Take care of your customers and they’ll take care of you. That may sound cliché, but Verizon Wireless’ third quarter financial results prove it’s a philosophy that works. It’s part of our Credo, it’s a promise we make to our customers everyday.
Looking at the results of our Q3 actions, we added 1.5 million net retail connections during the quarter, for a total of 106.2 million. That means nearly one out of every three U.S. mobile users is a Verizon Wireless customer. Just as important, when people join Verizon Wireless, they tend to stick around. Just 1 percent of our postpaid subscribers left during Q3.
Analysts, investors and the media agree that our customer-first strategy keeps paying dividends quarter after quarter. Here’s what some of them had to say about our Q3 results:
- “Overall, Verizon reported profit of $3.7 billion, a sharp increase from the $2.2 billion in profit it reported in the quarter last year… And Verizon has not only been unfazed by the price cuts, it continues to grow at a healthy rate.” – Brian X. Chen, New York Times
- “Verizon continues to grow despite increased competitive activity in the wireless industry… Verizon's business continues to run largely on the traditional contract and subsidy model, and quarter after quarter remains less affected by the industry shifts affecting its rivals.” – Roger Cheng, CNET
- “The rapid increase in subscriber adds in the last few quarters can be attributed to the carrier’s innovative plan offerings, especially its ‘More Everything’ data plans. These plans offer higher data offerings and incentivize customers to share their plans with family and friends by making the addition of members cheaper.” Trefis Team, Forbes
- “Verizon Wireless added more postpaid subscribers in the third quarter than financial analysts had expected and the growth was again largely driven by tablet activations, not phones.” – Phil Goldstein, FierceWireless
Beyond what the analysts report, one key reason why so many people come and stay is our customer-friendly programs such as Verizon Edge and The MORE Everything Plan. These plans make it easy to save money and have the latest and greatest smartphones and tablets. Another equally important reason is that we continuously upgrade our network’s coverage and are ever diligent in bringing new innovations to our customers. As example, XLTE is now available in over 400 markets nationwide, providing our customers with the reliability they demand while empowering them to live the digital lives they seek.
Even so, we’re not content to rest on our laurels. As we move into the holiday season and the excitement of beginning a new year, we look forward to introducing additional values, exciting new devices – especially tablets – and innovative technologies to continue our streak as the go-to network for consumers and businesses.