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Verizon Doing Just Fine Without iPhone, Thanks

Posted Oct 26, 2009 10:04am EDT by John Paczkowski in Electronics, Media, Products and Trends, Mobile

From All Things Digital, Oct, 26, 2009: 

Verizon posted a decent third quarter this morning, besting consensus estimates. Analysts polled by Thomson Reuters had been expecting earnings of 59 cents on revenue of $27.17 billion. Excluding one-time costs, Verizon reported profits of 60 cents a share on revenue of $27.3 billion. That’s a 10 percent decline year-over-year, but still better than expected.

Wireless-subscribership gains, though they trailed AT&T’s iPhone-bolstered numbers, were impressive nonetheless. Verizon added 1.2 million wireless customers during the quarter raising its total count to 89 million. That’s not the 2 million AT&T added, but it certainly demonstrates that the absence of the iPhone from Verizon’s handset line-up isn’t holding the carrier up all that much.

Verizon also added 198,000 net new customers for FiOS Internet and 191,000 for FiOS TV service.

“Verizon continues to generate strong cash flow, which we have used in building the foundation for sustainable, long-term shareowner value,” Verizon CEO Ivan Seidenberg said in a statement. “Even through the worst of the recession, we have continued to raise our dividend and to add new customers, expand markets and grow revenues based on the power and innovation of Verizon’s wireless, broadband and global networks.”

More coverage from All Things Digital:

32 Comments

Terry
Terry - Monday October 26, 2009 10:17AM EDT

I still don't get yet. The dividend is good but the year-over-year is down 10% but that's a good number for Wall St.?

Coyote Ford
Coyote Ford - Monday October 26, 2009 10:32AM EDT

BUY VERIZON AND HOLD !!!

Kanman
Kanman - Monday October 26, 2009 10:36AM EDT

Yeah, I'm sure they wouldn't want to be selling iphones. Give me a break. Wonder what they'd be doing if they could sell the world's best phone? Is the author of this article the "PC" guy from the apple commercials?

Yahoo! Finance User
Yahoo! Finance User - Monday October 26, 2009 10:38AM EDT

what are you smoking? VZ needs the iPhone. You call this doing good?

James
James - Monday October 26, 2009 10:46AM EDT

Really? Little more than half the increase in wireless compared to AT&T shows strength? And Verizon has more wireless customers, so that is a wider gap as a percentage growth.

Steve
Steve - Monday October 26, 2009 10:49AM EDT

Verizon will sell off tomorrow after analyst strip down the numbers and compare them to AT&T. Buy below 25

san
san - Monday October 26, 2009 10:57AM EDT

When will the penny drop on regulators... exclusive deals are the same as price fixing!!! This comes from someone who runs a store, we make the most money on items nobody else can sell, hahaha! :D

sjjm
sjjm - Monday October 26, 2009 10:59AM EDT

ive stayed with verizon the last couple years hoping for the iphone next summer, once att's contract is up with apple. verizon has better coverage in our area... so ill stick with them. but im going back to plain old cell phone service instead of the blackberry if they dont have the iphone when i renew next summer. im not paying the big price anymore for cell phone internet service unless its on an iphone. all these companies try to imitiate the iphone and no one has come even close...

Yahoo! Finance User
Yahoo! Finance User - Monday October 26, 2009 11:01AM EDT

Who cares about iphone. for the people who don't know the chat feature has been on palm since the treo 600 days. New features will get invented anytime by different phone manufacturers and will be copied by others again next time. Multitouch which apple pioneered will be available next time on more phones. I don't care which phone I use as long as I can get free apps including iphone. You don't have to pay for the apps guys. Its available on the net, just know where to look for it.

Scott
Scott - Monday October 26, 2009 11:52AM EDT

I believe verizon is better. more coverage and when att loses the contract to verizon you will see.att is not a good carrier, not good customer service. they need to come back to reality

Yahoo! Finance User
Yahoo! Finance User - Monday October 26, 2009 11:53AM EDT

at the guy above who says "who cares about iPhone" Do you know what you are talking about? What apps are on the net, web apps?

RobertB
RobertB - Monday October 26, 2009 12:26PM EDT

Will the Verizon 4g be any faster than the 3g for internet service

san
san - Monday October 26, 2009 12:35PM EDT

Microsoft bloke said Apps are their to hide the fact their iPhone doesn't do the whole internet. Java anyone? Flash anyone? An never ask Apple how green it is to make a product you can't replace the battery on. Apple are missing a trick though, if the make a white phone, red phone, blue phone, pink phone. They could have had 4 suppliers with exclusives. :D

frankmargel.com
frankmargel.com - Monday October 26, 2009 12:35PM EDT

Verizon charges big bucks to advertise in the phone book...It's all about the price a business is forced to pay to promote. WOW!

Bulleye168
Bulleye168 - Monday October 26, 2009 01:09PM EDT

NATIONALISATION HERE WE COME!!! A senior administration official said on Sunday that after extensive consultations with Treasury Department officials, Representative Barney Frank, the chairman of the House Financial Services Committee, would introduce legislation as early as this week... The measure would make it easier for the government to seize control of troubled financial institutions, throw out management, wipe out the shareholders and change the terms of existing loans held by the institution. http://www.nytimes.com/2009/10/26/business/economy/26big.html?_r=1&ref=business

NickN
NickN - Monday October 26, 2009 01:13PM EDT

Verizon will fail without a viable device to compete with Iphone. Everyone I know says the Storm is not as promised and they will dump Verizon to go to a network that supports Iphone..Better rethink this Verizon!

God
God - Monday October 26, 2009 01:40PM EDT

The contract with AT&T will get renewed and VZ will cry to regulators.

protogo
protogo - Monday October 26, 2009 02:39PM EDT

Location, Location, Location......or in the case of cell phone providers...Service, Service, Service. The commercial has is right, if you don't have service where you are your fancy phone is just a paperweight. Verizon has the best (and sometimes the only) coverage available across the U.S.. That is why they are and will continue to be the largest cellular provider!

Yahoo! Finance User
Yahoo! Finance User - Monday October 26, 2009 02:58PM EDT

VZ service is superior and provides better coverage compared to AT & T (and others for that matter). AT & T has added subscribers but they lose out on how much they make on the device. I agree that iPhone is a better product but others will catch up. Generally speaking, folks don't mind giving up the iphone experience over better service. I personally don't have iphone but I do use Ipod touch. If you are playing stock, personally VZ and AAPL make more sense. Don't forget the VZ's FiOS service which is leaps and bounds better than AT & T's Uverse (I called is U worse),

Yahoo! Finance User
Yahoo! Finance User - Monday October 26, 2009 05:55PM EDT

For all those naysayer that say Verizon made a mistake about not picking up the iphone don't have a clue to what they are talking about. The terms that apple were requiring were above and beyond what anyone should have to pay to "just" sell their device. Att does make that much money off the iphone because they now share the monthy payments for whoever buys an iphone. That right att has to share the monthly profit for only providing the phone, not to mention that the phone purchase is also heavily subsidized by att.

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