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”.
I just switched from Verizon to AT&T after 10 years with VZW and I’m actually seeing better coverage and much faster speeds with AT&T so I am pleasently surprised with my decision to move.
AND they still can’t figure out how to “authorize” the Nexus 7 LTE. I really wish people would stop giving them money *sigh*
I strongly encourage those of us that are extremely, very and or just unhappy with Verizon taking unlimited data plans away after being grandfathered in, to take their business somewhere else. Sure, Verizon Wireless claims to have the best network, sure they claim to have the largest one but at the end of the day, why would anyone give their hard earned money to a corporation that lies to its customers. They take data plans away, they start charging $30 to upgrade phones which most of us change every 2 or so years allowing them to show obscene profit for their investors, have their CEO go in front of crowds and gloat on how your are screwing some of your paying customers. And they are making plenty of money, according to their statements, so it is not like they are hurting for money. Shame on you Verizon for taking greed to the next level. I know you have the right to do whatever you want. That’s why I am asking Verizon customers to take their business somewhere else by exercising the same right. All we can do is take our business somewhere else….