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Verizon posts its Q1 results

Yesterday, AT&T had its say by announcing its Q1 2010 results, so it is only fitting today is Verizon’s turn. Unfortunately for Big Red, it didn’t fare as well as Ma Bell. Over the past three months, 423,000 new post-paid customers put ink to a contract. Overall, Verizon gained 1.5 million net customers to bring its overall total to 92.8 million. Postpaid churn matched AT&T’s 1.07%, while the overall rate was 1.4%. ARPU overall remained unchanged from Q1 2009 at $50.95 thanks in part to a 19.6% gain in data ARPU to $17.06 which helped offset the lower ARPU for traditional voice services. Revenue as a whole was up 4.4% to $15.8 billion. Service revenues were only slightly up, but once again, retail data proved to be a proficient money-maker increasing 25.6% to $4.5 billion.