the victim of one of them who just hopes we wake up and do something about. If I am wrong check your bills and then tell me if I am wrong.
RicSG
July 19, 2012 at 7:36am
Sad o see why people are excited about this news. The did well and made more money only coz they gave the consumers less for more price, not get more consumers. Increasing price and showing your profit only shows that these companies (Verizon, AT&T) don't care as long any how it shows increase in profit on their finance. Wake up people, the only way they will take care of you and not cap you or charge you more for the same product which you were playing less before is if we take actions. These two companies need to be punished.
