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Verizon's big bucks

Discussion in 'Western US Wireless Forum' started by KevinJames, Oct 9, 2001.

  1. KevinJames

    KevinJames WA's 1st retired mod
    Senior Member

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    Location:
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    I found this news article on Verizon's website.
    _________
    <u>Verizon Wireless Reports Solid Third Quarter Customer Growth</u>
    October 4, 2001 — BEDMINSTER, NJ — 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.
    ______________
    Great, now lets see Verizon show some public sympathy for the present economy and make their phones more affordable.

    Kevin
     
  2. larry

    larry Sprint loyalist and former mod
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    Verizon had a huge 3rd quarter adding 752k new customers but Sprint is expecting to add about 850K. Cingular might top that as well.
     
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  4. Tony

    Tony Junior Member
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    Alright, Larry, I heard a rumor about Sprint today, and I thought you might have a way/route to check it out.

    Remember that rumor a while back that Verizon was considering buying out Sprint? Well, the rumor I heard today was that Sprint, who has kept extending its no deposit offer, and has been doing some strange money exchange activities between its departments, is taking on a lot of bad debt. This is because they are trying to sell thier network, and they are trying to make it look more valuble by adding subscribers as fast as they can. It makes sense from my limited perspective (Since it has been shown in the marketplace already that getting subscribers through no deposit is a sure fire long term loss policy, and I am unwilling to believe Sprint is run by financial fools.) based on what I've seen. Do you know anything about this? (From purchase offers, ect.)
     
  5. larry

    larry Sprint loyalist and former mod
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    Tony,

    Sorry haven't heard anything about this. I've been away for 3 days so maybe I'm out of the loop. As far as I know they have no intention of selling their network anytime soon but would probably listen to any offers.
     
  6. larry

    larry Sprint loyalist and former mod
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    Sprint added a record 1.2 million new subscribers in the 3rd quarter 2001. Much higher than expected. In addition another 384,000 added thru affiliates.
     

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