Verizon Wireless revenues continue to grow as smartphones reach 50 percent penetration
Verizon has just released a rundown of their earnings report for the second quarter of 2012, and things are looking pretty peachy for the wireless giant. Service revenues grew 7.3 percent to reach $15.8 billion, spurred along by the increasing use of smartphones on the network, which now account for 50 percent of all postpaid devices on Verizon. $6.9 billion, or 43.6 percent, of those revenues came from data sales. The figure represents a growth of $1.1 billion in data revenues year-over-year.
Overall, Verizon netted 1.2 million additional customers in the quarter (880,000 postpaid), bringing their total retail customer base to 94.2 million, representing a 4.9 percent increase from the same time last year. The report also highlights recent LTE rollouts bringing 4G coverage to a total of 230 million people in 337 markets across the US as well as the launch of new Share Everything data plans. Both initiatives look to bolster Verizon’s strong growth into the next quarter and beyond
[Verizon]