Latest iPhone pushes up subscriber growth, sales, profits for Verizon

04/19/2012 | CNET · Bloomberg · All Things D

Although sales of the iPhone 4S by Verizon Wireless were likely down in the first quarter compared with the fourth quarter of last year, the Apple smartphone helped Verizon Communications increase net income by nearly 20% to $3.91 billion in the first quarter, on operating revenue of $28.2 billion, which was up 4.6% from a year earlier. Verizon Wireless added 501,000 subscribers who signed two-year contracts in the period, higher than the average estimate of eight analysts compiled by Bloomberg. "Margins improved as the iPhone sales tailed off," said Joe Bonner, an analyst at Argus Research.

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CNET · Bloomberg · All Things D

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