Verizon added 173,000 postpaid phone customers and 287,000 postpaid smartphone customers in the second quarter, despite losing 81,000 Fios TV subscribers, the company reported Friday. But he saw a net gain of 10,000 consumer Fios broadband subscribers, even though he had to suspend many home installations due to pandemic restrictions.
The Keep Americans Connected pledge, waiving late fees and promising not to cut off service to customers who were unable to pay during the pandemic, ended June 30, but Verizon CFO Matt Ellis, He said a third of customers were up to date with their bills at the end of June, and 80 percent of their wireless customers have been making at least some payments.
“We are encouraged by what we have seen, and we expect the vast majority to be Verizon customers within a year,” said Ellis. Many of the clients have signed up for payment plans to allow them to continue paying their bills over time now that the engagement has ended, he added.
Verizon saw a year-over-year decrease in quarterly revenue, from $ 32.1 billion to $ 30.4 billion, which it said took a hit due to a decline in device sales. 60% of its retail stores reopened at the end of the second quarter and most will reopen later this month, the company said.
Net income increased during the quarter, from $ 3.9 billion a year ago to $ 4.7 billion in the current quarter. Your media business, which includes TechCrunch and HuffPost, saw a 24.5 percent drop in revenue to $ 1.4 billion, which the company said was primarily related to COVID-19’s impacts.
