From CNET: Wireless is where it's at for Verizon. Just look at the company's most recent quarterly results. The company continues to rack up new wireless customers as it goes city by city to roll out 5G. But all this growth is coming from its traditional 4G LTE service, as the company continues to promote the tried and true service.
Meanwhile, the company sees its traditional video business slumping as more and more customers cut the cord for online services.
For the third quarter, Verizon said it added a total of 615,000 postpaid customers, those valuable customers who pay at the end of the month and tend to spend more money on service. It also added 444,000 prepaid subscribers.
But while Verizon toted up those wireless additions, it lost customers on its traditional wireline service. The company said that it added 30,000 new customers for its Fios Internet business, but it lost 67,000 video customers, as customers cut the cord and moved to streaming online video services.
In total, Verizon reported third-quarter revenue of $32.9 billion versus the $32.7 billion expected by analysts, according to Yahoo Finance. The company's revenue for wireless came in at $23.6 billion, a 3% increase from the same quarter a year ago. This was just shy of analyst estimates of $23.33 billion. Wireline revenue came in at $7.1 billion, a 4% decline from a year earlier.
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