Northern,WI  10/18/2012 (BasicsMedia) – Verizon (VZ) is out on the tip of the board and hanging ten. The waves are huge and the sun is bright in the land of Mobiletopia.

Verizon has posted a 16% upswing in quarterly profit. This was made possible by the ever increasing demand for mobile services which include texting in the form of higher data usage. Another contributor to the glowing quarterly number has to do with selling Apple’s (APPL) latest iPhone, seems the public just can’t get enough Apple’s in their diet.

The iPhone and other smartpohones have created a huge and growing market for data consumption by being able to surf the web at the drop of a hat and our love of everything video. Sprint Nextel, AT&T and Verizon Wireless are soaking billions of dollars into upgrading their existing networks, the race to finish 4G is on.

Market analysts are saying that by the end of this year 1.9 billion cellphones will have been sold. Of that amount 35 percent will be smartphones. Worldwide it is estimated that almost 25 percent of the people already own smartphones and here in the United States we are having a love affair with the tiny little handheld devices, much like we have had with automobiles. We almost double the world average of smartphone ownership with a rising penetration rate of somewhere between 50 and 55 percent. This is according to research done by Gartner.

Over half the people here have smartphones, that is a lot of love.

Verizon has said they are on track for their 2012 goals and that capital expenditures are going to come in around $16 billion which will be less than the previous year.

In the third quarter Verizon’s profit was $1.59 billion coming out to $.56 a share. This compares to $1.37 billion or $.49 a share in the year ago quarter. Revenue also rose to $29 billion up from  $27,91 billion in the year ago quarter, analysts were expecting $28.96 according to Thomas Reuters I/B/E/S.

Verizon Wireless is the big  honcho, number one mobile provider posting a 7.5 percent quarterly increase in service with revenue coming in at $16.2 billion.

Vodafone Group Plc.  (VOS.L) has added 1.8 million new subscribers during this quarter compared to 882,000 from the year ago quarter. Vodfone has a relationship with Verizon Wireless. Vodafone is a British multinational telecommunications company which owns and operates networks in over 30 countries and has partner networks in over 40 additional countries.

Verizon Chief Executive Lowell McAdam recently said, “Verizon Wireless has achieved record profitability in a quarter in which we reported the highest number of retail postpaid gross and net adds in four years”.

Get the suntan lotion out, I think its time to hit the beach.

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