Verizon adds 1.1M subs in Q2

Verizon Wireless released second-quarter subscriber numbers showing a net gain of 1.1 million customers. Although the nation's largest wireless operator continues to add millions to its subscriber base, it recorded slightly fewer net additions in the quarter than its chief rival--and the nation's No. 2 wireless carrier--AT&T Mobility.

Verizon Wireless' 1.1 million net subscriber additions were down from the 1.3 million net adds it recorded in the first quarter, and  notably less than the 1.5 million net adds it scored in the second quarter of last year. Verizon's subscriber base now stands at about 87.7 million. Yesterday, AT&T reported 1.4 million net adds in the second quarter, for a total subscriber base of 79.6 million.

Verizon Wireless did not disclose any ARPU, churn or financial numbers; its parent company Verizon Communications is scheduled to report those July 27.

Piper Jaffray analyst Chris Larsen told Reuters that he estimated this quarter to be Verizon's lowest quarterly net subscriber growth since 2003. Larsen said his firm attributed the results to higher net adds at AT&T, mainly because of Apple's iPhone, as well as increased interest in prepaid plans offered by the likes of Sprint Nextel's Boost Mobile unit, Leap Wireless and MetroPCS.

For more:
- see this release [1]
- see this Reuters article
[2]- see this WSJ article [3] (sub. req.) [2]

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