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  • Verizon Announces Earnings, 2.2 Million iPhone Activations

    The iPhone has been good to Verizon, the largest mobile operator in the US - at least until AT&T is allowed to purchase T-Mobile. On Thursday, the mobile giant "beat the street" by announcing that it more than tripled net income in the first quarter.

    Verizon said that Q1 profits were $1.44 billion (51 cents a share) compared to $443 million (16 cents a share) in Q1 2010. As expected, a certain Apple product helped drive that record profit. Verizon activated some 2.2 million iPhones, even though the iPhone 4 was available for less than one-third of the quarter for which earnings were reported.

    On a consolidated basis, Verizon's total operating revenues were $27.0 billion in first-quarter 2011, an increase of 0.3 percent compared with first-quarter 2010, the company said.

    Verizon, however, totally eviscerated AT&T in another category of new subscribers. Verizon Wireless picked 906,000 new subscribers. AT&T, on the other hand, picked up 62,000. Verizon now enjoys better than 104 million total connections.

    "In the first quarter, Verizon Wireless solidified its industry leadership with results that once again showed sustainable, profitable growth," said Verizon Chairman and CEO Ivan Seidenberg. "We are executing on our business plans and building momentum, and we are on track to meet both our revenue and earnings objectives for the year."

    Source: Verizon
    This article was originally published in forum thread: Verizon Announces Earnings, 2.2 Million iPhone Activations started by Michael Essany View original post
    Comments 9 Comments
    1. Paco's Avatar
      Paco -
      no surprise IMO
    1. Stray's Avatar
      Stray -
    1. delusion950's Avatar
      delusion950 -
      Wow not bad
    1. iliveudie's Avatar
      iliveudie -
      So who made more?
    1. coolguy742's Avatar
      coolguy742 -
      Quote Originally Posted by iliveudie View Post
      So who made more?
      AT&T, this was covered in an earlier story
    1. iliveudie's Avatar
      iliveudie -
      Quote Originally Posted by coolguy742 View Post
      AT&T, this was covered in an earlier story
      I read the AT&T post. MMi never reported AT&Ts earning. Just that they activated 3.6m iPhones and have 97.5m subscribers. No amount though.
    1. steve-z17's Avatar
      steve-z17 -
      Apple helping out Verizon
    1. sziklassy's Avatar
      sziklassy -
      If Verizon allows any overseas sim card to be used, then this is technically a better deal that ATT's as ATT's units would still need to be unlocked. Anyone know how Verizon's current world phones work (will they allow for use of any overseas sim card)?
    1. piston597's Avatar
      piston597 -
      AT&T made more... but this goes to show Verizon got this far ONLY because of the iPhone... What all the Androids did was nothing compared to the iPhone.. shows the amount of influence it has... Not a fanboy here... just pointing out the obvious