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.