Verizon reports Q3 2012 financial results: $29.0 billion in revenue

Verizon today reported its financial results for the third quarter of 2012, announcing a revenue of $29.0 billion. The press release focused on Verizon Wireless, which activated 6.8 million new devices in the quarter, 3.1 million of which were iPhones. The carrier also revealed that 21% of its iPhone activations were iPhone 5 activations, accounting for about 650,000 units in the last few days of the quarter.

“In the third quarter, Verizon continued to deliver double-digit earnings growth and strong cash generation, and we remain solidly on track to meet our financial objectives for the year,” said Lowell McAdam, Verizon chairman and CEO.б═ “With our 4G LTE network advantage, well-received Share Everything Plans and unmatched product portfolio, Verizon Wireless continues to do an outstanding job of balancing growth and profitability.б═ Wireless achieved record profitability in a quarter in which we reported the highest number of retail postpaid gross and net adds in four years.”