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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)
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Comments (5)
  • genomegk
    , contributor
    Comments (569) | Send Message
     
    Revisiting last week's story that claimed Verizon was $12 billion or 19 million phones behind contractual obligations to Apple due to lower than expected iPhone sales.

     

    Did Verizon really expect YoY increases significantly greater than 44% and commit treasure to match?
    18 Jul 2013, 10:35 AM Reply Like
  • rocback
    , contributor
    Comments (1158) | Send Message
     
    Incredible gain for Apple especially since the I phone 5 is so old already.
    18 Jul 2013, 10:38 AM Reply Like
  • smart_investoor
    , contributor
    Comments (232) | Send Message
     
    apple earnings will blow past estimates, Iphone sales should be +30M
    18 Jul 2013, 10:57 AM Reply Like
  • Caligula66
    , contributor
    Comments (32) | Send Message
     
    I thought Verizon wasn't selling any Iphones? The FUD is strong going into earnings.
    18 Jul 2013, 11:32 AM Reply Like
  • Jack Baker
    , contributor
    Comments (971) | Send Message
     
    Wait until the 5s is out in late September. That 51% number will be much higher by year-end.
    18 Jul 2013, 11:54 AM Reply Like
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