- Verizon (VZ +2.4%) added 1.1M net retail wireless connections in Q3, and saw 927K retail postpaid net adds. Those figures compare with 1M and 941K in Q2, and are evidence Big Red continues to take U.S. mobile share. Total retail postpaid connections +5% Y/Y to 95.2M, total retail connections +5% to 101.2M; both figures grew at a 6% clip in Q2.
- Verizon's wireless service revenue rose 8.4% Y/Y in Q3, even with Q2 and outpacing sub growth. Wireless op. margin was 33.8%, +140 bps Q/Q and +200 bps Y/Y. 67% of retail postpaid subs now use smarphones (up from 64% in Q2), and 42% use a shared data plan.
- Retail postpaid ARPA +2% Q/Q and +7% Y/Y to $155.74. But retail postpaid churn was 0.97%, up from 0.91% a year ago.
- FiOS Internet and TV net adds totaled 173K and 135K, respectively. That compares with 161K and 140K in Q2. FiOS Internet and TV subs totd 5.9M and 5.2M at quarter's end. Total broadband connections rose by 56K Q/Q to 9M. Consumer wireline ARPU rose 8.7% Y/Y to $112.86.
- However, wireline revenue fell 1% Y/Y, as declines in small business, "Core" enterprise, and global wholesale services offset gains for consumer retail and "strategic" enterprise. 371K wireline voice connections were lost, total voice connections -6% Y/Y to 21.5M. Wireline op. margin was 1.6%, up from 0.8% in Q2 and 0.4% a year ago.
- Q3 results, PR
Verizon's Q3 subscriber adds impress, shares rise
Oct 17 2013, 09:38 ET