Verizon posts Q2 results

Verizon Wireless announced its earnings and subscriber results for Q2, 2008. The company reported net subscriber additions of 1.5 million, which it claims is the highest figure in the U.S. market. This brings its subscriber base to 68.7 million strong, keeping it in the number two position in terms of subscriber base. The company also reported a record low churn rate of 1.12 percent, a figure that indicates that the company's subscribers are, as a whole, satisfied with its service.

Verizon Wireless reported total quarterly revenue of US$12.1 billion, an 11.8% gain versus Q2 2007, and said that data revenue is up 45.3% from the same quarter in the prior year, coming in at $2.6 billion. Verizon claims that its customers sent almost 70 billion text messages and 1.4 billion picture/video messages during the quarter. That's over 780 million messages per day, or a bit over 9,000 messages per second on average.