Verizon Q3 solid: 4.5 million LTE devices sold

Verizon Q3 solid: 4.5 million LTE devices soldVerizon recently reported a notably strong third quarter, with its quarterly earnings witnessing a 4 percent year-on-year increase to 56 cents per share, on its revenue of $29 billion.

The non-GAPP earnings reported by the bigwig US wireless carrier for the third quarter stood at 64 cents per share, which was along the lines of the expectations of the Wall Street analysts.

The third-quarter figures posted by Verizon on the `subscribers' front showed that the carrier added nearly 1.8 million retail subscribers, of which 1.5 million were postpaid customers. In all, the number of retail postpaid connections of the carrier during the reporting quarter was 90.4 million.

With Verizon now having the high-speed 4G network available to 250 million people, the company's Chief Financial Officer Fran Shammo said during the earnings conference call that out of the 3.1 million iPhone activations by Verizon in the third quarter, 21 percent LTE; and 3 million of the carrier's 3.4 million Android phone activations were 4G LTE.

Noting that, in the near future, Verizon visualizes "a great deal of new product development activity in M2M," chiefly in health care and energy, Shammo said: "We are also collaborating on an innovative video roadmap with the cable companies as part of our technology joint venture."