Verizon Wireless Q4 2004 statement

Jan 27 2005 - 08:48 PM ET | Verizon Wireless

Verizon Wireless today announced its fourth-quarter 2004 earnings. The company did a good job keeping pace with Cingular Wireless, equaling the number of new customers.

Highlights of the earnings statement include:

• Net gain of 1.7 million subscribers,up 13.5%
• $6.5 billion in revenue, up 20.5%
• 1.43% churn rate (customer turnover), record low
• Average revenue per customer increased 3% to $50.32
• Data revenue of $359 million (3 billion text messages and 32.6 million picture messages)

Next week Verizon Wireless will launch VCAST, a 3G media streaming service. Along with the launch, Verizon Wireless will add serveral EV-DO enabled handsets to its sales lineup.