Verizon Wireless nets $12.1B revenue in Q2

Verizon Wireless nets $12.1B revenue in Q2
Backing up its announcement that they gained 1.5M customers in Q2, Verizon released its full earnings report today. They posted industry-leading revenue at $12.1B, increased data revenue by 45.3% and service revenue was up 11.6% to $10.5B. With 68.7M customers Verizon closed the gap slightly on industry leader AT&T, who gained 1.2M in Q2 2008. Customer churn also dropped to an all-time low of 1.12%, down from 1.3% at this time last year. Not all the news was good though, ARPU was down slightly year over year, from $51.84 to $51.53, though data ARPU increased 31.3%.

source: RCR Wireless

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70 Comments

1. unregistered

Verizon will soon be #1 carrier hahaha

2. unregistered

No T-Mobile will be after their 3G comes out on October first. Also on October 1st, T-Mobile is getting the HTC Dream, the first Android phone. Plus the 5 megapixel Motorola ZN5 and a whole bunch of other phones. It may take a while but T-Mobile will end up at the top.

4. unregistered

i think not. Verizon is going to be 4G in a few years. T-Mobile just started their 3G network. Verizon has a better reception than TMO.

6. phillipxenxciel

Posts: 14; Member since: Jul 23, 2008

about t-mobile, na~~~they are always going down, i work for them, i know. their phones sux, their reception sux. even they get the HTC DREAM, Android and the motorola 5mpx, wont help much~

11. C-Chicki unregistered

I highly doubt that actually. Untill T-Mobile works on their reception issues, I highly doubt you'll ever see them on top.

14. unregistered

lol, t-mobile??? Do you know how many customers t-mobile currently has...and even worse, do you know how little coverage t-mobile has?? lol lol lol

22. unregistered

ha ha ... did somebody say T-mobile they are almost as bad as sprint....

28. unregistered

You're either crazy or work for them. Every other carrier will begin launching their 4g and leave t-mo in the dust just like they did with the switch to 3g.

30. unregistered

no/.... they wont.

51. unregistered

Verizon Wireless is a very solid company. I am a current employee and everyone should be on the lookout as to what we will be offering. What other companies release new features for phones at the rate we do? Especially with the launch of our Rev. A push to talk we plan to see alot of sprint/nextel customers and businesses switching to our network. As far as those who think Verizon Wireless is expensive, you have to realize you pay for what you get. Keep in mind there are alot of customers out there who may be employed for a company and not receiving your discounts. Next time you are at a Verizon Wireless store...if they do not ask where you work maybe you should ask them to see if you have any discounts. Government employees, state employees, etc. there are numerous companies that also receive discounts(McDonalds, Home Depot, Circuit City...just to name a few). Remember do not be afraid to ask; we will gladly apply an discount to your account to help you out. We never stop working for you.

53. DamonO unregistered

#2 anonymous Dude you're smoking crack! T-Mobile will never be #1 unless they buy out AT&T, Verizon or Sprint.

56. unregistered

wow. you need to read a book. that was the most ridiculous thing i have ever read. it will be close between verizon and at&t, but i'd say it is safe to assume verizon will take the lead if the alltel merge is a success.

62. unregistered

Wow.. I work for VZW to but this post was just plain cheesy...

69. unregistered

61.....T-Mobile is 1/10 the size of at&t Verizon and Sprint. The only thing they will be buying anytime soon is a lawyer to help them file a bankrupcy. Moron.

70. unregistered

are you stupid?

3. RyanKing unregistered

Im really glad Verizon is doing well in sales, its not just good for the customers but the economy as well.

5. unregistered

i love VZW as a customer. hopefully with all these profits, etc., plan prices will drop! oh, and hurry up with the HTC Touch Diamond 'testing' and get it out there soon! i'm ready to buy!!!!

23. unregistered

I'm hopping about that too. Stop being too greedy! Give us a little break :-)

34. vzemp unregistered

u should stay happy that the profits are so high. They allow us to do things like spend 5billion a year on our network and towers that keep us the best. ask the other companies just how much they spend on their networks. there is a reason we drop so few calls. as far as the plan pricing.. the market will push the plans up or down with competition, just as they always have. the unlimited plans by all carriers are a responce to this, so in time im sure things will find their way down... as soon as the US dollar quits being so darn weak!

7. chup unregistered

Well, I too am happy for Verizon, as I am a proud customer. I particularly like their customer service; they are as courteous as they are helpful as I recently called them to ask for help about how to get a replacement for a lost phone. Anyway, as with any carrier, there are plenty of things that Verizon could do better. One thing is improving their data network. It's my humble opinion, but pricing of data plans and speed of internet are things they could improve on. Also, I think they need to loosen their user interface restrictions more, so that phones can seem a lot less rigid in programming... maybe that's just a crapshot of a hope. It's honestly my hope that some Verizon CEO is nervously checking this thread worrying about what we're saying like as if it's gossip going around the school. Oh and I've always wondered this...Why didn't VZW ever pick up the Apple Iphone when, according to rumor, Apple approached VZW first to be its carrier... Now I think that was terrible mistake... can anyone corroborate this bit of gossip?

8. unregistered

because apple wanted to much control over the product. They wanted to pretty much sell the Iphone, use verizons network, and verizon really have no say so in much of anything, and verizon didnt like this and passed up on it. i think it wasnt to big of a mistake, there still gaining on at&t without it, will be bigger with the alltell merger, and will probly stay that way, they make up with the absence of Iphone with more choices of phone.

9. clifford unregistered

your are right plus apple didn't want to verizon wireless to change the interface as well but it really doesn't matter at this point cause they are lots of other touch phone that is coming out like the diamond, the blackberry thunder, the htc raphael and etc but happy that verizon wireless is doin well in the end is obvious that at&t and vzw will be the top 2

16. unregistered

It actually had a lot to do with apple unwilling to make changes to suit verizons standards. The UI wasnt a huge issue(ie windows phones) but the fact it couldnt be insured and apples refusal to make it with a removable battery did play a huge part. Why should verizon bend for apple and not any other maker? The end result is now verizon will soon allow third party phones to be out on the network but not sold at verizons stores. You will be on your own as verizon wont directly handle third party phones but it will allow for more diversity.

35. vzemp unregistered

totally agree, it wasnt a mistake at all. I also heard from higher ups, that they didnt even want to use our 3g network and wanted to use the older 1xrtt for some odd reason... steve jobs is used to total control. guess what, that doesnt work with a company with such strong financials. we are still taking ATT, even with thier iphone sales. Its just the only reason we havent taken them yet.

39. 8lias unregistered

VZ and Apple are control freaks, therefore they don't play well with each other. VZ is like an Autobahn, need a fast car to fully use its highly extensive network. Many may oppose this but iPhone is a pretty slick super car driving on bumpy road at 25 mph with ATT. My vote is VZ for service, iPhone for handheld. Oh well....there goes the perfect world we all hoping for.

54. unregistered

Yes, it is true that VZW will be allowing third party phones on the network by end of year or early next year but, there will be a testing process/period that every device will need to go thru before it happens. The major reason that VZW did this wasnt for phones it was for data devices and other custom devices that need wireless access. There will more than likely be a cost for the company/ individual to go thru the testing process. The device's will still need to be CDMA. Just a little info.... All in all this change will mean minimal new adds for Verizon and hardly any at all for the retail side of things.

68. unregistered

yeah this is exactly right, when apple came to vzw with the i-phone, apple pretty much wanted to bake the cake and eat it too. They wanted all the credit and to be able to market the i-phone all by itself. As much as i used to think verizon wireless made a mistake by passing on the i-phone, I applaud them for telling apple no thanks...the numbers speak for themselves, with an industry leading $12.1 billion in revenue and 1.5 million add ons in the second quarter alone.

10. Michael unregistered

I am glad to hear they are doing well. I work for Verizon Wireless and I know at times it may be hard to believe but they really do have focus on the customer. There are many areas that they are improving on in customer service to make sure that we retain the customers that we have and gain new ones. These numbers are great and I hope we grow to become the biggest company but I am sure that it will be here soon.

12. unregistered

Once the Alltel purchase and conversion truly takes effect, Verizon will come back as #1 also the 4G network will act as a CDMA/GSM combined network just more advanced with T1 type speed on a cell phone.

13. unregistered

I think Verizon will be #1 after the merger but will be close with AT&T. They have to divest quite a few markets, especially in the Midwest due to overlapping coverage with Alltel and no other major carriers in the area. AT&T might be looking at picking up those areas and that would make things pretty interesting. I think Verizon deffinetly has a better network now, but would have to disagree on the phone selection versus AT&T. We all know that GSM carriers tend to get the hottest phones first since that's what the rest of the world is using for a network. Maybe with a mixed network of CDMA and GSM more high-end phones will be headed to Verizon.

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