From CNET News.com: Verizon managed to keep the customer growth flowing in the third quarter despite increased pressure from the likes of T-Mobile.
The New York telecommunications giant reported net income attributable to Verizon (which excludes the stake in Verizon Wireless that partner Vodafone owns) of $2.23 billion, or 78 cents a share. In the year-earlier period, it posted a profit of $1.59 billion, or 56 cents a share. Excluding one-time items, Verizon's adjusted earnings were 77 cents a share.
Revenue rose 4.4 percent to $30.28 billion.
Analysts, on average, expected Verizon to post earnings of 74 cents a share and revenue of $30.16 billion.
Verizon Wireless added 1.1 million net retail connections, including 927,000 net retail post-paid customers, or subscribers who signed a long-term wireless contract. It ended the period with 101.2 million retail connections, which include any account with a wireless subscription, whether that's a connected machine or tablet, and 95.2 million retail post-paid connections. While the number likely stacks up well with the competition, it also represents a 39.6 percent decline from a year ago.
Verizon activated 7.6 million smartphones in the period, with 29 percent new to the carrier. In total, Verizon activated 10.2 million devices in the period. Chief Financial Officer Fran Shammo said that 51 percent, or roughly 3.9 million units, were made up of iPhones. That's flat from the second quarter but up from the 3.1 million iPhones sold a year ago.
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