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Earlier today, Verizon Wireless released its Q1 Earnings Report for 2024. In this report, the wireless carrier reported a net loss of 158,000 wireless retail postpaid phone subscribers. Despite this, the number is still lower than the anticipated number given by Wall Street, which was a net loss of 263,000.
The carrier also had a 5.3% gross adds in consumer unit year-over-year. As a whole, the consumer wireless phone churn in Q1 was .83%.
They also reported a consumer revenue increase of .8% on an annual basis to $25.1 billion. Thanks to higher pricing and Fixed Wireless Access, Verizon also reported a rise in consumer wireless postpaid average revenue per account (ARPA).
Combined with its business sector, Verizon had a net loss of 68,000 postpaid phone subscribers in Q1. Postpaid phone churn for the two segments was at .89%.
Speaking to the public, Verizo’s Chairman and CEO, Hans Vestberg, said:
"Our strong results show that our team is delivering. Our performance in the first quarter sets us up for a successful 2024. We are on track to meet our financial guidance and to deliver positive Consumer postpaid phone net adds for the year. Our fixed wireless subscriber base is continuing to grow rapidly, and our network remains the best in the industry, by far."
Source: PhoneArena
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