Verizon rakes in $7.1 billion in profits, iPhone sales surprisingly flat

Verizon rakes in $7.1 billion in profits, iPhone sales surprisingly flat
Verizon Wireless, the nation’s largest carrier, has broken the 100 million subscriber threshold and added 1 million new subs in the third quarter of the year. Verizon scored stellar profits of $7.1 billion on total revenue of $30.3 billion for the July-September quarter. This marks a 4.4% growth in revenue on the year.

Verizon also had good news about its 4G LTE network deployment as its nears completion and now 4G covers 99% of the carrier’s 3G network. Now, the overwhelming majority, or nearly 303 million, Americans have access to blazing-fast 4G cellular data.

Somewhat surprisingly, though, with all this, iPhone sales stayed flat despite the launch of the new iPhone 5s and 5c in the last week of the quarter. In the three past months Verizon sold 3.9 million iPhones. Still, iPhones were the dominant part of Verizon's smartphone sales - 51% against 49% for all the rest.

The total subscriber count for Verizon grew to 101.2 million subs with 95.2 million of them being postpaid connections.
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source: Verizon

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11 Comments

1. Reality_Check

Posts: 277; Member since: Aug 15, 2013

4.4% growth eh? :P [Even Verizon is expecting the latest version of Android, though it has a horrible reputation for updating phones :D]

2. roldefol

Posts: 4744; Member since: Jan 28, 2011

Verizon doesn't care nearly as much about updating existing phones as they do about selling new ones. I found it uncanny that the Jellybean update for the Bionic and Razr slowed and bugged so much that users are pretty much forced to upgrade.

9. bwhiting

Posts: 188; Member since: Jun 15, 2013

yeah caused my phone to reboot without even touching it or not even allowing it to power down unless I had used the whole battery...can't upgrade the line till next year so afraid to even replace it with another Razr unless I risk getting a new line or device and going the route of cancelling it

3. tedkord

Posts: 17076; Member since: Jun 17, 2009

A couple of places near me are in that 1% of 3g coverage that 4g doesn't cover. I dread being in those places if I need to do something data related on my phone, because Verizon's 3g is worse than dialup.

8. mcshank

Posts: 47; Member since: Apr 24, 2013

I was on the droid x which is 3g only for 3 years and could browse the web fine, watch netflix with very little loading and stream pandora with no buffering. Speedtests dont matter when its real life usage and I rarely had problems doing anything internet related on a 3g phone. But thats in the past as I am on the note 3 and have lte now with 0 dead zones that I can find where I live.

4. ardent1

Posts: 2000; Member since: Apr 16, 2011

One Wall Street Analyst has iPhone sales up 25%, yoy, which is the correct way to look at it.

5. rusticguy

Posts: 2828; Member since: Aug 11, 2012

Analysts just dream about Kate Upton but never manage to take her out on a date! That said, was the analyst figure for Apple Inc or Verizon's iPhone sales?

6. ardent1

Posts: 2000; Member since: Apr 16, 2011

We are talking about iPhone sales in the latest Verizon earnings release. Analyst was Walter Piecyk -- it looks like the 25% yoy number may be from the conference call.

7. erikhdz36

Posts: 19; Member since: Mar 04, 2013

Yeah yeah hate as much you like but Verizon's network is by far the best I tried att sprint T-Mobile they all suck so hate on Verizon haahaa

10. bwhiting

Posts: 188; Member since: Jun 15, 2013

even though that Razr update messed me up a bit I still would stay with them than going to any other carrier just due to I never get bad customer service and also get my issue resolved on the first call without calling back constantly

11. jake85012

Posts: 2; Member since: Feb 08, 2014

I was with Verizon for 9 yrs, even though they are the evil empire the coverage is the best. I am with AT&T now, mostly because verizon does not offer a very good plan for just a person that wants to activate one phone. Not everyone needs a damn family share plan. For unlimited talk, text and 2gbs data on verizon with one phone I was paying $100 mo. + taxes With the AT&T Go Phone plan I get the same for $60 and taxes included. and no contract and 4G LTE I see Verizon has started to offer a single line 4G Lte plan $60 mo + taxes and 1gb data. I guess I'll stick it out with AT&T

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