Verizon Q3 2013 results include 1.1 million new connections, more smartphone-owning subscribers

Alex Wagner
Editorial Director of News and Content from  Omaha, NE
| October 17, 2013

Verizon Wireless logo

Verizon's Q3 2013 results are in, and it looks like big red operator had itself another nice quarter. The company announced today that Verizon Wireless added 1.1 million retail connections during the third quarter, including 927,000 retail postpaid connections. That brings Verizon's total subscriber base up to 101.2 million retail connections, a figure that's up 5.5 percent year over year and includes 95.2 million total retail postpaid connections.

Verizon also revealed that it had a total of 35 million retail postpaid accounts at the end of Q3, which works out to an average of 2.72 devices per account. The number of customers on a Share Everything plan grew during the quarter, growing to a total of 42 percent of all retail postpaid customers, a figure that's up from 13 percent in Q3 2012. The size of Verizon's smartphone-owning subscriber base increased as well, growing from 64 percent of all postpaid subs in Q2 2013 to 67 percent in Q3 2013. In all, Verizon reports that it activated 7.6 million smartphones in Q3 as well as a total of 6.8 million 4G LTE devices.

Finally, Verizon says that its 4G LTE network covers more than 303 million people in over 500 markets. The big red carrier says that it is "substantially complete" with its LTE rollout and that the network covers 99 percent of its 3G network footprint.

On the financial side of things, Verizon Wireless reports that it $20.4 billion in revenue for the third quarter, a figure that's up 7.2 percent year-over year. Service revenues grew 8.4 percent from Q3 2012 to finish at $17.5 billion.

U.S. consumers are steadily continuing to adopt smartphones, and as a result, carriers like Verizon are seeing increases in both their smartphone-toting customer base as well as their shared data plans that allow for families with several smartphones to share a single bucket of data. Also likely helping to boost the adoption of shared plans are cellular-enabled tablets, which offer an always-on connection and are often fairly cheap to add to an existing plan.

Verizon is scheduled to hold a conference call to discuss its Q3 2013 results at 8:30 a.m. ET, and as usual, you can bet that I'll be listening in for any other tidbits of information that Ol' Red may have to share. Stay tuned.

Via Verizon