Verizon Communications Inc. (VZ) Adds 941,000 Subscribers and 3.9 Million iPhones In Q2

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Verizon Communications Inc. (NYSE:VZ) has released their financial report for Q2 2013.  Verizon added around 941,000 subscribers between March and June.  The company hit around $5.2 billion in profits on $29.8 billion in revenues.  Vodafone has a 45% controlling stake in Verizon and when splitting the profits, Verizon earned $2.2 billion on their own.  Verizon Wireless hit around $20 billion in revenues on it’s own.  Compared to the same quarter last year, Verizon’s total business is up 4.3% in revenues and 16% in profits.

By adding 941,000 new postpaid subscribers, Verizon’s total postpaid user base is now up to 94.3 million.  Verizon has a total of 100.1 million, which is an increase of 6.6% year-over-year.

Smartphones/iPhones: Verizon activated 7.5 million smartphones and 6.4 million LTE devices this quarter.  Over 51% of the activated smartphones (3.9 million) were iPhones.

4G: Verizon saw a complete initial rollout of 4G LTE service, which started in December 2010.  Verizon LTE is now in all 50 states.  It covers over 500 markets and 95% of the U.S. population.

Edge: Verizon chief financial officer Fran Shammo said that the company is going to launch a new financing program called Edge soon.  Edge is Verizon’s response to AT&T Next and T-Mobile Jump.

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