Verizon reports a loss in wireless customers for the first time ever

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 6 days ago '17        #1
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FreeJavon23 10 heat pts10
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Verizon reports a loss in wireless customers for the first time ever
 

 
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Verizon said it suffered its first-ever quarterly net loss of paying wireless subscribers as it struggles to get customers to pay a premium for its once-dominant services.

Verizon said it lost 307,000 retail postpaid subscribers on a net basis in the first quarter — painfully short of the 222,000 new subscribers Wall Street had been expecting, according to market research firm FactSet StreetAccount.

The surprise swing to a subscriber loss came despite Verizon relaunching an unlimited data plan in February. To make matters worse, the new, generous offer took a bite out of Verizon’s wireless revenue, sending it 5.1 percent lower to $20.9 billion.

Churn, or customer defections, among wireless retail customers who pay bills on a monthly basis increased to 1.15 percent of total wireless subscribers, compared with the average analyst estimate of 1.03 percent, according to FactSet.

Shares of the No. 1 US wireless carrier were recently off 1 percent at $48.44 in afternoon trading.

Verizon is struggling to fend off smaller rivals T-Mobile and Sprint in a maturing market.

“They badly missed on every important subscriber metric, and it just underscores that the wireless business is a severely growth-challenged business at the moment,” Craig Moffett, an analyst at MoffettNathanson, said in an interview.

In February, Verizon announced that it would offer an unlimited data plan for the first time in more than five years.

The company has also pursued revenue streams outside its core wireless business. In February, it said it would buy Yahoo’s core business for $4.48 billion, lowering its original offer by $350 million in the wake of two massive cyber-attacks at the internet company.

The deal brings to Verizon Yahoo’s more than 1 billion users and a wealth of data it can use to offer more targeted advertising.

Industry analysts have questioned whether the company will pursue a more transformative deal as its main competitor, AT&T, seeks to diversify its business through a planned acquisition of Time Warner. Earlier this week, Verizon Chief Executive Lowell McAdam said he is open to deal talks with companies ranging from Comcast to Walt Disney.

Verizon said net income fell to $3.45 billion, or 84 cents per share, in the first quarter ended March 31, from $4.31 billion, or $1.06 per share, a year earlier. Excluding items, earnings per share was 95 cents.

Total operating revenue fell to $29.81 billion from $32.17 billion a year earlier.

According to Thomson Reuters I/B/E/S, analysts had expected adjusted earnings per share of 99 cents and revenue of $30.77 billion.




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ayoking and 7 others gave props
 

55 comments for "Verizon reports a loss in wireless customers for the first time ever"

 6 days ago '14        #2
Falcons88 9 heat pts
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$2,691 | Props total: 1429 1429
Stay away from Sprint..I would jump on T-Mobile while they got their foot on people's neck
new2hiphop and 14 others gave props
 
 6 days ago '09        #3
Fly or Die 47 heat pts47
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$28,479 | Props total: 2399 2399
i have sprint but i hate not being able to talk and use data at the same time

was thinking of switching to verizon later this year
KSNova and 6 others gave props
 
 6 days ago '08        #4
Eagles All Day 84 heat pts84
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$30,668 | Props total: 8116 8116
sprint is a.ss and will remain a.ss

so many dead zones
"SS" and 9 others gave props
 
DJ HiStakes and 1 others slapped this ish
 
 6 days ago '14        #5
Playboi Loso 41 heat pts41
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$6,225 | Props total: 12541 12541
Sprint is basura

TMobile>>>>
wayvegretzky and 7 others gave props
 
messy marv stan and 2 others slapped this ish
 
 5 days ago '15        #6
Magozz 8 heat pts
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$5,345 | Props total: 5360 5360
Stopped fu*king with Verizon when they made me get out my grandfathered account just to upgrade phones. Glad they falling off, all these cell companies short changing people on data need to go.
Adamsville4real and 4 others gave props
 
 5 days ago '12        #7
ENAK 
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I just switched to tmobile from Verizon.
Got a better deal on a unlimited plan, and bought a pixel which tmobile is running a promo for.

I would also consider google.fi if I only had 1 phone line.

I literally never hear anyone say sprint is good, so I never considered it.
jaedot gave props
 
Jody slapped this ish
 
 5 days ago '06        #8
new2hiphop 2 heat pts
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$4,580 | Props total: 9154 9154
T-Mobile/metro pcs gave real deals n ppl smartened up.
Verizon u kno u don fcked up right
Quillajones and 5 others gave props
 
 5 days ago '14        #9
DJ HiStakes 
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Root metrics says T mobile is the worst provider that is all.
Jody and 7 others gave props
 
MyZ28 and 4 others slapped this ish
 
 5 days ago '05        #10
Chuck_Remixed 178 heat pts178
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Good. Needs to continue.
Jody slapped this ish
 
 5 days ago '17        #11
NERDBOX 1 heat pts
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Net10 and straight talk is k!lling them now that peiple are switching their old phones.
A NON gave props
 
 5 days ago '04        #12
mt fuji 17 heat pts17
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AT&T is on their necks!
When you can realistically get DTV and free hbo with amyear of Sunday day tcicmet for as low as $35 dollars....it's a no brainer!
GBREEZE and 1 others slapped this ish
 
 5 days ago '04        #13
mt fuji 17 heat pts17
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sh*t while we are on the subject....why do people "Stan" for their wireless carrier?
Unless you work for the company or have stocks in said company...why the hell do people get fanatical about who you are with?

To keep it totally honest,no matter who you roll with,you are a customer. Which means every rep you speak with job is basically yo find a way to raise your bill.
Thats it!
313Beatz and 10 others gave props
 
 5 days ago '05        #14
ChickzNKickz 98 heat pts98
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$10,184 | Props total: 4221 4221
AT&T Pre Paid Unlimited Plan! >>>

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 5 days ago '04        #15
DJ Maximum|M 42 heat pts42
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$41,951 | Props total: 6283 6283
hopefully they will wake up

but the new unlimited plan lowers the bill to 42 a month per user if theres 5 on a family play

throttle at 22GB but better than 2GB
 5 days ago '04        #16
adthekidd 16 heat pts16
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$6,513 | Props total: 4402 4402
bwahahhahah good for those greedy fu*ks

n*ggas was bragging about unlmt data like we're in 2005

idk why people complain about sprint their good money on this side
The Dudeness and 4 others gave props
 
 5 days ago '09        #17
messy marv stan 4137 heat pts4137
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$42,603 | Props total: 30625 30625
 NERDBOX said:
Net10 and straight talk is k!lling them now that peiple are switching their old phones.

those 2 services are owned by one of the 4 cell phone monopoly cartels
FreeJavon23 gave props
 
 5 days ago '05        #18
danny|M 7 heat pts
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$35,811 | Props total: 2229 2229
I switched from AT&T to Verizon this year because AT&T and Verizon are the only good carriers in my area and Verizon is the only carrier that has good cell reception at my place and my work. T-Mobile and Sprint are both trash in my area, unfortunately, so I'm stuck with 1 or 2 carriers for the time being.

With T-Mobile buying a lot of spectrum recently maybe my area will improve. I would have went with Google Fi if it had good service in my area as I don't really use data as I'm on WiFi the majority of the time. With my work discount I pay around $50/month for 2GB of data through VZW including all of the taxes and whatnot. Kind of a lot for one person, but it was better than the ~$70 I was paying on AT&T.
Jody slapped this ish
 
 5 days ago '11        #19
bkamagnum 
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People mad they charging them $80/mo for something they used to get for $30/mo in "unlimited data". They gonna have the do the right thing at some point. At the same time what goes up must come down.

They cannot explain why they need double the amount of money for they same exact thing...
flav and 2 others gave props
 
 5 days ago '06        #20
"SS" 28 heat pts28
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$10,093 | Props total: 4160 4160
Sprint service is complete a.ss. If it wasn't for Wi-Fi I couldn't even use the internet inside my house and several other places in at. People call and it never comes thru. Roams inside my home and a bunch of other sh*t. Been trying for months to figure out how to get out of the contract. We just decided to pay the phones off and bounce...im go in to cricket surprisingly they get excellent service where we live
jaedot and 1 others gave props
 
Y.G. slapped this ish
 
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