Verizon Wireless now up to 89 million customers
The nation's largest cellular carrier now has 89 million customers after reporting an increase of 1.2 million in the third quarter. The increase is net of acquisitions and adjustments. After the third quarter, Big Red now serves 86.3 million retail customers, up 25.4 percent over last year's figure at this time. Revenue rose 24.4% in the three months, churn remained low at 1.13%. Internet and data use rose sharply among Verizon customers as revenue for data rose 48.1%. Operating income margins were healthy at 28.3% and service revenue showed a margin of 46.1% EBITDA. These figures were released as Verizon reported its' consolidated third quarter earnings report. Bottom line figures for Wireless were not divulged. The fourth quarter should benefit from an expected strong holiday shopping season for the company as the carrier has a number of highly anticipated smartphones coming in the next few weeks including the BlackBerry Storm2, the Android powered Motorola Droid and the HTC Desire.