Verizon Wireless Subscribers, Revenues, Profits Rise
By Carlo Longino, Tue Apr 27 14:15:00 GMT 2004

It's full steam ahead at the top US carrier.

The carrier, a joint venture between Verizon Communications and Vodafone, added 1.4 million subscribers in the first quarter as revenues increased 21 percent from the same period last year to $6.16 billion and operating income rose 37.3 percent to $1.2 billion.

Churn dropped one basis point from the last quarter to 1.6 percent, while ARPU also fell one dollar over the same period to $48, and 3.6 percent of that came from data, compared to 3.2 percent last quarter and just 1.5 percent a year ago.

Five of the six US national carriers have reported their first-quarter figures (T-Mobile, the only that hasn't, should do so May 13), and Verizon's reporting the lowest churn and most net adds. While it's definitely benefiting from number portability (Verizon's gaining 10 subscribers from AT&T Wireless for each it loses to it), Verizon still lags near the bottom of the chart when it comes to ARPU, even though Verizon's rates tend to be significantly higher than its competitors.