iPhone and LTE star in Verizon's quarter
As 4G becomes increasingly important to the leading cellco, Sprint and Clearwire suffer from their transition period
Published: 25 January, 2012
READ MORE: Financial | US | Verizon Wireless | Clearwire | LTE
Continued ...
However, the wireless business recorded record growth, with sales up 13% year-on-year to $18.25bn, but operating income fell by 10.7% year-on-year to $4.3bn. Capex fell by 20% to $1.78bn in Q4, as the expansion of LTE slowed down - for the full year, capex was up 6.3% to $8.9bn.
The cellco added a net 1.2m postpaid subscribers - the highest rate in three years - and 252,00 prepaid, though there was a net loss of 490,000 wholesale customers. This meant that total net new connections were 969,000, a 15% decline. Postpaid churn fell to 0.94%, from 1.01% a year earlier, and overall retail churn was 1.23%, down from 1.37%. Data revenue was up 19% to $6.27bn and now makes up 41% of the whole, helping to boost postpaid ARPU, up 2.5% to $54.80 (data ARPU was up 14% to $22.76).
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