Earnings season is underway once again, and today Verizon shared its results for the first quarter of 2015.
In the first three months of 2015, Verizon says that it added 565,000 retail postpaid customers and lost 188,000 retail prepaid customers, resulting in total retail adds of 377,000. At the end of the quarter, Verizon had a total of 108.6 million retail connections, a jump from the 102.6 million connections that it had in Q1 2014.
Looking at hardware, Verizon added 621,000 4G LTE smartphones in Q1 2015. Due to a decline in the number of 3G smartphones, though, Verizon’s total Q1 2015 smartphone growth finished at 247,000. Around 6.5 percent of Verizon’s postpaid base upgraded to a new device in the quarter, and 90 percent of those upgrades were to a smartphone. Verizon says that 4G LTE devices now make up around 70 percent of its retail postpaid connections, which is up from 49 percent in Q1 2014. Verizon’s 4G LTE network handled around 86 percent of the carrier’s network traffic in Q1 2015.
Finally, Verizon says that its retail postpaid churn finished Q1 2015 at 1.03 percent, which is down from the 1.14 percent postpaid churn that Verizon reported in Q4 2014. The carrier’s total retail churn ended the quarter at 1.33 percent.
Verizon’s total revenues in Q1 2015 grew 6.9 percent year-over-year to finish at $22.3 billion. The big red carrier says that around 39 percent of its total Q1 2015 phone activations were made using its Edge payment program, a growth from 25 percent in Q4 2014.
While Verizon’s total adds for Q1 2015 likely aren’t as high as the big red carrier would like, I’m sure that Verizon is pleased to see its churn drop and usage of its LTE network continue to grow. I’m currently tuning in to Verizon’s Q1 2015 results conference call, and I’ll be sure to update you if the carrier shares any other interesting information about its last quarter.