Verizon Q3 Earnings: Adds 1.1 Million New Customers, Rakes in $20.4 Billion in Revenue

Note 3 Verizon logo

Seems like every quarter the title for our post about Verizon’s earnings remains the same. They always somehow manage to add at least a million new customers each quarter and make a boat load of money. This quarter was no different, as you can tell by the title. Now Verizon actually has more to their company than just the wireless industry, but since we are all about Android news here, we’ll just be focusing on the Verizon Wireless part of the company. The quarter was very strong for big red, which is no surprise. Here’s a break down of the numbers:

  • Revenues: $20.4 billion, which is a 7.2% increase year-over-year
  • ARPA (average revenue per account): is about $155.74, which is a 7.1% increase year-over-year
  • Operating income has gone up 2 percent to 33.8%
  • 1.1 million net retail connections added
  • Total Customers reached, 101.2 million

There’s no doubt that Verizon is still number one, even though it seems like AT&T and the others are catching up. With Verizon adding another million customers each quarter, it’s going to be hard for the others to catch up. Here are some other numbers. There are 35 million postpaid accounts, with an average of 2.7 connections per account. Along with 42% of that 35 million postpaid accounts are on the Share Everything plans. As of Q3 2013, Verizon is claiming that smartphones account for 67% of their customer base, which is up from 64% in Q2. The amount of people who left Verizon for another carrier was just 0.97%, while it’s still very low, it is an increase over the last year.

Onto the network, Verizon says that their 4G LTE network now covers “more than 99% of their 3G footprint. Which translates to over 500 markets of LTE and over 97% of the US population is enjoying 4G LTE. This is all based on Verizon’s own numbers as well. Verizon has also started rolling out 4G LTE on their AWS spectrum, which is allowing people in some markets to experience speeds up to 80mbps. Similar to the speeds of regular 4G LTE when it first launched.

All in all, a pretty good quarter for big red, and I expect the same for Q4 come January.