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Verizon Q1 2013 earnings: another big quarter for big red

Verizon has just posted its Q1 2013 earnings, and while it reports both its wireless and wireline businesses in one release, we're going to break out the wireless parts separately. Let's hit the high points first:

  • $19.5 billion in revenue, up 6.8-percent year over year
  • $16.2 billion of that revenue was related to selling service, up 6.9-percent y-o-y
  • Postpaid ARPA (Average Revenue Per Account) was $150.27 per month, up 6.9-percent also
  • 677,000 net customer additions for the quarter
  • 98.9 million retail connections (93.2 million postpaid) in total at the end of the quarter, up 6.4-percent
  • Retail postpaid churn was 1.01-percent, up 5 basis points

Overall, it seems like a solid quarter for the company, posting improvements and increases on nearly every company metric. Customers, accounts, revenues and earnings per account all went up in the quarter. Verizon has also pointed out that its LTE network now reaches 287 million people in a staggering 491 markets across the country. The continuous quarters where Verizon makes boatloads of money don't seem to be stopping any time soon.

Source: Verizon (opens in new tab)

Andrew was an Executive Editor, U.S. at Android Central between 2012 and 2020.

  • Well it's not like they're cheap..
  • Where is the bashing let's go.
  • ... and a record butt raping of its loyal customers.
  • That's why I left them. Happy with straight talk. :)
  • Yup. I'm pretty sure that their nickname "Big Red" is meant to refer to your ass when they're taking you every month. When you ream your customers as hard as they do, it's no surprise they're making money hand over fist. If it wasn't for their ridiculous coverage, my grandfathered unlimited plan, and the fact that I get a 20% discount through my employer, I would have dropped them years ago. I'm honestly a little surprised that no one has filled against them with the FTC over the fact that your bill does not go down even when your subsidized headset is paid off.
  • AT&T LTE coverage is pretty good now and getting better all the time. And their HSPA and HSPA+ speeds are actually pretty good, too. Like you, it's only my grandfathered Unlimited data ($24/month, after discount! and my 20% discount that is keeping me from switching. I will probably continue to buy almost new phones off CL, for half the price of a new one, to stay on VZW and still have a top phone. I'm thinking VZW Note 2's should be about $300 - 350 on CL shortly after the S4 comes out...
  • Ditto (but 24% discount here). I saw the $150 ARPA figure and didnt feel so bad, my account is $143 and thats for 3 lines of service. I'm an above average saver! Too bad all those non-corp-discount suckers, er customers are subsidizing our contracts!
  • I was going to say $19.5 billion from their 1,000 customers but the expensive part has been said, carry on.
  • With all that damn profit why don't they start bumping up their over saturated Network. I have a phone with Verizon, got it over a year ago and was lucky enough to get on their unlimited data plan and still have it today. My data speeds have gone from 23 mb down and 3 mb up to a pathetic 2.7 mb down and about the same up. I live in the Boston area and my entire area is like this. Many areas throughout this city is getting pathetic data speeds. Verizon is great for taking but give you shit back. I put my account on a 3 month suspension without receiving a bill, I will drop them after 3 months if those speeds have not greatly improved.
    Verizon needs to spend some serious money on their Network, they are so over saturated in all the heavy populated areas.
  • When LTE first came to my area I was getting about 21 down and 8 up. Now I am getting about 23 down and 6 up, so obviously verizon is still working on the network. I'm sure if you're patient you'll see your speeds go up.
  • They keep taking their customers for everything we have!
  • Efff you verizon!! Only reason I am keeping you is cause of ur LTE and my unlimited plan. I will be paying full price for my next phone so I wont have to go to ur dumbass share everything plan!!
  • If you think you're sticking it to Verizon by buying a full-price phone to skip on Share Everything you're sadly mistaken. They're happy to have you continue to pay extremely high monthly prices and also buy your phone at full price. If that's your form of "protest" about how you hate Verizon, I'm sure they wish every customer hated them so much. If it wasn't completely profitable to let you keep your unlimited plan and buy full-priced devices, they wouldn't be offering that option.
  • Stop being logical, that has no place on the internet.
  • I am paying $80 for unlimited data/text and 500mins of talk time. I think thats a pretty good price.
  • I don't believe these numbers for a second. At least 2/3 of the posts on this site are people saying how much they hate verizon and how they are leaving or are glad thay left, so Verizon must be BSing all of us...either that or people on here just like to complain for the sake of complaining. I'm picking choice B...definitely choice B
  • Yes. Because these large companies must always fake their numbers. That wouldn't get anyone in trouble. Yup. 2/3 of the posts on this site are not about leaving Verizon.
  • Well it would be illegal for Verizon to give misleading or misrepresented numbers in a public earnings release. So... Also, have to remember that people on AC aren't a representative sample of every user on Verizon. Sure, lots of people dislike Verizon and want to (or do) leave. But tens of millions of people are happy with their service and gladly pay them every month for it.
  • Yeah, because BSing Audited financial statements is so easy in the post Enron world. Please remove your tin hat.
  • As Verizon could be fined and delisted and their Execs could be personally fined and arrested, I think you can trust these numbers more than anonymous comments on a intranet site.
  • Intranet? No, that's a real thing. I think you meant "intarwebz"
  • All of the changes that Verizon has been making were supposed to lead them down a path of destruction. But Verizon is still making money. Reports of Verizon's demise have been greatly exaggerated.
  • the bad thing about all of this is that they HAVE to make more next quarter and next quarter and next quarter or they are not doing good. that is the problem with the stock market.
  • What? You have problems with investors wanting a return on their investment? You realize EVERYONES retirement depends on companies being able to be successful. Unless you truly expect the government to take care of you.
  • If he voted for Obama, then yes he expects
    the government to take care of him.
    I'm literally scared about the future of this country.
    A lot of people are being cut to part- time
    cause of ObamaCare, part-time workers are less
    empowered consumers, this will effect the economy
    very bad next year, or sooner.
  • go watch more fox news and go listen to more limbaugh. nothing is gonna happen to this country. they are telling you all this wacked out stuff so you keep watching and listening. they make there money off of brainwashed people like you.
  • Every empire falls.
  • I've been with Vzn just over 3yrs, I have a Droid Charge, and would like to enjoy the benefits of of quad-core processors, 2GB's of RAM,  and all of the enhancements of Jelley Bean, I can't pay full retail all at once, and don't like Verizon's idea of a device payment plan,  and their stupid 2/mo financing charge, their a wireless carrier not a bank!!! T-Mobile no finance charge. Wednesday the 24th I will be getting the beastly Galaxy S4 from T-Mobile who doesn't punish people cause they don't have full retail and want to be able to ACTUALLY use their smartphone with truly Unlimited Data!!!!! I live in Connecticut, and have gotten good testimonies from T-Mobile's customers.
  • The VZW talk of people complaining about them is the same as all the people that complain about a certain phone, you only take the time to complain and not the time to praise. I always try to take the time to praise VZW when I can. Can't beet the coverage,that simple.
  • may be the last 3 motorola phones (MAX,HD,M)made a good profit !
  • I love Verizon. Of course I don't pay for it so that may be why. Protip. Get a real job that pays for your cell service.
  • Let Verizon have their day for now. Tmobile is the lion in sheep's clothing. They have the best business plan around and when their network gets even better then it is not with the addition of LTE people will ask themselves why they were paying Verizon 1200 a freegin year for cell phone coverage. Cell phone plans were not meant to be what Verizon has made them. In time they will fall.
  • All that raping of their customers finally pay off