Verizon reports increased earnings for Q2 2015, welcoming 1.1 million new customers

Verizon has published its earnings report for Q2 2015. The US carrier performed rather well in the second quarter of this year, pulling in $32.2 billion of revenue. The company continues to battle competitors to retain customers, but did manage to see its churn rate drop to just 0.90% – the lowest in three years.

As well as revenue of $32 billion, Verizon also reported earnings of $4.23 billion ($1.04 a share), a slight increase from $4.21 billion ($1.01 a share) a year earlier. The company has experienced a 2.4 percent year-over-year increase in total revenues, and managed to add a total of 1.1 million retail postpaid connections during Q2. As touched on above, the churn rate (customers cancelling services) for Verizon in the quarter was 0.90%.

It's a stark contrast to T-Mobile, which reported adding a total 2.2 million new subscribers during Q2 with a churn rate of 1.3%. Looking at the published report, Verizon relied heavily on tablet growth to bolster figures this quarter, which totalled 852,000. Verizon expects revenue to grow by 3% through 2015.

Source: Verizon

Rich Edmonds