Verizon Says Apple Failed to Provide Enough iPhones Last Quarter

Verizon Says Apple Failed to Provide Enough iPhones Last QuarterVerizon posted strong third quarter results on Thursday, sending shares 2% higher.

The carrier topped analysts’ expectations as quarterly profit rose by 30% while sales simultaneously increased 4.4%.

Verizon activated approximately 3.9 million iPhones in its third fiscal quarter of 2013. More than half of all smartphones activated by Verizon in Q3 were iPhones.

Year-over-year for Q3, iPhone sales at Verizon were up 26%. But according Chief Financial Officer Fran Shammo, Apple came up short on providing VerizonĀ  with enough iPhone 5S units in the first weeks following its release, “resulting in a backlog of orders.”

Apple will announce its fourth-quarter financial report on October 28th.