Verizon Wireless Reports Solid Third Quarter Customer Growth
October 4, 2001
Verizon Wireless, a joint venture of Verizon Communications (NYSE: VZ) and Vodafone Group (NYSE and LSE: VOD), today announced it added 752,000 net new customers during the third quarter 2001. Total customers increased to 28.7 million, a 12.3 percent increase over the third quarter 2000 subscriber base of 25.5 million.
Demand for wireless services in the quarter was solid, as the company continued to focus on the quality of its subscriber base. Contract gross additions accounted for more than 86 percent of total gross additions. Total churn was down from the third quarter 2000 and for the second consecutive quarter, decreasing to 2.2 percent.
Full performance results for Verizon Wireless will be included in Verizon Communications' planned announcement of third quarter earnings Oct. 30.
About Verizon Wireless
Verizon Wireless is the largest wireless communications provider in the U.S. with more than 28 million wireless voice and data customers. The coast-to-coast wireless provider was formed by the combination of the U.S. wireless businesses of Verizon Communications (NYSE:VZ) and Vodafone (NYSE and LSE: VOD), including Bell Atlantic Mobile, AirTouch Cellular, GTE Wireless and PrimeCo Personal Communications. Verizon Wireless has a footprint covering more than 90 percent of the U.S. population, 49 of the top 50 and 97 of the top 100 U.S. markets. The company, headquartered in Bedminster, NJ, is 40,000 employees strong. Reporters and editors can find more information about the company on the Web at http://www.verizonwireless.com.