Verizon reports increased profit on strong subscriber growth for Q1

Verizon has released the details of their Q1 earnings report for 2013, and times are good at Big Red. Adding an additional 667,000 subscribers, the carrier is reporting a growth of 15.3 percent in earning per share. The figure rose from 59 cents per share last year to 68 cents for Q1. Subscriber growth is up 35 percent year over year and total operating revenues for the first quarter came to $29.4 billion, a 4.2 percent increase.

Verizon also took the opportunity to provide a quick update on 4G LTE deployment. The next-gen wireless standard is now available in 491 markets in the US with a reach of about 287 million people.

[via Verizon]

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TAGS: earnings

  • eli

    my grandpa always said “theres a sucker born every minute”

  • Go Hawkeyes

    What, Verizon didn’t take the opportunity to say how much people love overpaying for ridiculously small data tiers?

  • moises1204

    yea because they keep on buying out small carriers all around the country, but there is a lot of stupid people out there.

  • Hrethgir

    Bet that number drops hard in about a year when everyone who pre-ordered a GS3 to keep unlimited data comes up to the end of that contract. I’d be ok paying full price for the phone to keep unlimited, but ONLY if the monthly was lower since the cost of the phone isn’t being subsidized. But for some reason, that isn’t the case, and T-Mobile is starting to look pretty good….

    • Go Hawkeyes

      When you factor in the cost of data when you lose your unlimited the monthly is significantly lower than going to tiered data to get a phone subsidy. I’ll gladly pay full price for devices than triple by monthly bill. With 4 unlimited plans each using 5-10GB a month I’d be murdered with a tiered plan bill.

      • Tim242

        If you buy four phones full price, you will be hurting

        • Go Hawkeyes

          No, I’m a baller. I can afford it. And in the long run it’s still cheaper than paying for all that data in tiers.

    • Jay Holm

      I feel the same way, I’ve been with Vzn just over 3yrs, I have a Droid Charge, and would like to enjoy the benefits of of quad-core processors, 2GB’s of RAM, and all of the enhancements of Jelley Bean, I don’t have the outrageous $600+++ in cash laying around, and don’t like Verizon’s idea of a device payment plan, and their stupid $2/mo financing charge, their a wireless carrier not a bank!!! T-Mobile no finance charge.

      Wednesday the 24th I will be getting the beastly Galaxy S4 from T-Mobile who doesn’t punish people who don’t have $600+++ in cash and want to be able to ACTUALLY use their smartphone with truly Unlimited Data!!!!!

      I live in Connecticut, and have gotten good testimonies from T-Mobile’s customers.

  • Jeff Jansen

    Probably because they have the best coverage, great customer service, and low prices, and plenty of really smart people who will take advantage of their great service. :)

    • bryanl

      Verizon has a lot of things. Low prices is definitely not one of them. But I’m sure you are just joking.

      • guitarist5122

        Their family plans are actually very competitively priced. I’m saving a few bucks a month over my old T-Mobile plan.

        • Darin Kolls

          Verizon is all about the new customers and not taking care of existing customers. I’m paying more per month that I was with my unlimited data plan.

      • Jeff Jansen

        Guilty, just thought I’d match the negative ignorant comments with a positive ignorant comment :) However, for my particular situation, Verizon DOES have the lowest prices by a wide margin. But considering what I hear from others, I acknowledge that my case must be rare.

    • Tim242

      Low prices? /s I hope

  • Matt Laney

    This is the only carrier I can get good service with in my area. Glad to see I’m making them rich.

  • guitarist5122

    I bet the new more affordable family plans are to thank. I know me and my wife would have never gone to Verizon this last December if it wasn’t for their restructured family plans. We are saving a few bucks over our old T-Mobile family plan and we gained better coverage and faster Internet service. And for the people who like to fuss about data limits, we typically only use 2-3 Gb of data a month combined. And that’s with not restricting our usage when away from our home wifi network.

    • Darin Kolls

      Or those of us who lost our unlimited data are now paying more and getting less data per month.

      • guitarist5122

        I suppose. But you probably use a lot more data then my wife and I do.

    • Tim242

      I hope Verizon pays you well.

      • guitarist5122

        Lol, i wish. That would be awesome if a company would pay you for positive comments made about them.

  • slogoodland

    How about a little profit sharing?