iPhone activations at Verizon grew 44% in the second quarter of 2013, Reaching 3.9 million activations, beating analyst predictions of 3.5 million. The popular smartphone from Apple grabbed over half of all smartphones sales at Verizon.
Overall smartphone penetration increased from 50 percent last year to 64 percent this year.
Verizon reported modest 4.3 percent year-on-year revenue growth, reaching $29.8B in Q2 2013. Adjusted EPS growth (discounting gains from pension growth and similar) was stronger at 14.1 percent to reach $0.73, while postpaid ARPA (average revenue per account) was up 6.4 percent at $152.50.
Verizon did very nicely in the post-paid market, adding 941,000 of the profitable post-paid subscribers, up from 880,000 a year earlier, and 667, 000 new post-paid users in the previous quarter. A total of 1.04 million subscribers were added during the quarter, bringing Verizon’s total subscriber base to 100.1 million.
The company claims to be the industry leader in LTE adoption, saying 4G data accounted for 59 percent of total data traffic. Verizon activated 6.4 million LTE devices in Q2.