T-Mobile may be shaking up the wireless industry, but it hasn’t stopped Verizon from chugging along. In its first-quarter earnings report released Thursday, Verizon posted a profit of $0.84 per share, which was below the consensus estimate of $0.87 per share. On the plus side, the company’s revenue in Q1 2014 was $31.8 billion, which was over $1 billion higher than the consensus estimate of $30.7 billion. What’s more, Verizon added 539,000 postpaid subscribers on the quarter, which is a solid number slightly below the 625,000 postpaid subscriber gains that AT&T reported over the same quarter. Even more importantly, Verizon’s postpaid churn, or the rate at which customers come and go, remained at a very low 1.07%.
Verizon delivers mixed Q1 earnings, adds 539,000 postpaid subscribers
Published Apr 24th, 2014 7:53AM EDT
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Brad Reed has written about technology for over eight years at BGR.com and Network World. Prior to that, he wrote freelance stories for political publications such as AlterNet and the American Prospect. He has a Master's Degree in Business and Economics Journalism from Boston University.
