Verizon Adds More Customers than Expected, Profits Practically Double in Quarterly Report
Kevin Krause
Verizon just released their quarterly earnings report, and it looks like Big Red is doing pretty well for themselves. This time last year the carrier was raking in $2.37 billion, a number which was nearly doubled to $4.65 billion last quarter. This could have a lot to do with the 872,000 new subscribers Verizon added, a number greatly exceeding the expected addition of 646,000. Those numbers could have a lot do with the stellar Android lineup available on VZW’s network coupled with big holiday phone sales.
Still, Wall Street isn’t so pleased with the figures. 54 cents a share just didn’t live up to the 55 cents per share expected, resulting in a slight drop in price of Verizon stock. We can only hope the iPhone 4 will save the carrier from a total financial meltdown…
