Verizon added 274,000 net new postpaid phone subscribers in Q3, up 13% over last year's figure

Verizon added 274,000 net new postpaid phone subscribers in Q3, up 13% over last year's figure
The third quarter earnings season is now here, and first out of the gate is Verizon. For the period covering July through the end of September, Big Red added 274,000 net new postpaid phone subscribers. That is a 13.2% gain over the 242,000 added during the third quarter of 2016. Overall, Verizon added 603,000 net new subscribers including 91,000 net new tablet users and 238,000 using other connected devices including wearables. At the end of the third quarter, Verizon counted 109.7 million retail postpaid and 5.6 million retail prepaid connections.

With a retail postpaid churn rate of .75%, it was the tenth consecutive quarter that the nation's largest carrier came in with a figure under .90%. The entire wireless business had a churn rate of .97%. 78% of Verizon's postpaid customers are now using an unsubsidized service plan, up from the 60% figure that the carrier reported for last year's Q3. 49% of postpaid customers were paying monthly for their handset by the end of the quarter.

Verizon Wireless took in $21.6 billion in revenue for the three month period, down 2.4% year-over-year. Operating income for the wireless business amounted to $7.6 billion for the third quarter, which worked out to an operating income margin of 35.2%.

source: Verizon

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14 Comments

1. PhoneCritic

Posts: 1337; Member since: Oct 05, 2011

Well I don't know how VZ is still getting customers as they nickel and dime you for every service and when it comes to bloatware are the worst. But I guess some people find their service very reliable, Which I must say when I was a subscriber to VZ, the service was rock solid. I just couldn't deal with the fees and taxes and charges for every little service. Good for VZ I hope they take those millions and continue to invest in their service and hire more american works at decent salaries

4. L0n3n1nja

Posts: 1511; Member since: Jul 12, 2016

I switched to Verizon from T-Mobile in 2012 because it was them or AT&T where I live to have coverage, T-Mobile only had roaming agreements in my region so I was stuck with 2G data while Verizon had 4G LTE. T-Mobile finally built towers here in the fall of 2015, and until a few months ago I had nearly a 150 mile drive to the nearest T-Mobile store. I tried T-Mobile less than a year ago, coverage is still horrible with no service in many buildings and none outside of town, even along the interstate. And I'm actually paying 32.50/line unlimited data on Verizon right now, even with tax it's cheaper than the $40/line plus $10/line fee to have HD video and hotspot like I get with Verizon already. Big Red has better coverage, great customer service, and is cheaper for me because of the plan I'm grandfathered into.

2. Godfather

Posts: 68; Member since: Oct 31, 2012

If they want to tripple those subscribers, they need to start or stop doing the following: 1) Stop "Verizon" branding any phone other than the iPhone. (ugly Verizon logo on back of flag ship phones) 2) Start using GSM (Only) 3) Lower your service fees and prices to compete. (You're not a luxury car brand) 4) Stop removing features from new Android phones and or stop adding bloatware. (This is also valid for other providers)

5. L0n3n1nja

Posts: 1511; Member since: Jul 12, 2016

Verizon is going all LTE for voice, text, and data. Roll out has been slow because they don't want to shut down the CDMA network leaving countless customers without a phone that works on the network. I think 2020 is when they end support for CDMA and old phones no longer function.

6. joeym2

Posts: 11; Member since: Dec 03, 2009

LTE is "all GSM". There is no Verizon branding on all flagship models from Motorola, Samsung, Google, and Apple. Not sure about HTC and LG. It's too bad the "Godfather" can't afford a "luxury brand".

8. Godfather

Posts: 68; Member since: Oct 31, 2012

lol.. I have an iPhone 8 Plus, & Samsung S8 currently (Soon to buy iPhone x). I drive a Porsche & a Maserati. My time pieces of choice are AP and Rolex which I have a small collection of. I do appreciate the finer things in life but I do also want to see "value" in what I pay for. Just because I refuse to fuel a stupid company for not changing (adapting) is no reason for me to have to pay a premium for.

10. tuminatr

Posts: 1092; Member since: Feb 23, 2009

Then you know neither one of those has a carrier logo on it. As for the difference in cost its a very small amount. A beyond unlimited with Verizon is $85 plus tax t-mobile is $80 for the comparable plus plan so even with taxes the difference is $10 to $12 per month. I spent more than that on lunch today

12. Omarc07

Posts: 574; Member since: Nov 12, 2012

we don't care what you drive . Yes we don't CARE . But if you really do drive those cars and then stop complaining about verizons price and just suck it up and pay .

13. tuminatr

Posts: 1092; Member since: Feb 23, 2009

GSM is old 2g Voice technology. GSM uses a TDMA transport mechanism and supports 9600bps data transmission. Currently “GSM” refers to an alliance of carriers rather than a specific technology. For 4g GSMA has decided on LTE. If you want to read more about the GSM alliance go to their websitewww.gsma.com Verizon operates a CDMA 3g network and a LTE network. Verizon is a full member of the GSMA just like T-Mobile and AT&T. Verizon has plans to turn off the CDMA in 2020. Once Verizon has turned off its 3g CDMA and T-Mobile has turned off its 2g GSM the technological differences between all the USA providers will come down to what frequency they operate at not the type of network. With a caveat some frequency’s use LTE FDD some use LTE TDD but both are part of the LTE standard. It's very important for everyone to know is anyone with a newer smartphone say iPhone 5 or newer on Verizon is using their LTE network almost exclusively some newer phones you can choose LTE only like the Pixel and Pixel 2 or phones like the Essential and HTC U11 don’t have CDMA and work on Verizon’s network. ATT uses just a LTE network and has turned off their GSM 2g network. I read somewhere T-Mobile still offers 2g and plans on turning off its GSM network in 2019. So, don’t say Verizon should use GSM exclusively when everyone is turning off their GSM networks worldwide and replacing them with LTE.

11. Omarc07

Posts: 574; Member since: Nov 12, 2012

Obviously you haven't used their latest phone's, I got a Verizon GALAXY S8 PLUS and guess what ? No VERIZON BRANDING AT ALL..... only BRANDING it has is the " Samsung " one . And bloatware? It only came with a few Verizon apps which I uninstalled already . So it's like if I didn't even have a Verizon phone no BRANDING and no more bloatware . So i dont believe u supposedly have a S8 because like the other guy said you would know it doesn't have a VERIZON BRANDING... none of their latest phone's do... Motorola, LG etc.. none have Verizon branding .

14. tuminatr

Posts: 1092; Member since: Feb 23, 2009

Exactly the carrier customization that ATT or T-mobile would do too. And if you dont want that buy a pixel or Iphone

3. jeroome86

Posts: 2314; Member since: Apr 12, 2012

So sorry for those people. Live and learn they say.

7. erolva35

Posts: 20; Member since: Oct 18, 2017

I think it's because they may have had a loss the quarter prior when they didn't have unlimited and lost customers and now it looks like they gained. I'm most likely wrong lol but that might be what happened.

9. azuleyez

Posts: 20; Member since: Dec 07, 2012

Oh fantastic! More congestion on the most congested network in the history of congestion! I wonder how many of those people utilize Verizon's 14-day remorse period to switch back to AT&T or T-Mobile? >-D

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