Verizon Wireless 3Q06 results

Verizon Wireless reported $9.9bn in 3Q06 revenues, up 18%, of which service revenues reached $8.5m (+16.5%). The operating income margin reached its highest level ever at 26.2% ($2.6bn), and EBITDA margin was 40.5%. ARPU grew almost 1% to $50.6. Customer churn came in at 1.2%. It currently has about 31m data customers, up 43%, and data services revenues amounted to $1.2m, up 100%. Verizon Wireless outnumber Cingular in both new additions in the quarter (1.9m vs 1.4m), and revenues ($ 9.9bn vs $9.6bn). Cingular leads the US market with 58.7m subscribers, ahead of Verizon with 56.7m and Sprint Nextel with 51.9m.