Earnings: Verizon Wireless Service Revs Up 19 Percent

Verison Wireless reported service revenue of $5.5 billion for 1Q05 up 19.2 percent from 1Q04 and an average monthly service revenue per customer of $49.03. Operating margin was 20.8 percent. Some content-related high;ights:
– 17.8 million data customers in 1Q05, up 53 percent year over year.
– Customers sent 3.6 billion text messages, 41.4 million picture messages and 34.1 million downloads of Get It Now’s more than 500 games, exclusive content and other applications.
– Verizon says sales of broadband 3G services to business and consumers “are exceeding company expectations.”
On the wireline side, Verizon claimed its best-ever quarter for DSL growth — 385,000 net new broadband connections, including FiOS and DSL, and 3.9 million total broadband connections. Data revenues were up 11.6 percent.

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