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 The biggest U.S. 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
percent versus the 0.99 percent estimated by FactSet.
Revenue from Verizon's FiOS high-speed Internet, TV and phone
service rose 10 percent to $3.4 billion, while tablet sign-ups
totaled 852,000 in the quarter.
Wireless carriers have been offering heavy promotions and discounts
on tablets as they look to boost crucial subscriber growth numbers
and limit customer churn.
Verizon is gearing up to launch its online video service to unlock
new revenue streams as competition in the wireless industry from
smaller players such as T-Mobile US Inc and Sprint Corp heats up.
The company bought AOL Inc in June in a $4.4 billion bet that a push
into mobile video and targeted advertising can help it find new
growth avenues.
Verizon said it added 842,000 4G smartphones to its postpaid
customer base in the quarter.
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Net income attributable to Verizon was $4.23 billion, or $1.04 per
share, in the second quarter ended June 30, compared with $4.21
billion, or $1.02 per share, a year earlier.
Revenue rose to $32.22 billion from $31.48 billion.
Analysts on average had expected earnings of $1.01 per share on
revenue of $32.45 billion, according to Thomson Reuters I/B/E/S.
(Reporting By Devika Krishna Kumar and Lehar Maan in Bengaluru;
Editing by Saumyadeb Chakrabarty)
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