Skip to main content

Verizon in Q3: $30 billion of revenue and another million users

Verizon in Q3: $30 billion of revenue and another million users


4G network deployment nears completion with 303 million Americans covered

Share this story

Fresh off agreeing on a multibillion-dollar deal to reacquire Vodafone's large chunk of Verizon Wireless, America's biggest carrier reports its latest quarterly figures today. There are few surprises to be found: Verizon has added a net 1.1 million subscribers to its wireless services, extending its user base to 101.2 million total connections, 95.2 million of them being postpaid. The consolidated revenue for Verizon over the past three months was $30.3 billion, 4.4 percent higher than it was in the same period last year.

4G coverage has now been expanded to "over 99 percent" of Verizon's 3G network, which essentially means that if you can get a Verizon signal, you should be able to get on its LTE network. The company claims that, together with its rural network partners, it now has 303 million Americans covered.

Verizon's wireless business contributed two thirds of its income and much of its growth in the third quarter — $20.4 billion, 7.2 percent higher than the previous year — which marks its paramount importance to the company's fortunes. As CEO Lowell McAdam states in the press release, Verizon's "unwavering focus on wireless, FiOS and strategic enterprise services has produced consistent performance, and we’ve delivered double-digit earnings growth in six of the past seven quarters."