Verizon reports strong first quarter numbers

Verizon reports strong first quarter numbers
The nations' largest cellular company, Verizon Wireless, reported good numbers for the first quarter continuing the momentum for wireless carriers in general. Big Red saw the number of customers using its cell network increase by 28.8% over the three months to 86.6 million, which includes a net addition of 13.2 million customers from the acquisition of Alltel. Excluding the purchase, Verizon Wireless added 1.3 million net retail customers for a total of 84.1 million at the retail level. Verizon reported the industry's lowest churn rate at 1.14% and many of the company's customers were using their cellphone to surf the web, text and send emails as data revenue rose 56.2% during the period.

Thanks to the strength in wireless, Verizon reported a total profit of 58 cents per share in the first quarter, a figure that includes Big Red's wireline businesses. That was an increase from the 57 cents per share reported last year. Revenue grew 11.6% year over year to $26.6 billion and cash flow soared 20% from the 2008 quarter to $6.4 million dollars. Is that Scrooge McDuck taking a flying leap into that cash pile in Verizon's vaults?

source: Verizon

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16 Comments

1. drewsky

Posts: 147; Member since: Jan 04, 2009

Good job Verizon. I know the fanboys are coming... I hear the pitter patter of little feet.... LOL

2. VZWEMP

Posts: 158; Member since: Dec 11, 2008

please people stop with the whole fanboy thing. seriously. people cant even leave a comment anymore without getting persecuted. over the past year this site has gone from a site to DISCUSS mobile devices and the mobile industy as a whole to people just using is as a venue to broadcast their their sarcasm or lack of knowledge. Let people have their preferences. we ALL do. Just because one chooses Verizon over At&t or the iPhone over the Storm or vice versa doesnt make them a fanbboy. this site needs to return to its original state as soon as possible.

4. Mr Coolguy Face

Posts: 28; Member since: Jan 20, 2009

AMEN ! ! ! !

9. smimi15

Posts: 21; Member since: Apr 05, 2008

I pitter pattered all over drewsky's mom. buuuuurn.

11. tflex

Posts: 146; Member since: Oct 24, 2008

although i agree with u completely, u sound just like godfather did in the beginning... and look how he turned out.

16. Fanboys Suck

Posts: 609; Member since: Dec 12, 2008

I guess this means I need to get a new User Name... ? (But really, Fanboys exist, and they do suck!) But yes, Amen to VZWEMP for setting it straight: just because you have a preference, doesn't mean you are a fanboy... but being a little prick and spouting off stupid crap about how someone's carrier is God-Like and all powerful and blah blah blah... you get the picture.

3. bigfanboyred

Posts: 141; Member since: Jan 17, 2009

doing a good job in this environment is hard for any company or industry!

5. drewsky

Posts: 147; Member since: Jan 04, 2009

I know I know just kidding.

7. vzw fanman

Posts: 1977; Member since: Dec 11, 2008

here i am!!! i am so glad verizon is doing well

6. TestManVZW

Posts: 25; Member since: Apr 14, 2009

Good stuff VZW. I am really excited to see how this next 2 years plays out with LTE and the rumor of a VZW iphone next year as well. If both of those happen in the next 2 years, VZW could seriously pull away from AT&T in terms of total customers. I know a lot of my friends have switched from VZW to AT&T just for the iphone and hate the service, so it will be exciting to see what people decide to do when they have options opened for them.

8. trentsinmypants

Posts: 324; Member since: Jan 29, 2009

once again drewsky made me laugh out loud....thanks man. I needed that! :D *listens for more pitter patter* haha! Drewsky = resident comedian! :D

10. YouLostTheGame

Posts: 441; Member since: Dec 11, 2008

I'll be interested to see what the earnings are for AT&T in comparison to VZW. I think A LOT of their new customers over the last few years have been due to the iphone. Now with all these rumors swirling around, I'll be very curious to see how many people come back to VZW with an iphone on their network. Looking forward to that and the LTE build-out.

12. Keepin_Real

Posts: 23; Member since: Apr 22, 2009

VZW has done well in the Q1 of 2009. AT&T has done well in the Q1 of 2009. Where are those Wireless industry experts now? Besides claiming we will see low ARPU but a "Major Economic Hit" to the wireless industry and how "Prepaid will impact carriers heavily. I want to hear those idiots analysis now.

13. mistapersia

Posts: 19; Member since: Jan 29, 2009

How well did Tmobile do?

15. vzw fanman

Posts: 1977; Member since: Dec 11, 2008

probably awesome because they have the best coverage worldwide

14. shimmyx20

Posts: 280; Member since: Mar 03, 2009

Very impressive numbers from VZW! I'm glad to see that the wireless industry is still strong during the recession

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