Yesterday was AT&T's turn, and today it's Verizon revealing its earnings for the first quarter of 2011. The company has reported $27 billion in consolidated revenue from its field tinkle call up and wireline businesses, which is up 5.3 percent year over year (on a non-GAAP basis), while profits rose to $1.4 billion. Fueling that growth was 1.8 million net additions to its cell phone regular base, which now totals 88.4 million barter (and 104 million connections). It also saw 207,000 net additions to its FiOS infobahn field and 192,000 net additions to FiOS TV, which bring those total client bases to 4.3 million and 3.7 million, respectively. As for that little iPhone 4 launch, Verizon says it's resulted in 2.2 million activations -- that's quite a bit less that AT&T's 3.6 million iPhone activations for the same quarter, as you've no doubt noticed, much as it does also have the benefit of a much cheaper iPhone 3GS in addition to the iPhone 4. Verizon also said that demand was "strong" for its new LTE devices (including 260,000 HTC Thunderbolt activations), and that deployment of its LTE network remains on track, with it anticipated to be free in more than 175 markets by the end of the year -- in fact, that's in fact up a bit from the 147 figure we last heard. Head on past the break for the company's full earnings report.

Continue reading Verizon reports 'strong' Q1 earnings: $27 billion revenue, 2.2 million iPhone activations

Verizon reports 'strong' Q1 earnings: $27 billion revenue, 2.2 million iPhone activations fundamentally appeared on Engadget on Thu, 21 Apr 2011 10:27:00 EDT. Please see our terms for use of feeds.

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