Verizon hits 98.9 million subs, revenue grows to $29.4 billion in first quarter

Verizon hits 98.9 million subs, revenue grows to $29.4 billion in first quarter
Verizon Wireless posted a healthy growth, increasing subscriber count by 677 000 to 98.9 million as its revenues grew to $29.4 billion in the first quarter of 2013. The carrier posted an operating income of $6.2 billion in Q1 2013, up by 19.8 percent from the same period last year. Earnings per share also grew to 68 cents, up 15.3% year-on-year.

Verizon is the nation’s largest carrier in terms of subscribers and it is also the one with the most prolific 4G LTE service, covering 287 million people in the United States.

The carrier has recently submitted a $1.5 billion bid to acquire Clearwire spectrum for its network.

“Our strategic investments in wireless, wireline and global networks have given us the platforms to sustain momentum and take advantage of growth opportunities in key markets for broadband, video and cloud services,” Verizon’s chief executive Lowell McAdam said. “With ongoing improvements in operating efficiency, we expect continued growth in free cash flow and earnings as we move through the year.”

source: Verizon

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15 Comments

1. TROLL

Posts: 4851; Member since: Apr 13, 2012

VERIZON AND VODAFONE THE BEST™

3. Droid_X_Doug

Posts: 5993; Member since: Dec 22, 2010

VZW is harvesting the fruits of its early and significant investment in LTE. AT&T is still rolling out its LTE network, while T-Mo and Sprint are in the earliest of stages of rolling out their LTE networks.

2. gmracer1

Posts: 646; Member since: Dec 28, 2012

Mucho dinero!

8. JunitoNH

Posts: 1946; Member since: Feb 15, 2012

Yes, bandidos y ladrones.

4. InspectorGadget80 unregistered

Verizon is going too loise half those billions if they dont pull two year contract

6. TROLL

Posts: 4851; Member since: Apr 13, 2012

They have the very best coverage, that's what concerns the utmost™ VERIZON and "VODAFONE here in the UK is known and used by prestige and is a brand trend"™

9. JunitoNH

Posts: 1946; Member since: Feb 15, 2012

Oh.........don't you worry, they will. What they are not going to pull are their prices.

14. Droid_X_Doug

Posts: 5993; Member since: Dec 22, 2010

You can set up a month-to-month account with VZW right now. Don't even need to buy a phone from them. The customer provided equipment just has to support the VZW frequencies. If you are wanting VZW to cut their prices, don't hold your breath.

5. Daftama

Posts: 641; Member since: Nov 03, 2012

And they are still money hungry

7. speckledapple

Posts: 902; Member since: Sep 29, 2011

how interesting would it be in the us if verizon and att were both broken up into several carriers of different types and uses.

10. Rockbottom97

Posts: 27; Member since: Jan 08, 2013

Funny, the goverment did that to ATT and divided them up into smaller versions of itself. But, after time and like the Terminator thing from the 2nd movie, it reabsorbed all of its small subsidaries and became the huge juggernaunt ATT is today.

11. Rockbottom97

Posts: 27; Member since: Jan 08, 2013

Not surprised but I think next quarter will be the interesting one with a good first look at TMo's new contract plans and seeing how many customer adds they have overall. That will be a good first look if subsidized phones are here to say or if there is a chance contracts are going away.

12. jcpwn2004

Posts: 314; Member since: Jan 18, 2012

It's amazing to me that verizon is able to post a profit like this while deploying new lte networks. Just shows how much they're over pricing their service.

13. johnriii

Posts: 248; Member since: Oct 17, 2011

what's amazing is that they still have 98.9 million subscribers, even with tons of people jumping ship. I guess service coverage DOES matter.

15. jcpwn2004

Posts: 314; Member since: Jan 18, 2012

Unfortunately it does. I've used t-mobile & sprint, and if you're not in a big city the coverage is pretty bad. Currently using an At&t prepaid.

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