“The New York telecommunications company has done an admirable job of keeping pace with AT&T, which has an exclusive deal to sell the iPhone, but finally faltered amid record sales of the Apple device, as well as heightened competitive pressure on the low end. The number of new contract customers fell by more than 50% from a year ago,” Cheng reports.
“Verizon’s third-quarter earnings, meanwhile, fell more than 30% to $1.18 billion, or 41 cents, from a year-earlier profit of $1.67 billion, or 59 cents a share,” Cheng reports. “Excluding charges, per-share earnings fell to 60 cents from 66 cents, but topped the average analyst estimate from Thomson Reuters of 59 cents a share. Revenue increased 10% to $27.27 billion, ahead of the Thomson Reuters estimate of $27.17 billion. Assuming Alltel, the regional wireless operator Verizon acquired in January was part of Verizon a year earlier, the increase would have been 0.6%.”
Cheng reports, “Pressure from low-end wireless providers offering cheaper plans without any contract commitments, as well as AT&T and the iPhone, have steadily cut into its business. Total wireless growth fell to 1.3 million from 2.1 million a year ago.”
Read more in the full article here.
MacDailyNews Take: Don’t worry, Verizon’s LG Voyager, HTC Touch, BlackBerry Bold, Samsung Omnia, BlackBerry Storm, Moto Droid will staunch the bleeding.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
Verzion is really pushed for sure. Check out what is said to be Verzions actually 3G map.
http://forums.macrumors.com/showthread.php?t=805564
Okay. I really want to know how Fred Mertz gets all the advanced notice. Ethel never could get him to do anything!
Will “staunch” the bleeding? MDN I think you meant “stanch the bleeding”, unless of course you were saying Verizon’s new droid phone will make the bleeding more steadfast in principle.
Hey! I guess that works too.
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“Don’t worry, Verizon’s LG Voyager, HTC Touch, BlackBerry Bold, Samsung Omnia, BlackBerry Storm, Moto Droid will staunch the bleeding.”
They won’t but their adapted iPhone might.
Well that explains alot.
There’s a map for their financial future too…
Hmmm, I wonder if that could be a little motivation to talk to Apple
Verizon’s new commercial could say:
“iDon’t know why we rejected the iPhone”
“iDon’t have a clue how we loss 30% profit”
“iDon’t want to talk about it”
Ummm….also isn’t there an iPhone app that makes the Light Saber sound?
I can here that sound cutting off the “Droids” head…..ha ha couldn’t resist.
Had to provide a laugh today ya’ll!
HMCIV,
Your Mac has a built-in systemwide Dictionary. Use it.
Either staunch or stanch is correct:
stanch 1 |stôn ch; stän ch | (also staunch)
verb [ trans. ]
stop or restrict (a flow of blood) from a wound : colleagues may have saved her life by stanching the flow | figurative the company did nothing to stanch the tide of rumors.
• stop the flow of blood from (a wound)
@HMCIV
staunch is a variant spelling of stanch, meathead. Look things up yourself before correcting others, huh?
Another “i Don’t” ad
AT&T;: “I have and exclusive deal with the iPhone”
Verizon: “I Don’t”
In defense of HMCIV,
“stanch” was the original, correct spelling.
Sloppy common usage has mad “staunch” acceptable.
So you can all consider yourselves correct, and have that warm fuzzy feeling inside. Everyone wins!
Isn’t the “everyone wins, no one loses” philosophy of our modern schools wonderful?
Wow, the grammar Nazis are really cranky this morning.
I can’t wait to see how many that are negative on Verizon today will be clamoring for their service once the Iphone becomes available on their network. Website critic included.
@ qka
“Sloppy common usage has mad [sic] “staunch” acceptable”
…yes — sloppy usage that goes back to the 12th century! According to oed.com…
Indeed, staunch is correct.
English is so much fun.
“Indeed, staunch is correct.
English is so much fun.”
Yep . . .favour/favor, color/colour. We can go on.
I guess the grammar/spell checkers should be arguing about the differences between English vs. American.
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They get what they deserve.
@ Lexicographer, DX
Hey what do ya know! Saying stupid stuff really boosts my popularity on these comment forums.
” width=”19″ height=”19″ alt=”grin” style=”border:0;” /> Maybe that’s Rob Enderle’s secret. I wonder if he needs an intern.
Now if only someone could give me a synonym for “taking comments waaaaay too seriously”</b>…
P.S. – qka I appreciate your stanch support as always!
The headline is very misleading.
The reason for the shortfall has nothing to do with th iPhone. moat is from integrating the Allitel purchase into their company, some is related to loss of landlines and such.
MDN should at least be truthful with the headlines.
How far did Verizon’s earnings fall?
There’s a graph for that.
It should be spelled ‘stonch’.