The most important metric for a wireless provider is postpaid phone subscribers since these are the customers that pay high recurring subscription rates each month and buy new phones and accessories, and subscribe to services. For the three months that ended in March, Verizon, the nation’s largest wireless carrier, reported a net loss of 127,000 retail postpaid phone subscribers.
Verizon lost 127,000 postpaid phone customers during the first quarte
Craig Moffett, an analyst at MoffettNathanson, was stunned by the report. He told his clients in a note, “Verizon’s subscriber growth metrics remain weak, with a shocking 478,000 retail phone subscriber loss across postpaid and prepaid combined.”
As you might imagine, Verizon Chairman and CEO Hans Vestberg had a more optimistic take on the quarter. “Our operational and financial results reflect the steps that we have taken to improve our performance. Compared to this time last year, we have added more postpaid phone gross additions to our network and have increased our cash flow from operations and free cash flow,” the executive said.
Vestberg added, “Last month, we announced that our 5G Ultra Wideband now reaches more than 200 million people as we continue to undergo the most aggressive network deployment in our company’s history. With our mobile and broadband capabilities, and our focus on network strength, we are giving more customers in more places a superior network experience.”
Despite the report, Verizon’s shares managed to rise 19 cents on Tuesday or .51% to $37.30, well off the 52-week high of $52.18 but closer to the 52-week low of $34.55.
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