Verizon Wireless today announced its Q2 results for 2012, revealing that total revenues were $18.6 billion, resulting in a income margin of 30.8%. Overall, revenue is up 7.4% compared to the Q2 ‘11, and the income margin has also reached a record high. Tthe company added 1.2 million retail customers in the second quarter, with 888,000 of those being postpaid. That bumps the total number of Verizon Wireless customers up to 94.2 million, a 4.9% increase on last year's numbers.
The company has also hit an important milestone, with 50% of its customers now using smartphones, up from 47% last quarter. Churn rates have also dropped to 0.84%, the lowest rate in four years for the company, so clearly they’re doing something right and hanging on to customers.
Verizon is attributing the results to its LTE network, now reportedly available to over 230 million people in 337 markets, as well as various device launches. Verizon launched several new MiFis, plus the Droid Incredible 4G LTE and Samsung Galaxy S III. The introduction of the Share Everything plan a few weeks ago, plus the spectrum exchange deal with T-Mobile, should make for an interesting Q3.