Verizon’s first quarter results are in, and it saw some serious growth. Verizon as a whole saw $30 billion in revenue, but even with their substantial non-cellular businesses, Verizon Wireless accounted for a whopping $20.9 billion of that income. That’s an increase of nearly 7% from this quarter last year, though growth through their retail outlets was slightly lower.
The wireless business has proven profitable for Verizon, with a profit margin of 35%. That too is an increase, up from 32.9% year-over-year. That’s $7.3 billion, for those keeping track at home. The jump comes in no small part thanks to Verizon’s $130 billion purchase of the remaining 45% share of Verizon Wireless that was held by Vodafone. I guess that how they can afford to spend billions on lobbying.