Apple Watch Helps Verizon Grow Subscribers Despite Loss of Phone and Tablet Customers [Chart]

Apple Watch Helps Verizon Grow Subscribers Despite Loss of Phone and Tablet Customers [Chart]

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The Apple Watch and other wearable devices helped Verizon grow its subscribers last quarter despite the loss of traditional phone and tablet customers, reports Bloomberg.

Verizon's monthly subscribers climbed by 260,000 in the first quarter thanks to 359,000 new subscribers who are using watches, wearables, and other devices. That made up for the loss of 24,000 phone customers and 75,000 tablet customers. Watch customers pay about $10/month compared to $40/month or more for a typical phone customer.

The results renewed optimism that the largest U.S. mobile-phone carrier can cope with a maturing industry. Even as the company lost phone and tablet subscribers, new customers using mobile service for Apple Inc. and Samsung Electronics Co. watches, vehicles and other applications offset the shortfall. The results sent the shares up as much as 3.6 percent to $50.39.

Bloomberg also noted that Verizon's FiOS landline service added 66,000 Internet customers in the first quarter; however, it lost 22,000 TV subscribers.

Verizon posted earnings of $1.17 a share, slightly higher than the $1.11 forecasted. Kevin Roe, analyst at Roe Equity Research, says "Verizon delivered results slightly above muted expectations, and we think that is good enough for the market."

Take a look at the chart below and hit the link for more details...

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Apple Watch Helps Verizon Grow Subscribers Despite Loss of Phone and Tablet Customers [Chart]

Chip - April 25, 2018 at 2:34pm
This is nonsense it's being advertised that Verizon is no longer in anything solid these days. They are crooks and serves them well for the days they were rapping paying customers now the table is turned you want to get them back. What a joke. Good thing I left them. Even they pay me I will not go with Verizon.
nocci - April 25, 2018 at 3:28pm
Amen! That's the only thing they are the best at doing. I'm glad I moved away from the deATTh star when I had the chance because these guys and verHIGHzon together equals duopoly that not only wants money, but attempts to emulate what Tmobile does. Now they'll get the duopoly by the balls in the cord cutter market.
nocci - April 24, 2018 at 10:33pm
Another quality standard product that helps get a dumped company back on its feet before greed will take over these guys again! lawl
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