Verizon's vitals: quarterly revenue up five percent to $28 billion, earnings of $1.7 billion

Verizon is rembering how to turn to subscribers into cash, reporting consolidated revenues up 4.6 percent year-over-year to $28 billion and earnings of $1.7 billion -- boosting earnings-per-share by 15 percent. By comparison, revenues were $27 billion in Q1 2011, and a mere $18 billion last quarter, which resulted in a $2 billion net loss. Big Red's performance is now as strong as ever, with subscriber numbers up five percent to 93 million, and with 47 percent of those customers using insanely profitable devices called smartphones. And that new $30 upgrade fee hasn't even kicked in yet.

Continue reading Verizon's vitals: quarterly revenue up five percent to $28 billion, earnings of $1.7 billion

Verizon's vitals: quarterly revenue up five percent to $28 billion, earnings of $1.7 billion originally appeared on Engadget on Thu, 19 Apr 2012 07:33:00 EDT. Please see our terms for use of feeds.