iPhone Accounted for a Majority of Verizon's Smartphone Sales

Verizon revealed that the iPhone accounted for a majority of its smartphone sales last quarter in an earnings call today, reports MacRumors.

The company activated 3.2 million iPhones during the quarter and 6.3 million smartphones total. That number is down from 4.3 million in the previous quarter. Notably, the carrier sold 2.9 million LTE devices during the quarter.

Here's an overview of their earnings report...


HIGHLIGHTS:
Consolidated
● 59 cents in diluted earnings per share (EPS), compared with 51 cents per share in 1Q 2011 - a 15.7 percent increase.
● $6.0 billion in cash flow from operating activities, up $922 million compared with 1Q 2011.
● 4.6 percent year-over-year quarterly revenue growth.

Wireless
● 7.7 percent year-over-year increase in service revenues in 1Q 2012; 8.9 percent year-over-year increase in retail service revenues; highest growth rate in three years; data revenues up 21.1 percent; 28.6 percent operating income margin and 46.3 percent Segment EBITDA margin on service revenues (non-GAAP).
● 734,000 retail net customer additions, excluding acquisitions and adjustments, includes 501,000 retail postpaid net customer additions; continued low retail postpaid churn of 0.96 percent.
● 93.0 million total retail customers; 88.0 million total retail postpaid customers.

Wireline
● 193,000 FiOS Internet and 180,000 FiOS Video net additions, with increased sales penetration for both products; net increase of 104,000 broadband connections from 4Q 2011; FiOS Internet customers now total more than 5 million.
● 8.1 percent year-over-year increase in consumer ARPU; 63 percent of consumer revenues generated by FiOS.
● 11.6 percent increase in strategic services revenues, representing 51 percent of global enterprise revenues.

Read More [via MacRumors]