iPhone Strength Evident in Verizon Q2 Earnings
On Thursday, Verizon reported earnings for the second fiscal quarter of 2012 and Apple's iPhone took center stage in the details revealed.
Approximately half of all smartphone-owning Verizon subscribers now own an iPhone. A huge boost in Verizon iPhone ownership came in the second quarter of 2012 on the back of 2.7 million new iPhone sales. Verizon's Chief Financial Officer Fran Shammo said Verizon sold 2.9 million Android-powered smartphones in Q2, of which most were 4G LTE handsets.
Perhaps more interesting than sales data, however, was the hint by Shammo that a new iPhone is coming in the fourth quarter of this year. On today's earnings call, he expressly stated that he believes the 6th generation iPhone will arrive at a time consistent with the October projections we've been hearing so much about.
And Verizon, undoubtedly, will continue to see financial gains related to the iPhone, especially as the next-gen device turns up.
“Verizon Wireless has once again demonstrated its industry leadership, combining strong revenue growth with record margins and high customer loyalty,” Lowell McAdam, Verizon’s chief executive, said as Verizon reported earnings today. "Verizon delivered another strong quarter of earnings growth and cash generation, and we remain on track to meet our financial objectives and produce solid double-digit earnings growth for the year."
To read a full earnings summary directly from Verizon, click here