Verizon Wireless reports fourth quarter 2008 earnings
Bucking the downward trend, Verizon Wireless announced strong Q4 2008 earnings yesterday amidst the downturn. Verizon Wireless saw a net increase of 1.4 million non-acquisition related customers in Q4 2008, most of which were in the retail sector. Verizon added a total of 5.8 million new subscribers in 2008, a 9.9% increase which brings its total subscriber base to 72.1 million. These figures do not include customers added with the Alltel acquisition. Verizon also had a low churn rate with 1.35% churn amongst all customers and 1.05% amongst retail postpaid customers. Verizon saw double digit percentage increases in revenue with a total revenue of $12.8 billion in Q4 2008 and $49.3 billion over the year, a 12.3% and 12.4% increase respectively. With 65% of retail customers rocking 3G enabled devices, data revenues reached $10.7 billion for the year, a 44% increase over 2007. All in all a solid performance from Verizon Wireless.
“@Scott: Why would you bother drooling over a discontinued product [800w] or a product with that lusty, sexy 0.1 OS update [Pro]? Waste of spit if you ask me.”
Absolutely amazing to me (still) that some people don’t understand the concept of an individual having their own taste, opinion etc.
You think these phones suck…Good for you, don’t buy one.
^I never said the phones “suck”. Just applying some straightforward logic where those particular models are concerned. Use an abacus for all I care.
Uhh, you’re making no sense now, but that’s cool – whatever
wonder how long vzw keeps allowing sprint to roam on alltel network? vzw could cripple sprint by hiking roaming agreements.
^eh … kids these days!
On every post on this site, it’s like Engadget Mobile and iPhone posts over here, Verizon fans boys are everywhere!
They are a good company, but damn, if you look two posts below you can see that AT&T also increased their revenue and customer base. It’s as if it wasn’t there. The top two carriers making money aren’t surprising, they are top two for a reason.
And the iPhone is a great phone, maybe this and other sites are in the tank for it, but it a wonderful piece of tech. Don’t have to hate, the iPhone and the Storm can coexist.
Now, maybe they can afford to treat their employees decently? For the last two Christmas seasons I worked 21 days with no days off while my boss took the week after Christmas off….nice.
I agree, all you people need to come down and basically shut the f… up about who has better phones or network and why everybody else suck… No one cares. I’ll repeat, no one GIVES A SHIT! Use the phone you like, on the network you’re happy with and it’s all that matters. Don’t have to hate… Can’t we all just be exited about all the progress and great technology? Damn…
P.S. And if I see you on the street using the phone from a different company that I use… I will take it to the next level and f… .. kick your ass! That’s what it’s all coming to… caveman f@cks with high tech toys!
The worst thing about Verizon is that its CDMA. This means you cannot talk and do data at the same time. This is very disturbing because that eail you were waiting for doesn’t come through until you quit browsing the web. I just love being able to use two different phones by swithching out the SIM card on AT&T and TMO. I have carried WM6 smart phones on Verizon and AT&T for the same two week period and I can tell you emphatically that AT&T has the better data network. Verizon has better voice.
Now when and if Verizon converts to LTE (a GSM network with SIM cards), they may have end up with the best network.
Since data is more important to me than voice, I strongly prefer AT&T. I like having my choice of phone and changing phones without having to go to the carrier. I like traveling worldwide and having coverage. Verizon’s advertisements are doing the job – fooling the ignorant masses that they have the best network. That’s true if all you do is talk. But if you want your email quickly or want to browse the web in the most places, you’d better go with AT&T. Using DSL reports to check download times, AT&T is at least 25% faster. Also, did I mention that CDMA phones draw more power and thus have shorter battery life? I switched to AT&T and am much more happy.
@ This Guy
Did you see AT&T’s numbers? Earnings fell 23.6% in Q4. 2.1 million customers were added for the quarter (not including those that left), and 1.9 million of those were the iPhone.
If it wasn’t for the iPhone…
VERY WELL PUT! Nothtckid! I don’t have money to throw, but I agree with most of what you said.
VERY WELL PUT! Nothtckid! I don’t have money to throw, but I agree with most of what you said.
P.S. EVEN BGR has said time and time again Verizon is the best out there.
Verizon is a very well run company. So is AT&T. the drop in earnings was mainly do to some changes in accounting. If you really think Verizon is best, try the following. Take any smartphone that has similar models run on AT&T and Verizon (Eg. an HTC Kaiser on AT&T and an HTC 6800 on Verizon, or you could use similar Blackberries) and travel with them in cities and rural areas. You’ll find that AT&T does have more bars in more places. You’ll also find that download speeds with AT&T are faster. At least 25% faster. Next watch you battery life. CDMA sucks power big time. You’ll get 3/4 of a day out of heavy web usage with a Verizon device and get a whole day out of an AT&T device. Verizon is a big, well advertised, expensive JOKE of a service provider. Try to travel to Europe or South America and get coverage on your POS Verizon handset that you’re locked into for two years. Oh but wait, you cannot even use WiFi because Verizon thought it best to either not include it or locked it up. Also Verizon is famous for locking up the GPS so that you must buy their navigation service. What a JOKE!!!
@Rambo6
Nice rant. None of what you
say is true ans you are a
Frigin idiot. I think my
Storm is supposed to be a
world phone… Oh wait it is.
It must be really
frustrating to have to stop
at a Mcdonalds to Leach off
of their wifi to get a good
signal with you iphone.
@ Joe,
4 Bars for ATT and 1 for Verizon huh? Funny thing is, even if that were true, try making a call on ATT and guaranteed it will drop the call. I’ve had nothing BUT dropped calls from ATT with FULL BARS. ATT is shit. Going back to VZW where I never had/have dropped calls and more coverage than ATT!
BGR is a VZ beatch, notice there’s not post yet, announcing that A&T added 600 thousands more net wireless customers than VZ, nothing mentioned yet that all of VZ metrics are on the downturn, while all of AT&T’s are on the upturn. (leaving the wireline numbers out)
Both of these companies are top two for a reason, and every carrier has sucky reception somewhere, but there’s a reason why VZ devices seem outdated and lagging, that’s because 85% of the world runs on GSM/WCDMA and when you want to build a device to sell to the broadest possible customer base, it’s crazy to design and build your product specifically for a CDMA/EVDO carrier only or first. I’m sure Sprint is PAYING Palm big time for the exclusive rights to the Pre, because it makes no sense otherwise for Palm to have done that.
Give it about a year and a half, and AT&T will have reclimed the # 1 spot again from VZ. If I remember correctly, I did the numbers when it came out, it cost VZ about 1000 dollars per customer to buy Alltel and get into that number 1 spot.
^Sprint/Palm is one codependent, disfunctional marriage in desperate need of a divorce for both their sakes.
Vzw is doing very well and these rebate changes won’t affect much, people will still flock to them