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Verizon shows strong quarterly earnings

Written by Andre Yoskowitz (Google+) @ 25 Jul 2010 0:56

Verizon shows strong quarterly earnings Verizon, the largest wireless carrier in the United States, reported earnings on Thursday and showed that they added more contract customers in the quarter than rival AT&T did, despite AT&T's exclusive rights to the latest iPhone.
For the quarter, Verizon added a net 665,000 contract customers, thanks mainly to a steady rollout of strong selling Android devices.

AT&T reported a net addition of 496,000 contract customers, even with the launch of the iPhone 4.

Those numbers, which follow a trend, have led many to believe that Apple has almost fully saturated the market for the iPhone with AT&T, with most new buyers being users upgrading from past iPhones.

"We still see a lot of upside here now that we're in a much better position from a device line-up perspective," added Verizon CFO John Killian.

In the smartphone and "messaging device" market, however, AT&T hold a significant lead, with 53 of its contract subscribers owning such devices. Verizon only has 35 percent for that key stat.

Verizon has a total of 92.1 million subscribers, including contract, prepaid and wholesale.

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