While Verizon’s profits and revenues fell in Q3, the company has been making progress with the addition of several Google (NSDQ: GOOG) Android-powered smartphones. As the company prepares to share the marketing of Apple’s iPhone with AT&T (NYSE: T) next year, Verizon is already closing the gap in new additions.
During the quarter, Verizon added 997,000 total net wireless customers, excluding acquisitions and adjustments. Overall, it had 93.2 million wireless customers by end of Q3. In contrast, AT&T said it added 2.6 million new wireless subs. Most notably, while AT&T activated a record 5.2 million iPhones in Q3, most were upgrades and only 24 percent were new customers, the latter figure being an all-time low.
Other highlights from the quarter:
– The average amount of revenue generated by each subscriber was $18.61, up 19 percent from the same period last year.
– Retail postpaid churn remained low at 1.07 percent. Retail and total customer churn levels were 1.43 percent and 1.36 percent, respectively.
On the wireline side, Verizon added 226,000 net new FiOS Internet customers and 204,000 net new FiOS TV customers. By the end of the third quarter, Verizon had 3.9 million FiOS Internet and 3.3 million FiOS TV customers. Total wireline broadband and video revenues — including FiOS Internet, FiOS TV and HSI (DSL-based high-speed Internet) — were $1.8 billion in the quarter, up 20.8 percent from Q309.
Despite the gains in numbers, the amount of revenue from each FiOS customer held steady, gaining only 1.1 percent year-over-year. That said, revenue from consumers of wireline services was $86.55, up 10.9 percent compared with Q309. Overall, ARPU for FiOS customers was more than $146.