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Verizon adds almost 1 million subscribers and 3.9 million iPhones during Q2 of 2013

Verizon rakes in $5.8 billion in profits, adds 1 million new subscribers, and activates 7.5 million new phones all during Q2 of 2013

| Business, Financial & Legal News | Posted: Jul 18, 2013 3:02 pm

This morning, Verizon released its financial report for the second quarter of 2013 and appears that the company is continuing its unprecedented growth. The company is reporting that it added 941,000 subscribers between the months of March and June and activated more than 3.9 million iPhones. This brings the company up to a total of 94.3 million wireless subscribers.

 

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Verizon managed to rake in $5.2 billion in profit amidst $29.8 billion in total revenue. Compared to the same time period last year Verizon is up more than 4.3 percent in revenue and over 16 percent in profits. The company says that 64 percent of its users are now on smartphones which is up 3 percent from last year, and the company managed to activate 7.5 million smartphones of which 6.4 million were LTE devices.

 

The Verge is reporting that during the financial earnings call to investors, Verizon CFO Fran Shammo confirmed the company's plans to launch a new financing program called Edge. Unfortunately, that is where the details ended, but we can expect Edge to be a clone of T-Mobile's "Jump" program and AT&T's "Next" initiative.

NEWS SOURCESTheverge.com, Theverge.com

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