Verizon Communications, the majority shareholder of Verizon Wireless, announced the carrier's Q2 2010 earnings report today. Verizon Wireless earned $16 billion in revenue, a 3.4 percent year over year growth, and managed to add 1.4 million subscribers in Q2. That number, just shy of AT&T's 1.6 million new subs, brings VZW up to 92.1 million subscribers. The number would be higher, but thanks to Verizon's acquisition of Alltel, the carrier was forced to divest 2.1 million customers to meet demands of federal regulators. Big Red's customer churn rate during Q2 2010 was 0.94 percent, with a blended churn rate of 1.27 percent. Churn is a measure of the percentage of customers that leave a carrier for one reason or another.
While Verizon wasn't able to add as many new subscribers as AT&T, they did manage to earn more revenue and ended up with more total subs, even after losing over two million Alltel customers. At least part of Verizon's continued success has to be due to the popularity of its DROID line of phones, as the original DROID as well as the Incredible and DROID X have been seeing great sales. With all of its recent Android phones, as well as the Alltel acquisition, it seems Verizon is doing pretty well for itself.