Better-than-expected: Verizon profit beats estimates

BENGALURU: Verizon Communications Inc reported a better-than-expected rise in quarterly profit as more users signed up for its postpaid wireless services and subscriber defections fell to a three-year low. The biggest US wireless service provider added 1.1 million wireless retail postpaid subscribers - those who pay each billing cycle based on usage - on a net basis in the second quarter, in line with estimates from analysts polled by market research firm FactSet StreetAccount. Customer defections, also known as churn in the telecommunications industry, for Verizon’s wireless postpaid business dipped to 0.90% versus the 0.99% estimated by FactSet. Revenue from Verizon’s FiOS high-speed Internet, TV and phone service rose 10% to $3.4 billion, while tablet sign-ups totaled 852,000 in the quarter.

Published in The Express Tribune, July 22^nd,  2015.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.