Verizon Communications Inc. (NYSE: VZ) Monday reported first-quarter adjusted earnings of $1.74 billion, or 61 cents a share, a gain of 9.8 percent, in line with analyst expectations, thanks to gains in wireless, and a continuing decrease in churn rates.
The company added 1.5 million net wireless customers, while churn was 1.19 percent, far below the 1.7 percent churn numbers posted in the first quarter by AT&T (“ATT Profits Rise as it Keeps Churn in Check,” April 24) and other carriers.
However, Verizon lost 8.2 percent of its wire line customers, as an increasing number of customers opt for Voice over Internet Protocol (VoIP) or drop wire lines in favor of wireless phones.
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