Verizon loses 36,000 net postpaid phone subscribers in Q3

Verizon loses 36,000 net postpaid phone subscribers in Q3
It was not a great quarter for the nation's largest carrier. Verizon reported that it lost 36,000 net postpaid phone subscribers from July through September. Wells Fargo had estimated that Big Red would report that it added 92,000 postpaid phone subscribers during the period. Churn for the category rose 2 basis points (.02%). According to Deutsche Bank Markets Research, this is the first time in company history that Verizon reported losing postpaid phone subscribers during a quarter.

Verizon also fell just shy of Wells Fargo's wireless service revenue estimate of $16.8 billion for the period. The actual amount reported was $16.7 billion, which was a 5.2% decline year-over-year. Altogether, the company had 442,000 net postpaid additions, 33% less than Wells Fargo's estimate of 657,000 net postpaid adds.

As the largest U.S. wireless operator, Verizon is a target for carriers like T-Mobile (third largest in the U.S.) and Sprint (fourth largest in the states). The company recently started an aggressive ad campaign of its own. Starring actor Jamie Foxx, the spots call T-Mobile and Sprint "cut-rate" networks.


Being a huge conglomerate, Verizon overall had revenue of $30.9 billion, less than the $31.1 billion expected on Wall Street. Adjusted earnings came to $1.01 a share, topping the 99 cents a share that analysts were expecting. Those numbers include wireless, cable, and all of the company's business interests.

source: FierceWireless

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22 Comments

1. tedkord

Posts: 17463; Member since: Jun 17, 2009

Good. Verizon needs to feel some heat, so they'll step up their customer service and return to unlimited data.

4. Mxyzptlk unregistered

I can't believe it. A post from tedkord that I agree with. I agree though. Verizon is too expensive for what little value they offer. And they add too much bloat to their products.

8. Planterz

Posts: 2120; Member since: Apr 30, 2012

Verizon's network/coverage is the only thing they have going for them. In the coming years they'll have to rework their services and plans to be competitive to T-Mobile and even Sprint. 36000 customers is a small but not insignificant amount to lose, and that number is bound to increase. Unlimited data with Verizon is extremely unlikely to happen, but they'll be forced to change their plans to include more data for less money, and eliminate fees for overages and offer throttled speeds once limits are met. Nobody likes getting f*cked in the ass for $15 because some app auto-updated and put them over their limit, and this "PopData" nonsense won't win anybody over.

14. hybridxclusiv

Posts: 17; Member since: Oct 10, 2014

about 5-7 yrs ago they used to have truly unlimited 4G LTE, it didn't last for more then a year due to people abusing it and they claimed they were loosing money. so yea they won't reintroduce unlimited data ever again bc verizon is severely money hungry, that pop data bs is a joke. i agree with planters and tedkord, the only good thing going for verizon is their network/coverage, everything else is sh*t with them. I'm with them and t-mobile as well, and imo has more features n cares more about their customers then getting more money in their pockets.

15. tedkord

Posts: 17463; Member since: Jun 17, 2009

They will if enough people leave them for other carriers with it. Verizon is no different than any other company - they have to compete to survive.

11. Scott93274

Posts: 6040; Member since: Aug 06, 2013

So when are you going to drop them?

13. Planterz

Posts: 2120; Member since: Apr 30, 2012

To whom are you speaking? I dropped Big Red a few years ago. First phone was through Cricket, and it sucked balls, so I went to Verizon. Verizon sucked balls, so I went to AT&T because the Sony Ericsson 805 was awesome. Until it broke and they gave me a SE X10. But this was after AT&T discontinued their unlimited. Went back to Verizon because I had a sh!t signal at work with AT&T, but this was after Verizon gave up their unlimited data too, Switched to T-Mobile the day my Verizon contract was up, borrowing a phone from a friend for a week or so, and after getting a warranty replacement Razr Maxx HD (for a Razr Maxx that was no longer in stock), I sold the replacement on eBay for $100 more than I would have gotten for the Razr Maxx, so I gotta thank them for at least that. Ironically I had to relist it because I said that it didn't have Flappy Bird (remember all that crap?), and eBay cancelled it because I used the words "Flappy Bird". Dips**ts. I, admittedly, am one of those 3% assholes that uses way too much data from T-Mobile. I don't host a server or anything, I just stream and download a ton of stuff. If I were still with Verizon, I'd owe them tens of thousands of dollars. Maybe even six figures.

20. Scott93274

Posts: 6040; Member since: Aug 06, 2013

I was talking to the person I hit "Reply" to. Last time I heard Mxyzptlk, he was using Verizon. I used to have Verizon, but I gave them up in February and moved to Project Fi. Signal is strong for the most part, except in my office at work, but my office is practically a concrete bunker of sorts so that's to be expected. So far this year, I've saved over $400 after switching to Fi, I'm pretty happy about that.

21. Mxyzptlk unregistered

You were talking to me?

22. Mxyzptlk unregistered

When I can no longer use my unlimited data.

12. BattleBrat

Posts: 1476; Member since: Oct 26, 2011

I have verizon with unlimited data and I agree, T mo pretty much matches them in LA

6. CreeDiddy

Posts: 2275; Member since: Nov 04, 2011

Customer service has been great for me over 12 years

10. Acdc1a

Posts: 477; Member since: Jan 21, 2016

It's called Stockholm syndrome. It may take years of therapy but you CAN beat it.

2. jeroome86

Posts: 2314; Member since: Apr 12, 2012

Good to hear. Come on people. Drop this crooked carrier. You can do it.

3. Arch_Fiend

Posts: 3951; Member since: Oct 03, 2015

See Google, this is why VZW shouldn't be the only carrier selling your Pixel phones.

5. CreeDiddy

Posts: 2275; Member since: Nov 04, 2011

I smell unlimited data about to happen...lol

7. Planterz

Posts: 2120; Member since: Apr 30, 2012

You smell something that came from the south end of a north-bound cow.

16. tedkord

Posts: 17463; Member since: Jun 17, 2009

Nice thought, but I doubt it this soon. A few more down quarters, especially large down quarters, and maybe...

9. talon95

Posts: 1004; Member since: Jul 31, 2012

I'm rocking free Gogo on my flight and will have unlimited 4G in Argentina no extra charge from T-mobile. Verizon doesn't even come close. We all saw this coming.

17. Foxgabanna unregistered

T mobile is great and all, but I think AT&T really has their services together. Talk outstanding coverage inside metropolitan cities and out in the boonies. Their uverse service is awesome too.

18. palmguy

Posts: 986; Member since: Mar 22, 2011

The goliath panics. :-D

19. Junito

Posts: 145; Member since: Feb 12, 2012

I know personally seven of those 36k. Big Red is going to feel more heat as the economy shrinks, and the end of two year contracts is not helping. There's no need to have Verizon anymore. Furthermore, if you like them so much, just switch to prepaid.

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