(NICK UT/ASSOCIATED PRESS)

The company also announced that longtime CEO Ivan Seidenberg will step down — though he’ll stay on as chairman.

When asked about the company’s expectation that cellphone sales would go up 50 percent this year, incoming CEO Lowell McAdam gave out a little insight into when Verizon is expecting the next iPhone, when asked about the company’s expectation that cellphone sales would go up 50 percent this year.

“We are probably what I would view as maybe a quarter behind what we had talked about in January, primarily because we expected an iPhone 5 refresh sometime this summer. We don’t know when the next one is going to come out. You will have to ask Apple that. But we expect that probably sometime in the fall, and I think you will see a significant jump there when we get to that point.”

Verizon reported a solid quarter, with $27.5 billion in revenue, though it had fewer iPhone activations than rival carrier AT&T.

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