Verizon Making More Money

January 25, 2011

Verizon just released their quarterly earnings report, and it looks like Big Red is doing pretty well for themselves. This time last year the carrier was raking in $2.37 million, a number which was nearly doubled to $4.65 million last quarter. This could have a lot to do with the 872,000 new subscribers Verizon added, a number greatly exceeding the expected addition of 646,000. Those numbers could have a lot do with the stellar Android lineup available on VZW’s network coupled with big holiday phone sales.

Still, Wall Street isn’t so pleased with the figures. 54 cents a share just didn’t live up to the 55 cents per share expected, resulting in a slight drop in price of Verizon stock. We personally think they already make enough money charging people.