Verizon added 677,000 subscribers, made a $4.8 billion profit in Q1 2013

Last quarter, Verizon was able to add a record high 2.1 million subscribers, but at the cost of a $1.93 billion net loss. Now that the company is releasing its Q1 2013 figures, are we going to see some of those losses trimmed back? The latest jumble of spreadsheets reveals that Big V turned a profit of $4.8 billion whilst adding 677,000 new subscribers to its wireless service -- giving it a total customer base of 98.9 million users. In the quarter, Verizon activated 7.2 million smartphones, of which 5.9 million were LTE-ready devices. It added that 28 percent of those activations were to customers who had defected from other carriers.

On the wireline side of things, the company gained 188,000 FiOS Internet and 169,000 FiOS video customers, pushing that business' revenue up to $2.6 billion -- 69 percent of the company's consumer revenue. Customers who are hoping that they can trade up from DSL to FiOS should also take heart that the company has switched over 83,000 homes to fiber this year, and plans to do the same to a further 217,000 before the end of 2013.

Developing...

Filed under: Mobile, Verizon

Comments