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VZ » Topics » Wireless Continues to Gain Share, Posts Record Low Churn

This excerpt taken from the VZ 8-K filed Jul 28, 2008.

Wireless Continues to Gain Share, Posts Record Low Churn

Verizon Wireless continued to lead the industry with strong, quality customer growth, record-low churn and the highest profitability. In the second quarter:

Verizon News Release, page 4

 

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Of the 1.5 million total net customer additions, essentially all were retail post-paid.

 

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Retail gross customer additions were strong, up 3.2 percent over the prior year.

 

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Total churn was industry-leading and down year over year at 1.12 percent, a record low for the company. Among the company’s retail post-paid customers, churn was even lower at 0.83 percent, also a record low.

 

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Wireless continued its double-digit revenue growth, with total revenues of $12.1 billion, up 11.8 percent year over year. Service revenues were $10.5 billion, up 11.6 percent year over year, driven by customer growth and demand for data services. ARPU levels (average monthly revenue per customer) increased year over year for the ninth consecutive quarter. Total service ARPU of $51.53 was up 0.9 percent year over year driven by total data ARPU, which was up 31.3 percent.

 

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Wireless operating income margin was 28.6 percent, the highest ever.

 

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EBITDA margin on service revenues (non-GAAP) was 45.6 percent. (EBITDA is earnings before interest, taxes, depreciation and amortization.)

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