I reported on AT&T's third quarter earnings last week, and today, Verizon Wireless is up to bat.
The company added 1.2 million subscribers in the third quarter, bringing the total number of wireless customers to 89.0 million. While total churn was 1.49 percent, retail postpaid churn was 1.13 percent. Total ARPU (average revenue per user) decreased 2.2 percent year-over-year to $51.04 while data ARPU increased to $15.59, up 17.2 percent year-over-year. Revenues totaled $15.8 billion, an increase of 24.4 percent year-over-year.
Verizon Wireless is a subsidiary of Verizon Communications, which reported a profit of 60 cents per share, down six cents from the third quarter of 2008. Verizon added 198,000 new FIOS internet customers and 191,000 new FIOS TV customers, bringing the total number of subscribers to 3.3 million and 2.7 million, respectively.
From the perspective of a "wireless junkie," the main numbers to remember here are the increase in subscribers, total number of wireless customers, and churn (I typically consider the retail postpaid churn as the more "legitimate" number). If you're up for some more number crunching, the full earnings release can be found here. All things considered, it was a good quarter for the company, and with the Motorola Droid, BlackBerry Storm 2, and the inevitable push of more "Verizon vs. AT&T" ads, I have a feeling that the fourth quarter will be fun to watch.