Verizon posts Q2 2012 results, says half of postpaid customers using smartphones [UPDATED]

Alex Wagner
Editorial Director of News and Content from  Omaha, NE
| July 19, 2012

Verizon Wireless logo

Get ready for some early morning financial figures, because Verizon this morning shared its second quarter 2012 financial report. Verizon posted total revenues of $18.6 billion for the quarter, a 7.4 percent increase year over year. It's also worth noting that data revenue finished Q2 at $6.9 billion, an 18.5 percent (or $1.1 billion) year over year jump, representing 43.6 percent of all of Verizon's service revenues for the quarter. Verizon's average revenue per user (ARPU) for postpaid users finished at $56.13, a growth of 3.7 percent from Q2 2011, which Big Red says is it its highest in three years.

On the customer side of things, Verizon says that it added 1.2 million retail net customers in the second quarter, 888,000 of which were postpaid. The helped Verizon see a 4.9 percent year over year increase in customers, finishing Q2 with 94.4 million retail customers. Of that total, 88.8 million were postpaid. Verizon says that postpaid churn for Q2 was at 0.84 percent, its lowest in four years. Total retail churn finished at 1.11 percent. Verizon also said that 50 percent of its postpaid customer base was using smartphones at the end of Q2, up from 47 percent in Q1.

Overall it looks like the second quarter of 2012 was pretty good to Verizon. It's interesting to hear that half of Big Red's postpaid subscriber base was toting smartphones at the end of Q2 2012, a fact that no doubt helped the carrier to some nice data revenues and ARPU. If you'd like to check out the full nitty-gritty of Verizon's second quarter report, you can find it at the link below.

UPDATE: During its investor call, Verizon revealed that it sold 2.7 million iPhones and 2.9 million Android smartphones during the second quarter. Of those 2.9 million Android handsets, 2.5 million were 4G LTE-enabled. In all, Verizon reports that it moved 5.9 million smartphones in Q2 2012.

Via Verizon, CNET