Verizon adds 1.3 million new postpaid subscribers in Q3

Verizon adds 1.3 million new postpaid subscribers in Q3
Verizon Wireless added 1.3 million new postpaid subscribers during the third quarter. Postpaid subscribers, the most valuable kind, now total 105.8 million, up 4.9% in the quarter. Revenues were up 5.4% to $23 billion. While service revenue was down 4.1% to $17.6 billion, equipment revenue rose 72% to $4.3 billion, as Verizon customers used installment plans to purchase the latest handsets. In fact, 5.6 million phones were activated last quarter using installment plans.

Overall, Verizon has 110.8 million retail connections. The carrier is doing away with subsidized equipment purchases that are linked to two-year contracts. Currently, 30% of Verizon's postpaid customers are on an unsubsidized service plan. That number should rise every year.

Looking ahead to next year, Verizon is warning investors that 2016 earnings might be stuck at 2015 levels. One of the reasons for the stall in earnings has to do with the changes being made to Verizon's wireless operations. Eventually, more of Big Red's subscribers will be weaned off subsidized handsets and two-year contracts, which will help Verizon pad its bottom line to much higher levels.

source: TechCrunch

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9 Comments

1. ILikeBubbles

Posts: 525; Member since: Jan 17, 2011

HOW?!?!

2. Bernoulli

Posts: 4361; Member since: Sep 01, 2012

I doubt Verizon will be stuck at 2015 levels in 2016, people go for Verizon regardless their cost.

3. Tziggy14

Posts: 624; Member since: Sep 02, 2014

People going for Verizon is like going for iPhones. You just can't beat their coverage despite their high data prices and bills.

4. Hexa-core

Posts: 2131; Member since: Aug 11, 2015

but... the iPhone's iOS coverage doest beat Android. Meh

5. troutsy

Posts: 383; Member since: Feb 17, 2012

I don't know... as much as people whine and complain about their prices, stories like this make me wish VZW would raise the price a little. I work pretty hard to keep my VZW bill as low as possible ($104/mo for 10GB/2 smartphones). I review moving my lines to another carrier about every 6 months, and in 3 years haven't found a justifiable savings to switch.

7. Verizon7

Posts: 7; Member since: Sep 03, 2015

Verizon wireless is overrated it doesn't hold 4gLTE it always drops to 3G and 1x. ATT on the other hand no matter where you go you get and it holds the 4gLTE

9. SuperAndroidEvo

Posts: 4888; Member since: Apr 15, 2011

Really??? Cause my Google Nexus 6 has never dropped to 3G or 1x until I went to the Cherokee Reservation. That's the only time I have ever had issues. I have been to the west coast, east coast, south, & mid-west... I always had strong 4G LTE service...

8. SuperAndroidEvo

Posts: 4888; Member since: Apr 15, 2011

Yeah that's a lame analogy. I have Verizon Wireless because it's the best service here in the USA hands down. iOS is a boring dry & a very stale OS. Android's Marshmallow is the best mobile OS in the world. Your iOS reference is way off. Silly at best. SMH

6. natypes

Posts: 1110; Member since: Feb 02, 2015

Yet those greedy fuks still felt the need to up my bill $20 b/c I'm on unlimited data plan.

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