Verizon reports lowest churn rate in the industry for Q2

Verizon reports lowest churn rate in the industry for Q2
Verizon Wireless put out a special release on Thursday following the morning announcement of T-Mobile's Q2 earnings report. Once the nation's fourth largest carrier put out its numbers, it allowed Verizon to announce that it had the lowest churn in the period among the top four carriers in the States. Churn (which has nothing to do with Ice Cream) measures the percentage of customers leaving a carrier during a specified time period. For the second period, Verizon's churn rate its postpaid accounts was .84% compared to the .97% churn rate for AT&T, 1.69% for Sprint and the ugly 2.10% rung up by T-Mobile.

With 88.8 million customers. you might expect Big Red to lose a few people here and there which makes its low churn rate more impressive. The carrier says that its 4G LTE coverage, which now blankets 75% of Americans, is responsible for the high customer satisfaction rating. The company notes that it has invested a total of $70 billion into its network since day one, proving that sometimes you get what you pay for. Just last month, Verizon won its third straight J.D. Power and Associates award for customer care.

source: Verizon via Phandroid

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