14 DAY TRIAL // Mobile phone carrier Verizon Wireless has announced today its financial results for the third quarter of the ongoing year and has posted a 24.4 percent increase in total revenues when compared to the same quarter a year ago. At the same time, the operator has also announced that its wireless customer base has seen an increase of 25.7 percent year on year, totaling 89.0 million customers.
Other highlights from the company's announcement include reaching a total of 86.3 million retail customers, an increase of 25.4 percent, and a number of 1.2 million net customer additions for the quarter, without including here acquisitions and adjustments. The postpaid churn in the time frame was of 1.13 percent, while the carrier's data revenues went up by 48.1 percent.
“Verizon continues to generate strong cash flow, which we have used in building the foundation for sustainable, long-term shareowner value,” said Verizon Chairman and CEO Ivan Seidenberg. “Even through the worst of the recession, we have continued to raise our dividend and to add new customers, expand markets and grow revenues based on the power and innovation of Verizon’s wireless, broadband and global networks.”
The carrier also announced $15.8 billion in revenues for the three-month period, marking an increase of 24.4 percent over the same quarter a year ago, and up 4.9 percent on a pro forma basis. The company's service revenues were of $13.5 billion, rising 23.7 percent from the same quarter a year ago, and up 6.1 percent on a pro forma basis. The total service ARPU (average monthly service revenue per user) went down 2.2 percent on a yearly basis, to $51.04.
The company has announced that wireless operating income margin was 28.3 percent, which marks a growth of 1.0 percentage points compared to the third quarter of the last year, and up 1.4 percentage points on a pro forma basis. EBITDA (earnings before interest, taxes, depreciation and amortization) margin on service revenues (non-GAAP) was of 46.1 percent, the carrier has stated, up 1.9 percentage points year over year and up 1.3 percentage points pro forma.
“The Verizon network is now an engine for next-generation communications services that will create new short- and long-term opportunities for us. As the U.S. economic and employment picture improves, and as we accelerate reductions in our own cost structure, we are well-positioned to quickly and significantly improve our growth profile,” Ivan Seidenberg added.