Verizon has released its Q3 earnings… it “posted net income of $1.92 billion, or 66 cents a share, compared with $1.87 billion, or 67 cents, earned in the year-ago third quarter. Revenue rose 26% to $23.25 billion from $18.49 billion, boosted by wireless growth and a contribution from long-distance carrier MCI, which Verizon acquired in January. Adjusted for the MCI deal, sales rose a lesser 3.6% on a pro forma basis.”
Verizon Wireless added 1.9 million customers to 56.7 million wireless customers, while the local landline business lost customers. “Wireless sales jumped 18.2% to $9.9 billion from a year earlier and accounted for 42.5% of the company’s revenue, up from 41% in the prior quarter.” This puts it higher than Cingular in revenue ($9.6 billion) even though it has fewer customers.
Other wireless highlights include:
–Total service ARPU and retail service ARPU up year-over-year and up from second quarter 2006; retail service ARPU of $51.21
–Data revenues nearly double year-over-year to 14.1 percent of total wireless service revenues.
The press release is here.
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