Verizon announced their earnings for Q3 2013 today, and they've impressed once again. Continuing to steamroll the industry, Verizon reports over one million new wireless connections, and reports their LTE service is now carrying 34% of their network activity.
Overall, Verizon reports they have an 8.4% increase year-over-year in earnings on a $0.78/share increase. This time last year, they had a $0.56/share uptick. Verizon also notes they saw an 8% increase in retail sales revenue, and a 33.8% increase in operating income.
Specifically related to wireless technology, Verizon sees a $20.4 billion increase in total revenue over this time last year, and wireless has grown 7.2% for big red. Service revenues were up $17.5 billion, and retail sales grew 8% to $16.8 billion.
The 1.1 million new wireless connections include 927,000 postpaid customers. According to Verizon, this now gives them 101.2 million wireless customers overall, and 95.2 million postpaid customers. That’s a 5.2% increase over last year, on an average of 2.7 connections per account.
Through their move away from unlimited data, Verizon now has 42% of their postpaid account on a “Share Everything” plan. Verizon also notes their LTE network covers 97% of the US population, in 500 markets. According to Verizon, over 300 million people have access to their LTE service, which they note has seen a “substantially completed deployment”.