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Verizon results show iPhone aiding AT&T

updated 04:15 pm EST, Mon January 28, 2008

Verizon Slower than ATT

Verizon today posted its latest quarterly results, revealing mixed fortunes for the company and the potential effect of the iPhone. The American telecom firm netted about 37 cents per share and earned about $23.8 billion in net income during the last three months of 2007, representing a 5.3 percent climb compared to the same period last year. The results represent "strong growth" in "strategic" areas, according to company chief Ivan Seidenberg. However, the increase masks a slight dip in operating income of 0.6 percent and accompanying layoffs. The company's traditional landline services also saw a revenue drop of 1.4 percent.

The provider's growth also demonstrates potential long-term challenges, however. Two million additional customers signed on to Verizon Wireless during the last quarter. The figure represents 11.3 more customers than the same time last year but is substantially slower than for Verizon's chief rival AT&T, which added 2.7 million subscribers over the same period. AT&T also leads in terms of sheer numbers with 70.1 million active subscriptions versus Verizon's 65.7 million.

A large though unspecified number of the AT&T additions are believed to have their roots in the iPhone: Apple shipped an estimated 2.3 million iPhones during the fourth quarter, most of which were sold to AT&T customers. The latter firm said it had just short of two million subscribers using the handset.

Verizon's results came in spite of a large number of new handset introductions, including the release of the LG Venus and Voyager. Both handsets are media-focused touchscreen devices that are commonly regarded as direct challengers to the iPhone. The service operator has not broken down its phone sales by individual models.




by MacNN Staff

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  1. jdonahoe

    Joined: Dec 1969

    0

    Where does Verizon

    Where does Verizon get the idea that the Venus and Voyager are "direct challengers"? They have touchscreens, therefore they are iPod killers. I'm with Verizon and I'm still going to have to wait another 3+ years. No wait, my contract runs out in December......

  1. mgpalma

    Joined: Dec 1969

    0

    My contract just ended

    on the 26th with Verizon. I will switch once a 16GB iPhone is out, not before. Rollover minutes plus the iPhone, what a great combo.

  1. danviento

    Joined: Dec 1969

    0

    count me in

    with the # of people defecting from VZW to go with AT&T and the iPhone when my contract is up (dang $250 severance fee!). Since I loathe VZW, it's not so hard to do...

  1. testudo

    Joined: Dec 1969

    0

    Re: where does verizon

    Where does Verizon get the idea that the Venus and Voyager are "direct challengers"?

    They don't. In fact, I doubt you'll find many companies saying their product X is an iPhone killer/challenger, let along product Y being an iPod killer.

    If you re-read the statement, it just says "...that are commonly regarded as direct challengers to the iPhone."

    These are just what the "press" calls them, because you can't just have a product, the product must have been released to crush some other product.

  1. testudo

    Joined: Dec 1969

    0

    Re: count me in

    Well, $400 is way too much for me to spend on a cell phone, let alone the extra $20 they want for the data plan.

    But I'm considering moving to AT&T just for the rollover minutes. Their coverage looks lame in certain areas (look at southern VA and NC, it's like the coverage is along the interstates and that's it).

  1. koolkid1976

    Joined: Dec 1969

    0

    check facts testudo

    I know you love to disagree with people, but you should check your facts before you decide your assumption is better than the other person's. Yes, Verizon did claim to have an iPhone killer.

    Dominated by its 400x240 touch screen, the Voyager outwardly looks like that other phone on the market. "We think it'll be the best phone ... this year. It will kill the iPhone," Verizon Wireless Chief Marketing Officer Mike Lanman said in an interview with Reuters. http://www.betanews.com/article/Verizon_Claims_to_Have_iPhone_Killer/1191434499

  1. koolkid1976

    Joined: Dec 1969

    0

    re: re: count me in

    The iPhone is $399. Not $400. I figured you would appreciate the nit-picking.

  1. UberFu

    Joined: Dec 1969

    0

    at least...

    now it's "official"!

  1. danviento

    Joined: Dec 1969

    0

    ugh

    Someone needs to tell the graphic artist to resaturate the highlights and warm the white-balance on that picture- total turn off in my opinion.

    I wouldn't buy one with those specs at that price anway...

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