The nation's largest wireless carrier added 1.5 million total net customer additions, which included 423,000 retail postpaid net customer additions. As of the end of the quarter, Verizon Wireless had 92.8 million total customers, up 7.2 percent year-over-year.
Postpaid churn dropped to 1.07 percent, while total churn stood at 1.40 percent. Postpaid ARPU (average revenue per user) year-over-year remained flat at $50.95 while data ARPU rose 19.6 percent to $17.06. Unfortunately, profits were down to $2.28 billion from $3.21 billion in Q1 of 2009, but a key player in the drop was a $970 million charge for health care reform. At the end of the quarter, total revenues were $26.92 billion.
All in all, rather lackluster news on the Verizon front, and below analysts' expectations. With the upcoming launch of the DROID Incredible, KIN ONE, KIN TWO, and BlackBerry Bold 9650, here's to hoping that they can regain some momentum.
Additional Q1 2010 Reporting (as it is available):