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Thursday, Jul 18
The iPhone (AAPL +0.7%) accounted for 51% of Verizon Wireless' (VZ -2.4%, VOD -0.5%) Q2...
The iPhone (AAPL +0.7%) accounted for 51% of Verizon Wireless' (VZ -2.4%, VOD -0.5%) Q2 smartphone sales. That translates into 3.9M iPhones, above estimates and good for a 44% Y/Y increase (up from Q1's +25%). Verizon also says it isn't interested in Leap Wireless (LEAP -0.2%), and calls its interest in entering Canada an "exploratory exercise." Retail postpaid net adds rose Q/Q, but Y/Y growth fell to 6% from Q1's 35%. Retail churn was 1.23%, -7 bps Q/Q but +12 bps Y/Y. Retail postpaid ARPA rose by $2.23 Q/Q to $152.50. Retail prepaid net adds totaled 97K vs. 43K in Q1 and 290K a year ago. Total wireline revenue -1.6% Y/Y, as business declines offset consumer growth. 2013 capex budget slightly raised to $16.4B-$16.6B from $16.2B. (Verizon Q2: I, II)