Verizon's Big iPhone Quarter
NEW YORK (TheStreet) -- Verizon
Analyst Walter Piecyk from BTIG noted that Verizon activated 3.89 million iPhones during the quarter, up 25% from last year.
The iPhone continues as Verizon's most popular smartphone, accounting for just slightly more than 50% of contract activations during the quarter. During the quarter, Verizon added 1.1 million net retail connections, including 927,000 net retail postpaid connections, with a postpaid churn of 0.97%.
During the quarter, Apple announced the new iPhone 5s and iPhone 5c, which have performed exceptionally well. In the phones' opening weekend, Apple announced it sold more than 9 million new iPhones and raised fiscal fourth-quarter guidance as a result.
We'll get the full iPhone numbers when Apple reports on Oct. 28 after the bell. Analysts are expecting Apple to report earnings of $7.88 a share on revenue of $36.76 billion, according to those surveyed by Thomson Reuters.
Shares of Verizon jumped in pre-market trading Thursday, gaining 2.9% to $48.61, while Apple was slightly higher, trading at $501.18.
--Written by Chris Ciaccia in New York
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