Verizon clocks another solid quarter, sells 5.6M smartphones

Verizon Wireless turned in another strong quarter with total revenues up 9.1% to $17.7 billion. The carrier ended the quarter with 107.7 million total connections, marking a 6.5% year-over-year increase. It also banked $7.2 billion in net income, increasing 7.5% from the year-ago period.

Verizon Wireless added 1.3 million total connections in the third quarter, including 882,000 retail postpaid customers, and 367,000 wholesale and other connections. By contrast, AT&T added 2.1 million wireless subscribers during the same period, lead heavily by M2M and other connected devices.

The carrier sold around two million iPhone 4 devices during the quarter, which means Android powered well more than half of the 5.6 million smartphones Verizon sold overall.

Smartphones now account for 39% of the Verizon Wireless retail postpaid customer base. By contrast, more than half of AT&T’s postpaid customers are using smartphones, but Verizon outsold AT&T on smartphones during the quarter by around 800,000 units.

Verizon Wireless ended the quarter with 90.7 million retail customers and 17 million wholesale customers and others. Data revenues jumped 20.5% year-over-year to $6.1 billion, representing 40.6% of all service revenues. Postpaid subscriber ARPU grew 2.4% to $54.89.

The operator’s 4G LTE network was available in 165 markets covering a population of more than 186 million people at the end of the quarter. The company says it’s ahead of schedule with the network build-out and will exceed its 2011 target of covering a population of 185 million before year’s end.

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