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Verizon posts first quarter numbers, gets bested by AT&T's

Chris Ziegler

Verizon may have nearly six million more wireless customers in total than its closest rival, AT&T -- 92.8 million to 87.0 million, to be exact -- but that doesn't necessarily mean it's got the healthiest financials, as evidenced by the Q1 '10 numbers posted this week by the two companies. AT&T came through yesterday with $2.5 billion in income that would've actually been $3.1 billion had it not been for a one-time charge related to employee healthcare; Verizon, meanwhile, clocked just $400 million on revenue of $26.9 billion after $962 million in various charges (including one related to -- you guessed it -- healthcare). That compares to $1.6 billion in income in the same quarter last year, but it's still admittedly a good deal rosier than the net operating loss it posted in the last quarter after charges had been applied. For what it's worth, Big Red is quick to accentuate the positive by pointing out its 1.5 million organic net wireless adds and a significant increase in data revenue year over year -- 26.4 percent, in fact, a number for which it probably has the Droid to thank.

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