Verizon's Wireless Subscription Additions Heat Up in the Second Quarter
The U.S. wireless market is about to get a simultaneous tie-up and shake-up, but for now Verizon (NYSE: VZ) sits atop it all. Its second-quarter 2019 revenue was down 0.4%, but adjusted earnings increased 2.5% due to an increase in both subscribers and average service revenue per subscriber -- a modest yet solid performance for the telecom giant.
Meanwhile, the battle over next-gen 5G wireless services is only just beginning to heat up. Verizon got off to an early but narrow lead, but the network provider still looks like a solid bet for income investors in this period of transition.
Verizon's net postpaid wireless subscribers increased 451,000 in the second quarter after a not-uncommon sluggish start to the year. Year to date, the network giant has put together a more-than-respectable performance, given the general slowdown in new wireless subscribers available to be won and in spite of ever-present competition. T-Mobile (NASDAQ: TMUS) and its soon-to-be-absorbed peer Sprint (NYSE: S) continue to chip away at the lead, but Verizon's wide margin over both of them and No. 2 rival AT&T (NYSE: T) nevertheless remains safely intact for now.
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