14 DAY TRIAL // Mobile phone carrier Verizon has just announced its financial results for the third quarter of the ongoing year, and posted strong revenue for the time frame.
The wireless carrier announced a number of 1.3 million total new connections for the third quarter of the ongoing year, 882,000 of which were retail postpaid customers, and 367,000 wholesale and other connections.
At the end of the quarter, the wireless carrier had a number of 107.7 million total connections, which mark an increase of about 6.5 percent year over year.
The carrier announced that it ended the three months period with a number of 90.7 million retail customers and 17.0 million wholesale and other connections.
The carrier also announced that smartphones accounted for 39 percent of the Verizon Wireless retail postpaid customer phone base, up from the second quarter of the year.
“Verizon Wireless delivered impressive results across the board in the third quarter, and we are geared up for an even better fourth quarter, with new smartphones, tablets and data devices coming to market,” said Lowell McAdam, Verizon president and chief executive officer.
The company continued to bring its 4G network to more markets around the United States, now offering LTE connectivity in a number of 165 cities.
It also announced the availability of five new 4G LTE devices during the time frame, including the DROID BIONIC by Motorola, Pantech Breakout, Samsung Galaxy Tab 10.1 tablet, Compaq Mini CQ10-688nr netbook and HP Pavilion dm 1-3010nr notebook.
Postpaid churn was 0.94 percent during the three-months period, marking an improvement of 13 basis points when compared to the same quarter a year ago.
“Service revenues in third-quarter 2011 totaled $15.0 billion, up 6.1 percent year over year. Data revenues were $6.1 billion, up more than $1.0 billion or 20.5 percent year over year, and represent 40.6 percent of all service revenues. Total revenues were $17.7 billion, up 9.1 percent year over year,” the carrier announced.