Verizon rakes in subscribers with help of iPhone
NEW YORK (AP) - April 21, 2011 (WPVI) -- Helped by the iPhone, Verizon Wireless is pulling in more high-paying subscribers than it has in a year, and 15 times more than rival AT&T.
Verizon Communications Inc. on Thursday said it added 906,000 wireless subscribers on contract-based plans in the January to March period, more than double the number of a year ago.
Verizon Wireless started selling the iPhone on Feb. 10, ending AT&T's exclusive grip on the device in the U.S.
Verizon says its net income climbed to $1.44 billion, or 51 cents per share, in the three months ended March 31. That's up from $443 million, or 16 cents per share, a year ago, when results were weighed down by a one-time charge.
It says revenue edged up 0.3 percent to $26.99 billion.
Both adjusted earnings and revenue slightly exceeded analyst expectations.
verizon, apple, cell phones, iphone, business/finance
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