Although Apple’s iPhone 5 was only available for a fraction of Verizon’s third quarter, sales were still strong enough to make a meaningful impact on the carrier’s bottom line.
For the third consecutive quarter, Verizon logged double-digit earnings growth and continued strong cash flow.
For the quarter, Verizon activated 3.1 million iPhones. Of the 3.1 million units, 21% of them were Apple’s new iPhone 5.
Additionally, Verizon says that 4G LTE service now available to more than 250 million people in 419 markets across the U.S.
“We remain solidly on track to meet our financial objectives for the year,” says Lowell McAdam, Verizon chairman and CEO. “With our 4G LTE network advantage, well-received Share Everything Plans and unmatched product portfolio, Verizon Wireless continues to do an outstanding job of balancing growth and profitability. Wireless achieved record profitability in a quarter in which we reported the highest number of retail postpaid gross and net adds in four years.”
