The metrics driving Verizon’s turnaround
Verizon is undergoing a transformation towards a more customer-focused and AI-driven model. The company reported its first positive net additions of postpaid phone subscribers since 2013, indicating improvements in customer retention and acquisition. Despite still facing challenges in the competitive market, Verizon's financial metrics show early signs of progress under new CEO Dan Schulman.
- ▪Verizon reported a net addition of 55,000 postpaid phone subscribers in Q1, its first positive result since 2013.
- ▪Customer churn improved to below 85 basis points in March, reversing previous upward trends.
- ▪Total operating revenue for Q1 was $34.4 billion, up 2.9% year-over-year, with adjusted EPS beating estimates at $1.28.
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Good morning. Verizon is starting to show what happens when customer experience becomes a growth strategy.Recommended Video The telecom giant is in the midst of a multi-year transformation toward a leaner, AI-driven model. On the company’s Q1 earnings call Monday, Dan Schulman, chief executive since October, pointed to churn as “the clearest measure” of whether the company’s efforts are resonating. Verizon, No. 30 on the Fortune 500, reported its first positive first-quarter postpaid phone net adds since 2013—a net addition of 55,000 postpaid phone subscribers. Postpaid customers, who pay monthly bills under contract, are considered the most valuable because they carry the largest bills and are less likely to switch providers.
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