Verizon on Thursday reported its third-quarter performance, which continues to be dominated by smartphone sales on postpaid contracts. The company noted that its Q3 iPhone sales reached 3.1 million units, which includes 650,000 iPhone 5s
, while Android phones maintained a slight lead with sales of 3.4 million handsets. The rival platforms together represent 6.5 million out of 6.8 million overall smartphone sales in Verizon's third quarter.
The iPhone 5 is now included in Verizon's LTE offerings, which now account for more than 16 percent of all devices on the company's network. The company's LTE network is said to serve more than 250 million potential customers in 419 individual markets.
"Wireless achieved record profitability in a quarter in which we reported the highest number of retail postpaid gross and net adds in four years," said Verizon CEO Lowell McAdam in a statement.
Verizon Wireless fetched more than $16 billion in service revenues, up 7.5 percent over the same period last year, with total revenues up by 7.3 percent to $19 billion. The Share Everything contracts are credited with helping boost the postpaid average revenue per account (ARPA) by 6.5 percent to $145.
Verizon's total operating revenues were up by 3.9 percent to $29 billion for the quarter, and the company expects to meet its revenue and profit targets for the year.