When it comes to the iPhone, it looks like for now rising tides are lifting all boats: on the back of strong results from AT&T (NYSE: T) and Apple (NSDQ: AAPL) yesterday, today Verizon also reported a strong set of quarterly results, boosted in part by strong sales of the new CDMA iPhone, which it started to sell this past February.
In total, smartphones now make up 32 percent of all devices on Verizon’s network. Here are some details from today’s earnings to show how that breaks down:
– Verizon sold 2.2 million iPhones in the first quarter of 2011. That works out to more than 53,000 devices per day, compared to about 40,000 per day at rival AT&T. In other words, for now it is outpacing sales of the phone on the AT&T network, which has been offering it since the iPhone launched and only lost its U.S. exclusivity when Verizon got the CDMA version of the device this year. works out to just over 52,000.
And while Verizon was very bullish on the outside on its launch of the iPhone, a note about how they actually managed supply and worried about demand levels: “We were cautious on the iPhone beause we were not sure of the demand and did not want to run into the backlog situation,” was one answer to how the phone was stocked in initial days.
– Strong results for the first 4G handset out of the gates. In just two weeks of sales, the HTC Thunderbolt sold 260,000 devices, which made up more than half of the 500,000 4G devices activated in the quarter. Together these two devices accounted for 54 percent of all of Verizon’s net adds for the quarter, the company said in today’s earnings call.
– Mobile data now represents 38.1 percent of all service revenues. In total the operator reported $5.5 billion in data revenues, an increase of 22.3 percent compared to the same quarter a year ago.
– Total revenues for Verizon Wireless (NYSE: VZ) were $15.8 billion, a growth of 4.4 percent over the same quarter last year. In total, the operator picked up 1.8 million new customers. Its total number of retail wireless customers is now 88.4 million.