Profits & Losses: October 2007 Archives

Verizon in its 3Q2007 announcement stated that it has added 1.6 million customers wireless customers and a 14.4 percent increase in total wireless revenues even with its stiff competition from AT&T the exclusive seller of the iPhone.

“Our third-quarter results show that we have hit our stride as a leading wireless, broadband and enterprise company,” said Verizon Chairman and CEO Ivan Seidenberg.

Reuters reported, “Verizon Wireless’s customer growth exceeded Wall Street expectations and made up for slowdown in Verizon’s landline, or wireline, business.”

AT&T reported a net wireless subscriber addition of two million making its total base to 65.7 million. It also reported activating 1.1 million iPhones since its launch in late June. Its increase in profits is attributed to wireless and broadband services.

Also reported:

• AT&T’s wireless revenues totaled $10.9 billion, up 14.4 percent from the year-earlier quarter.
• Wireless service revenues, which exclude handset and accessory sales, grew 13.7 percent to $9.9 billion.
• Wireless data revenues increased 63.9 percent versus results in the year-earlier quarter.

Alltel announced a great 3rd quarter, adding 205,000 subscribers and surpassing $2 billion in quarterly wireless service revenues for the first time.

Highlights of their wireless gains include:

• Average revenue per wireless customer (ARPU) was $55.96, a 4 percent increase from last year. Data revenue per customer was $6.36, up 70 percent from last year and 13 percent sequentially.
• Wireless service revenue was $2.1 billion, an increase of 15 percent from a year ago.

Alltel is in the processing of being acquired for  $25 billion by TPG Capital and Goldman Sachs.