Verizon Wireless revenue tops $10.3B

Verizon Wireless posted a strong first quarter with 1.7 million net new subscribers, an industry low churn rate of 1.08 percent and revenue of $10.31 billion. The carrier's subscriber base now totals 60.7 million. The revenue increase marks a 17 percent growth rate year-on-year, and tops AT&T's wireless unit's $10 billion revenue intake for its Q1.

Verizon Wireless' ARPU for Q1 rose 2.8 percent to $50.73 per month. Mobile data revenues grew 80 percent year-over-year to $1.6 billion, which makes for 17.4 percent of total service revenues. Retail data ARPU increased 54 percent to $8.95 and retail data customers totaled 36 million at the end of March. VZW users sent or received 22.3 billion SMS and 450 million MMS messages and dowloaded 106 million pieces of content.

For more on Verizon Wireless' Q1:
- see this press release from the carrier