Verizon Wireless Q2, data revenue up 23.8%, 92.1 million customers

Verizon Communications, Inc. has just announced their Q2 earnings, and included in the massive statement is the results for Verizon Wireless (a venture owned by both Verizon Communications and Vodafone). What did Q2 look like for Big Red? Well, Verizon Wireless posted revenues of $16 billion (up 3.4% YoY), had an operating margin of 30.3% (up 2.5% from the previous quarter), and saw its churn rate drop slightly; down to 1.27%. The company added 1.4 million net customers (665,000 of which were postpaid), and now has a portfolio containing over 92.1 million customers coast-to-coast. We’ve got the full press release all linked up for you.

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Tags: 2010, Earnings, Q2, Q2 2010, Verizon, Verizon Communications

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vzwrep

Yay us

Big Jimmy

Yes, you guys really did a bang up job….you only LOST $198,000,000 in earnings in Q2. I smell more layoffs coming, 25,000 people canned over the last year alone. Brush up your resume.

skyy_flyer

Verizon Wireless is not Verizon Landline.
Kevin H.

Thats not thinking with your dipstick Jimmy!!!!!

eddie b

Makes att look like poo

PrezBO

AT&T does a good enough job making AT&T look like poo on their own.
Arttie Johansson

Verizon’s financial results suck compared to AT&T. What do you except from a company who nicknamed themselves after manmeat….Big Red?

Mr.Add

You need to realize that AT&T was originally started as a land line company. They have a larger portfolio of operations in multiple countries, with services involving long distance, oceanic fiber optic operation, as well as phone operations. Verizon is still a relatively new company and only operates a national wireless network as well as a small telephone company. To my knowledge Verizon does not posses one of those business stated above.

Bard

You have to wonder, just HOW many subscribers they would add if they ever get the iPhone. I’m guessing it’d boost them past 100 million.

bobudo

I, for one, like that Android phones have a strong* carrier to shine on.

*That is not a dis on sprint, I’m just saying, if the iPhone were on both the #1 and #2 carrier, Android would have a significantly harder time competing.

Dream

Good Job, But they need to step up the pace I heard ATT has about 90 million now.

Andrew Munchbach

AT&T has 90.1 million customers according to their Q2 filing yesterday.

Dream

Wow, Then there pretty much damn even they need to get these supply contraints under control because that is whats hurting them the most IMO.
JustMe

Actually AT&T has approximately 85 to 86 Million cellphone subscribers. They have a total of 90.1 million total wireless subscribers, which also includes devices such as IPad 3G, Ebook readers such as Amazon’s Kindle and Barnes & Nobles’ Nook, both of which use AT&T service, etc.

At this time, VZW does not include any non cellphone subscribers in its totals.
BigBoy

They say 90.1 because it’s 90.1 do you think Verizon is any different? It’s actually good for the industry that the numbers are being given with more granular breakdown.

Data is more profitable than voice.
T

So which is it then? Good for the industry to give the numbers with a more granular breakdown like Verizon has done with different numbers, or at a high-level of just total devices like AT&T?

You seem awfully confused…
JustMe

T, you are so correct. Showing the big numbers makes the overall effect look more than it is. In actuality VZW has over 99 million overall connected devices on our network, as I found out later today.

Since AT&T is currently #2, and trying to show that it appears they are gaining ground, then the bigger number makes them look “bigger.”

I suspect, however, that those additional connected devices is what’s contributing to their overall network performance. Makes you stop and say…hhhmmmmm!!!

Eric C

With revenues like that I highly doubt Vodafone will be selling their part of the Verizon Wireless venture back to Verizon any time soon. I’m a T-Mobile customer but I have to give credit where its due. Great job VZW.
Dream

The Iphone is Really a customer grabber

Ion

In soviet russia, customer grab iphone.

Lowell McAdams

Verizon Wireless has 99.7 million customers if you include “connected devices” while AT&T has 90.1 million including those devices.

Lowell McAdam

My name doesn’t have an ‘S’ at the end.
Billy Gekko

Actually, AT&T has 103.7 million including all connected devices. And higher average revenue per device.

http://www.verizonwireless.com VZW

No they don’t. The already include those in with their customer base.

MustWarnOthers

All that revenue, and they still need to nickel and dime customers with the tiered data bullshit.

Wonderful.
Mr. Incredible

Well the tiered data plans haven’t been confirmed yet, sooooo we don’t know for sure that the will for sure do it. But at&t has already made the step to the tiered data plans so most likely verizon will follow suit and vice versa.
Mr. Incredible

Well the tiered data plans haven’t been confirmed yet, sooooo we don’t know for sure that the will for sure do it. But at&t has already made the step to the tiered data plans so most likely verizon will follow suit and vice versa.
Lowell McAdams

His might not, But mine does!
Sonya

Your welcome for the money, you get what you pay for though. My co workers on AT&T have to step outside to make phone calls and I don’t, but again it all depends on where you live and work.

Felix

And I have to step outside to make a call on Verizon and my co-workers on AT&T dont.

Sonya

And that’s actually why I said it all depends on where you live.
Tony

It’s an article about Verizon, there was no need to bring up AT&T.
Duck

I am having the same experience with my service. It drives me crazy.

Apollo

Yes Verizon is perfect.

webby

Verizon has stepped up its game due to its now obviously very wise decision to embrace the Android platform.

I was in a Verizon corporate store on 7/21, 6 days after release of the Droid X, and he told me the company had already sold over 500,000 Droid X phones. No wonder they’re back-ordered. I wonder how many HTC Incredible phones (also back-ordered) they have moved out the door?

Perspective

They haven’t sold 500K Droid X units. . .that would mean a sell-through rate higher than the original Droid (1 million units in 74 days), which is the best performing Verizon Android phone thus far (and the only one that didn’t have to compete with other Verizon Android phones at its launch).

I’d question whether Verizon had any “choice” but to embrace Android. They wanted, and want, the iPhone, but they can’t have it, and they knew RIM by itself wasn’t going to give their customers a compelling reason to stay. Luckily for everyone, Verizon not getting the iPhone has led to them doing things they never otherwise would’ve done.

But don’t kid yourself; it’s not like Verizon had the choice of iPhone or Android and picked Android. We all know better. There’s a reason we don’t hear “Droid to AT&T” rumors.

skyy_flyer

“They wanted, and want, the iPhone”… Yup, they wanted it so badly they turned it down when Apple approached them first… yup, great perspective.
Jayhammy

You also have to keep in mind that the whole “Droid” term has been licensed exclusively by Verizon from Lucasfilms, so there will be NO Droid to “anywhere” except Verizon. There may be handsets that are similar but with different names: e.g., the HTC Droid Incredible is known as the Desire throughout Europe and is coming to Canada. The Incredible name is used no place else.
Fredward

Yeah, because before the iPhone came out and now are the same thing. They turned them down in the beginning and now they are regretting it.
Anita

Yes, just like there vision for Get It Now.

Swagger

Fail
zephxiii

Wireless is where the money is at!
Jesus H Christ

All that without and Iphone. See kids Apple isn’t the be all end all.
Sal

Competition is good for the consumer. If there was no Verizon/Google to counter Att/Apple then we probably wouldn’t have all the options we have today.
Android

Good thing they will never get the iPhone. People would leave Verizon in droves to Sprint.
steve jobs

Verizon would have a commanding lead if they had the iphone. Don’t deny it fantards.

Btw. What are Sprint and Tmobiles numbers?
Topher86

High revenue is cool…I just wonder how much out of that is profit.

Android

They had Negative profit, to the tune of $200 Million US Dollars in dollars.

Mr.Add

That’s still a lot lower than last quarter when they lost over 600 Million. My number could be wrong but that’s what sticking in my head.
Doug

Man I don’t understand how some people never quite get this.

Verizon COMMUNICATIONS posted the loss. NOT Verizon WIRELESS. They are NOT the same company.

Verizon Communications is a partial owner of VZW, but their numbers are not the same. Verizon Communications could lose 5 billion dollars and VZW can still turn a nice profit.
brian

wrong wrong wrong. vz communications is vzw wireless now. they use to be apart but the head lines read verizon lost 200 million. Now The wireless as a department is doing well but they still lost a ass load of money. Att is one company Sprint is one company wireless and wireline. They just went through these painful mergers along time ago. Look at the corp list and you will see one company ceo coo cfo etc. And one reason they are losing money is because wireline is dropping and they are paying the piper for all that 4g spectrum and alltel merger. Now in the long run once they get in line all i can say is wow.
Azeron

Someone better break the news to Vodaphone then. Apparently their 45% stake in Verizon Wireless simply…evaporated.

PAPINYC

Does this include the 2 KIN sold??
Gee

Crooks!
Android

This story doesn’t mention the moderate $200 million loss for the quarter. And they didn’t add as many subscribers as ATT did the same quarter. Wonder what VZ can do to up their game? Reject the iPhone at all costs!

christ on a cracker, learn to read

That’s because Verizon Communications (not Wireless) posted the $200 million dollar loss. VZ is a *partial* owner of VZW (along with Vodaphone).

jfr

Its a shame Verizon doesn’t mention how many Droid phones it activated, so we could compare it to the 3.2 million iphone activations AT&T announced. My guess would be that if the numbers were very impressive, they would have gladly revealed this info.

brian

The only issue with that is that Att let everyone upgrade to a iphone if your contract was up this year. That was to lock you in. Because Verizon will have a iphone device by spring 2011.

skyy_flyer

Andrew, could you please explain to some people that Verizon Communications and Verizon Wireless are two seperate companies? Seems to be a common misconception.

brian

wrong wrong wrong. vz communications is vzw wireless now. they use to be apart but the head lines read verizon lost 200 million. Now The wireless as a department is doing well but they still lost a ass load of money. Att is one company Sprint is one company wireless and wireline. They just went through these painful mergers along time ago. Look at the corp list and you will see one company ceo coo cfo etc. And one reason they are losing money is because wireline is dropping and they are paying the piper for all that 4g spectrum and alltel merger. Now in the long run once they get in line all i can say is wow

JustMe

The shame is that both of you are right. Verizon Wireless is a subsidiary of the partnership between Verizon Communications and Vodaphone PLC.

While Verizon Wireless does operate as a standalone business, the company is an integral part of Verizon Communications, and their revenue does factor into the overall revenue of VZ Comm. Both companies have standalone management, both companies’ headquarters are in the same building.

Brian is wrong about one point. The Reason VZ Comm is losing so much money is because people are transitioning away from landline services and moving toward cellphone and VOIP services. If you check, both AT&T and Sprint are experiencing the same situations, as AT&T Landline is losing a boatload of money as well for the same reason.

As for the spectrum and the Alltel merger, those costs were factored into the revenues over two years ago when the initial purchases took place. If you recall the postings, VZ Wireless earned over 16 Billion in revenue and profits are up 23% in spite of the merger and the spectrum purchase.

Verizon Wireless Q2, data revenue up 23.8%, 92.1 million customers

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