Verizon adds 539,000 net customers in the first quarter, strong gains across the board

Verizon adds 539,000 net customers in the first quarter, strong gains across the board
In what seems to be an established trend in recent tech and carrier reports, Big Red posted gains across the board of its operations, with the first quarter 2014 figures including the impact of Verizon’s acquisition of Verizon Wireless from Vodafone in February.

Revenues from wireless were $20.9 billion, and average revenue per account rose to $159.67-per-month. Verizon also reported that it added 539,000 net retail subscribers for the quarter.

Verizon’s total wireless customer tally is 103.3 million, with 97.3 million being postpaid connections. Subscriber losses were low, with churn measured at 1.07%, which is the same as what AT&T reported a couple days ago. Like its primary competitor, Verizon also saw gains in its wireline based businesses, with 98,000 new FiOS internet customers with 57,000 new FiOS video customers.

While Verizon had to cut a fat check to buy back the 45% of Verizon Wireless it did not own from Vodafone, no one doubted whether Big Red would start making money off the deal right away. Verizon CEO Lowell McAdam stated, “We are already seeing the expected earnings accretion from the transaction.”

source: Verizon

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