Verizon rakes in $30 billion and another 1 million subscribers in Q3 2013
If you listened to most of the mobile tech enthusiasts out there, you’d think Verizon was experiencing a mass exodus after the changes and decisions they make every month. That isn’t the case, though — Verizon is doing just fine. In fact, they’re doing more than fine. Verizon is kicking butt and taking names, apparently, and the trend hasn’t slowed down in Q3 2013.
The rich get richer
The company has announced their earnings report for the quarter, with the three biggest highlights being revenue, profit and net additions. In that order, Verizon brought in a total of $30.3 billion, $7.1 billion in profit, and 1.1 million net customer additions.
Revenue was 4.4% more than it was in Q3 2012 — while not a huge improvement when it comes to percentage, a 4.4% increase on billions of dollars is a ton. Profits were even more staggering, though, with the wireless company enjoying a 30% increase in that area compared to the same quarter last year.
And Verizon isn’t sitting by doing nothing with all that money they’re earning. If you don’t remember, the company recently bought out Vodafone’s stake in their company, giving them even more independence than they’ve enjoyed in the past.
Verizon has also spent that money to roll out the rest of their LTE network. With the base network almost complete, the company will soon begin overhauling and upgrading. One of the upgrades we know they’re working on is delivering data over their new AWS spectrum. Early speed tests show Verizon being able to deliver up to 80 megabits per second, though that’s without congestion and other factors.
Post-paid dominance
The aforementioned addition of 1.1 million subscribers brings the company up to 101.2 million, with 95 million of those folks being post-paid customers. That’s a staggering fill rate, and it shows Verizon’s reputation for good service counts for more good than their actions in terms of device launches, plan changes and more count for bad.
While Verizon is miles ahead most of the competition in terms of subscribers, they still have to keep looking over their shoulders at AT&T, who have also been quite the attractive carrier as of late. We don’t yet have a clue what their Q3 2013 looked like, but we assume they’re making great strides of their own if it was anything like the previous few quarters.
With strong marketing, an even stronger retail presence, and the type of both market share and mind share that any company would die for in their respective industries, it will take a lot for anyone to topple the Big Red beast otherwise known as Verizon Wireless.