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Verizon Wireless Q1 2012 Earnings Up 16%, 734,000 Net Subscriber

Verizon Wireless Q1 2012 Earnings Up 16%, 734,000 Net Subscriber

Verizon Wireless Q1 2012 Financial report now available. Verizon Wireless earned $18.3 billion, up 8.2 percent year over year. Retail service revenue also grew 8.9 percent year over year to $14.9 billion.

Data revenues climbed $1.1 billion to reach $6.6 billion, that’s 21 percent yearly increase. Data now represents almost half  (42.9 percent) of all Verizon’s service revenue. Retail postpaid data ARPU (average monthly service revenue per user) also increased to $23.80, a 16 percent year over year jump. Retail service ARPU is now $53.66, a 3.4 percent increase from last year.

Verizon Wireless added 734,000 retail net customers, excluding acquisitions and adjustments. This figure includes 501,000 retail postpaid net customers. Verizon now has 93 million total retail customers, of which 88 million are retail postpaid. The carrier has a low retail postpaid churn of 0.96 percent and a total retail churn rate of 1.24 percent.

Smartphone penetration also increased to 47 percent, up from 43.5 percent at the end of Q4 2011. More customers are buying smartphones with the category now accounting for 72% of postpaid phone sales. In the quarter, the carrier sold 6.3 million smartphones; one-third (2.1 million) were 4G LTE  and 3.2 million were iPhones.

Via Verizon Wireless

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