The Verizon Wireless Q1 2014 quarterly report is in and it looks like revenues are up year-over-year. Details from the report show the first quarter total revenues as $20.9 billion, which is a 6.9 percent year-over-year increase. Additionally, service revenues were $18.0 billion and that made for a 7.5 percent year-over-year increase.

The remaining revenue related number was $17.2 billion, which was for retail service and means a 6.7 percent year-over-year increase. The increase in revenues can likely be associated with the more than half-a-million new subscribers. Verizon added 549,000 new customers and of those, 539,000 were signed up with a regular postpaid account.

Some other highlights from the report include the following;

  • 35.1 million retail postpaid accounts at the end of Q1 2014 (a 0.3 percent increase over Q1 2013).
  • 103.3 million retail connections, including 97.3 million retail postpaid connections (a 4.4 percent year-over-year increase).
  • Retail postpaid churn was 1.07 percent for Q1 2014, and retail churn was 1.37 percent.
  • Retail postpaid ARPA (average revenue per account) increased 6.3 percent over first-quarter 2013, to $159.67 per month.
  • Smartphone usage accounted for 72 percent of the retail postpaid customer base at the end of Q1 2014, which is up from 70 percent at year end 2013.

This happens to be the time for quarterly reports. We’ve recently see the first quarter report from AT&T, which showed the company as having a strong first quarter. Some of that first quarter success for AT&T is due to growth in postpaid smartphone sales, and also due to the acquisition of Leap Wireless. On the topic of Leap, we recently learned AT&T had plans to get aggressive and relaunch the brand during the second quarter of the year.

SOURCE: PR Newswire