Verizon reports strong growth in Q4 2009 earnings report

The number one wireless carrier in the country is still chugging along looking extremely healthy amidst fierce competition and when most of the country is still walking off the economic downturn. They’re growing at a decent pace which doesn’t look like they’ll be relinquishing their titles as number one after they reported their Q4 2009 earnings report. Verizon Wireless, which is owned by Verizon Communications and Vodafone, reported revenues of $13.2 billion; which equates to a 22.5 percent increase over the same period last year. Those figures were aided by the estimated 2.2 million total net customer additions in the quarter which also includes the 1.2 million new retail customers. Although gaining more customers is a good thing, it’s actually countering the fall of its average monthly service revenue per user (ARPU) – it decreased 2.2 percent versus last year to $50.75. Standing at a staggering 91.2 million customers, a 26.6 percent increase from its fiscal 2008 report, Big Red’s recent campaigns against AT&T helped aid their wireless division in performing extremely well. Unfortunately the same cannot be said about the other divisions; Verizon as a whole reported a $653 million net loss for the quarter.

source: Verizon via Mobileburn