Verizon posts $1.83 billion Q2 profit on $28.6 billion in sales, smartphone penetration hits 50%

. Verizon Communications (VZ) on Thursday reported its financial results for the second quarter of 2012. The nation's top carrier reported earnings of $0.64 per share, or a $1.83 billion profit, on sales of $28.6 billion. The results were in line with analysts' estimates, and up 13% from the $1.61 billion Verizon earned in the same quarter last year. The company managed record-high wireless margins as well as record-high average revenue per user (ARPU), and smartphone penetration among its postpaid wireless subscribers has now reached 50%.

Boy Genius Report , Verizon posts $1.83 billion Q2 profit on $28.6 billion in sales, smartphone penetration hits 50%, Verizon posts $1.83 billion Q2 profit on $28.6 billion in sales, smartphone penetration hits 50%