14 DAY TRIAL // Mobile phone carrier Verizon Wireless recently announced its financial results for the first quarter of the ongoing year, and posted an increase of 4.4 percent in total revenues when compared to the same time frame a year ago. At the same time, the operator announced that it managed to add 1.5 million total new customers in the three months period, and that it ended the quarter with a user base of 92.8 million total customers, up 7.2 percent from 1Q 2009.
“Our first-quarter results were in line with our expectations, with solid growth in all strategic areas,” said Chairman and CEO Ivan Seidenberg. “Customer demand for broadband, such as a growing demand for wireless data, has improved revenue trends, and we are beginning to see signs of economic recovery, particularly in business markets.”
Verizon registered total operating revenues of $26.9 billion in Q1 2010, marking an increase of 1.2 percent over the same period a year ago. Verizon Wireless added 423,000 retail postpaid and 284,000 total retail customers in the time frame, and ended the quarter with 87.8 million retail customers. Retail postpaid churn, retail churn and total customer churn was of 1.07 percent, 1.46 percent and 1.40 percent, respectively.
Other highlights from the carrier's announcement include: - Retail service revenues in the quarter totaled $13.4 billion, up 5.0 percent year over year. Retail data revenue was up 25.6 percent to $4.5 billion. Service revenues in the first quarter were $13.8 billion, up 5.9 percent. Total revenues were $15.8 billion, up 4.4 percent year over year. - Retail service ARPU (average monthly service revenue per user) remained the same year over year at $50.95. Retail data ARPU increased to $17.06, up 19.6 percent year over year. - Verizon Wireless continued to invest in its broadband network, the nation’s largest and most reliable 3G (third generation) network. Verizon’s 3G network provides more coverage than any other U.S. carrier and is available to more than 285 million people.
During the first quarter of the year, Verizon launched exclusive premium services for its users, including Skype Mobile, which offers unlimited Skype-to-Skype calls around the world, NFL Mobile, with access to teams, players, games and broadcasts of America’s number one sport, or Push to Talk service for the BlackBerry Tour 9630. In addition, the company launched a series of new devices in the time frame, including Motorola DEVOUR, Palm Pre Plus and Palm Pixi Plus, the Casio G’zOne Brigade, and other.