Verizon reports 4.6% growth in Q1 2012 revenue at $28.24 billion

Telecom Lead America: Verizon Wireless has reported 4.6
percent growth in Q1 2012 revenue at $28.24 billion as compared with $26.99
billion in Q1 2011.

Wireless service revenues increased by 7.7 percent during
the period.

Verizon posted 8.9 percent year-over-year increase in
retail service revenues.

Data revenues are up 21.1 percent.

The mobile operator said it added 734,000 retail
customers. This includes 501,000 retail postpaid net customer additions.

Verizon has 93 million retail customers and out of this,
88 million are retail postpaid customers.

It has 193,000 FiOS Internet and 180,000 FiOS Video

Verizon said it had net increase of 104,000 broadband
connections from 4Q 2011. FiOS Internet customers now total more than 5

Interestingly, Verizon posted 8.1 percent year-over-year
increase in consumer ARPU. 63 percent of consumer revenues are generated by

“We built momentum coming out of 2011, and our
results show that we continue to execute in the key growth areas of our business. 
Verizon Wireless produced both great growth and great margins, and we produced
another strong quarter of FiOS growth.  We are confident we will improve
Wireline margins for the full year.  Our repositioning of Verizon
Enterprise Solutions has better aligned our strengths in high-growth markets,
and we expect our enterprise business to contribute even more to overall
Wireline revenue growth and profitability over time,” said Lowell McAdam,
Verizon chairman and CEO.

Capital expenditures touched $3.6 billion in Q1
2012, a decrease of $798 million compared with first-quarter 2011.

Retail service revenues grew 8.9 percent to $14.9

Data revenues were $6.6 billion, up $1.1
billion or 21.1 percent year over year, and represent 42.9 percent of all
service revenues.

Retail postpaid ARPU grew 3.6 percent over first-quarter
2011, to $55.43.  Retail postpaid data ARPU increased to $23.80,
up 16.0 percent year over year.  Retail service ARPU grew 3.4 percent,
to $53.66.

Verizon Wireless continued to roll out its 4G LTE mobile
broadband network, the largest such network in the U.S.  As of today,
Verizon Wireless 4G LTE service is available to more than 200 million people in
230 markets across the U.S. – more than two-thirds of the population.

Verizon Wireless introduced five new 4G LTE devices in
the first quarter 2012:  the Droid 4 and Droid Razr Maxx by Motorola, the
Spectrum and Lucid by LG, and the Samsung Galaxy Tab 7.7.  In addition,
the Apple iPad with Wi-Fi + 4G became available from Verizon Wireless in mid-March

Global enterprise revenues totaled $3.9
billion in the quarter, up 0.9 percent compared with first-quarter
2011.  Sales of strategic services – including Terremark cloud services,
security and IT solutions, and strategic networking – increased 11.6 percent
compared with first-quarter 2011 and represented 51 percent of global
enterprise revenues in first-quarter 2012.

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