Verizon adds 1.53 million net new subscribers in latest quarter
For the quarter, Verizon Wireless had $21.8 billion in revenue, a 7% increase from the previous year. At $18.4 billion, service revenue increased 4.8% year-over-year. Retail service revenue grew 4.6% year-over-year to $17.6 billion. At $161.24, Average Revenue Per Account (ARPA) rose 3.5% over last year's third quarter.
At the end of the quarter, Verizon Wireless had 35.4 million postpaid accounts at the retail level, up 1.3% year-over-year. Each account has on average 2.82 lines per account, up 3.7% from last year. During the third quarter, 457,000 postpaid phones were added, along with 1.1 million tablets. As the third quarter came to a close, smartrphones accounted for 77% of the carrier's phone base. That is up sequentially from the 75% reading seen at the end of Q2. Retail postpaid churn came in at 1%, up from .94% in the second quarter and .97% year-over-year. Retail churn amounted to 1.29%, up 4 percentage points from the second quarter and 1 percentage point year-over-year.
Verizon added AWS-1 spectrum its LTE capacity. This XLTE enhanced LTE pipeline can now be found in more than 400 markets nationwide. Also during the period, Verizon added a number of new devices to its lineup including the HTC One Remix, LG G Vista, Kyocera Brigadier, HTC One (M8) for Windows, Apple iPhone 6, Apple iPhone 6 Plus, Motorola Moto X, Samsung Galaxy Tab 4 10.1 and the Samsung Galaxy Tab S 10.5.