Verizon (NYSE:VZ) has reported its first quarter earnings for the three months ending March 31st. Revenue for the group increased 6.4 percent year-on-year to $22.6 billion, operating income increased 19.6 percent over the same period to $3.8 billion. Earnings was $1.5 billion.
Verizon Wireless reported revenues of $10.3 billion, up 17 percent year-on-year. The income for the segment was $874 million, up 38.5 percent year-on-year. The cellco added 1.7 million customers in the quarter (mostly postpaid) to bring the total to 60.7 million — monthly ARPU was $50.73, up 2.8 percent year-on-year.
Mobile data revenues climbed 80 percent year on year to $1.6 billion, or 17.4 percent of total service revenues. Retail data ARPU increased 54 percent year-on-year to $8.95, and Verizon Wireless reports 36 million retail data customers in March, an increase of 37.5 percent year-on-year.
During the quarter Verizon Wireless users sent or received nearly 22.3 billion SMS and 450 million MMS. Customers also downloaded 106 million items of music, videos, games, ringtones, ringback tones and exclusive content.
From the conference call, 39 percent of wireless data came from business applications such as internet access and e-mail.
Earnings Release | Income Statement (PDF) | Earnings Call Presentation, Transcript PDF
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