The flow of financial results announcements began in the past week or so, and today it continued thanks to Verizon Q3 2014 earnings release.
Verizon says that its wireless division added 1.53 million connection during the third quarter, 1.52 million of which were postpaid. This led VZW to finish Q3 2014 with 106.2 million connections, including 100.1 million postpaid connections, which is a 5.2 percent increase from the Q3 2013.
On the hardware side of things, Verizon sold 457,000 postpaid phones and 1.1 million postpaid tablet during the quarter. Once the third quarter was all over, 77 percent of Verizon’s postpaid customer base was using a smartphone.
Verizon also says that it continued to improve its 4G LTE network during the quarter. Its XLTE coverage, which uses AWS spectrum to add bandwidth to its existing LTE service, is available in more than 400 US markets.
Revenue for Verizon Wireless finished at $21.8 billion for the quarter, up 7.0 percent year over year, while its postpaid average revenue per user (ARPU) grew 3.5 percent YOY to finished at $161.24 per month.
Finally, Verizon CFO Fran Shammo was asked about Verizon’s absence in the Apple SIM that’s offered with the iPad Air 2. Shammo didn’t have much to say in response, simply saying, “We have our own SIM card that we place in our devices. That’s really all there is to be said on that issue.”
Overall it sounds like Verizon had itself another nice quarter. The carrier added more subscribers, continued its XLTE rollout and sold a ton of tablets. It’s kind of a bummer that we still don’t know why Verizon isn’t supported by the Apple SIM — and it’s unlikely that we ever will — but it’s also not terribly surprising since Verizon is known for doing its own thing.
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