Earnings: Verizon Wireless Supports Verizon (And Vodafone); Data Revs At $1 Billion

Verizon Wireless’s Q2 revenues rose 18 percent to $9.3 billion, and is seen as a major driver for the Verizon group beating analyst expectations (“Excluding special items, Verizon said it earned $1.87 billion, or 64 cents a share, in the second quarter, up from $1.77 billion, or 63 cents per share, a year earlier. Analysts were expecting 62 cents a share”). Verizon also found churn fell to “a record-low 1.13 percent. Churn among retail post-paid customers was a record-low 0.87 percent”.
However, Verizon appears to have given up on getting Vodafone’s 45% stake in Verizon Wireless any time soon. “The issue has been resolved for “the next few years, unless there is a change in Vodafone’s thinking,” Verizon Chief Executive Ivan Seidenberg told analysts on a conference call.”
Total revenue from high-speed Internet and other data services grew to $1.1 billion, up 8% from the year ago period…this is not just mobile content (which is a very small part of this), but includes enterprise data and high-speed data as well.
But as <a href="http://www.redherring.com/Article.aspx?a=17790&hed=Verizon+Wireless+Data+Tops+%241B