Verizon reports 615,000 net postpaid additions in Q23
Postpaid churn remained low at .94%. That was a 4 basis point increase over last year's .90% reading. Improved churn in phone accounts was more than offset by an increase in tablet churn. Wireless operating income came to $8 billion with operating income margin of 36.9%. 93% of Verizon's data traffic is routed over its LTE network. Such traffic increased 44% year-over-year.
356,000 of its net additions were for tablet totin' customers. Net phone additions came to just 86,000 during the three months. Verizon has been pushing tablets for its customers since the larger screen allows them to better view Verizon's new online content like go90. 11% of Verizon customers currently own tablets that connect to the carrier's pipeline. As more Verizon customers view the carrier's online content, the higher the advertising rates Big Red can charge companies to promote their wares.
Verizon announced on Monday that it is buying Yahoo for $4.83 billion. The purchase bolsters Verizon's online properties and is expected to help the wireless operator improve its mobile advertising business. Verizon is becoming known for collecting companies that were once big players in the internet. Last year it acquired AOL for $4.4 billion.
source: Verizon via WSJ, CNBC