14 DAY TRIAL // Today, mobile phone carrier Verizon Wireless announced its financial results for the first quarter of the ongoing year, and announced that it managed to add a number of 1.8 million total connections, 906,000 of which were retail postpaid connections, while were 897,000 wholesale and other connections.
During the conference call it set up for announcing the financial results, the carrier confirmed a number of 2.2 million iPhone 4 devices sold in the time frame.
Verizon posted total operating revenues were $27.0 billion in first-quarter 2011, up 0.3 percent when compared to the first quarter of the last year. The company increased non-GAAP operating revenues by 5.3 percent year on year, and market a growth of 2.3 percent from the previous quarter.
“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.”
The wireless business ended the first quarter of the year with 104.0 million total connections (88.4 million retail customers and 15.6 million wholesale connections), a growth of 6.1 percent year over year.
The wireless carrier also announced that, at the end of the three-month period, 32 percent of its customers had smartphones, up from 28 percent the quarter before.
“Following the launch of its 4G LTE mobile broadband network in 38 markets in December 2010, the company so far has named more than 100 additional markets where 4G LTE is being rolled out,” the carrier noted.
“By year-end, Verizon Wireless’ 4G LTE network, the fastest and most advanced 4G LTE network in the U.S., is expected to be available in more than 175 markets, covering a population of more than 185 million people throughout the country.”
Verizon already launched a number of no less than three 4G LTE devices, including the ThunderBolt by HTC, the Verizon USB551L modem from Novatel Wireless; and the Samsung 4G LTE Mobile Hotspot.
Demand for LTE devices was strong, and the same applies to the Apple iPhone 4, the company announced. This does not come too much as a surprise, since they were both new to carrier's offering.