Verizon Announces Third Quarter 2012 Financial Numbers

Verizon’s third quarter 2012 numbers are looking pretty good as the carrier reports an additional 1.5 million postpaid connections, its highest number in four years. Verizon now services 95.9 million total retail connections, 90.4 million of those are postpaid. Smartphone sales rose to 6.8 million for the quarter, accounting for 79% of total postpaid phone sales during the quarter. With 53 percent of the carriers user base now utilizing smartphones, Verizon sold 4.5 million LTE devices last quarter, up from 3.2 million previously. Verizon now boasts that 35% of all data traffic is on their LTE network, currently serving 250 million people in over 419 markets nationwide.

Total service revenues for the quarter were $16.2 billion, up 7.5% from last year. With Verizon adding 1.2 million and 734,000 in the last two quarters, the uptick is due partly to the release of the iPhone 5, of which Verizon activated 316,000 in ten days and the first Apple iPhone to run on Verizon’s LTE network.

Verizon’s total churn rate (the number of customers not renewing their contracts) rose slightly to 0.91%, a slight uptick from the previous quarter, but down from 0.94% last year. Verizon’s total smartphone sales were boosted by 3.4 million Android smartphones and 3.1 million iPhone sales.

For full financial breakdown, hit the press release below.


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