Verizon – Apple’s iPhone carrier partner in the US has posted a first-quarter profit of $3.9 billion, or 59 cents a share in 2012, compared with a year-ago profit of $3.26 billion, or 51 cents a share, an increase of 15.7%.
Verizon has posted total operating revenues of $28.2 billion on a consolidated basis in first quarter of 2012, an increase of 4.6 percent compared with first-quarter 2011. Revenues for its wireless services business grew by 7.7% to $15.4 billion in the first quarter of 2012.
Verizon’s Wireless division added 734,000 retail net customers in the first quarter, including 501,000 postpaid customers.
Verizon also announced that it now has 93 million subscribers including 88 million retail postpaid customers, which has increased by 5.2% year over year.
Verizon has also reported that the average revenue per user has also gone up by 3.4 percent to $53.66 and the postpaid data ARPU increased to $23.80, up 16.0 percent year over year.
Verizon’s 4G LTE network will cover two-thirds of the population in the US when it introduces its 4G LTE network in 27 new markets and expands in 44 markets today.
Though the net subscriber numbers and the sharp increase in postpaid data ARU seems to suggest that Verizon has started seeing the benefits of offering iPhone, Verizon has strangely not mentioned anything about Apple’s iPhone, which is usually the highlight of the quarterly results. We’ll probably get more information during the earnings call.
CNET’s Roger Cheng reports that Verizon sold 3.2 million iPhones in Q1 2012.
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