Following AT&T’s impressive performance in the first quarter of this year, we’ve been anxiously awaiting Big Red’s numbers to see how the nation’s largest carrier performed in Q1. The numbers are in as of this morning and Verizon’s performance was nothing short of impressive. Revenue in the quarter slid in at $26.6 billion — an 11.6 percent climb from the same quarter last year — and cash flow came in at $6.4 billion, up almost 20 percent YoY. Subscriber numbers were impressive as well: Starting with wireless, Big Red is now home to 86.6 million wireless customers. Verizon netted 1.3 million new subscribers excluding the Alltel acquisition, beating AT&T by about 100,000. Who needs the iPhone? Wireline business growth was solid as well, as the company pulled in 299,000 net new FiOS TV customers and 298,000 net new FiOS Internet customers.
via Boy Genius Report by Zach Epstein on 4/27/09