Verizon Wireless customers grew 14.6 pct year-over-year
NEW YORK, Oct 6 (Reuters) - No. 1 U.S. mobile phone operator Verizon Wireless, a
venture of Verizon Communications
(NYSE:VZ - news) and Vodafone Group Plc (quote from Yahoo! UK & Ireland:
VOD.L) (NYSE:VOD - news), saw its customer
base grow 14.6 percent in the third quarter over the same period last year, Verizon
Communications said in a release.
Verizon Wireless added 806,000 new customers during the quarter, 34.9 percent more
net additions than in the third quarter of
1999, the company reported in a release.
Total churn, or customer turnover, was 2.5 percent in the quarter, including pre-paid
customers, unchanged from the third quarter of 1999, the release said.
Verizon Communications owns 55 percent of the wireless group, with Vodafone owning
the remaining 45 percent. Verizon was formed by the merger of Bell
Atlantic and GTE earlier this year.
Shares of Verizon fell $1-5/8, or 3.1 percent, to $50-1/4 in afternoon trade on the New
York Stock Exchange. Shares of Vodafone fell $2-1/4, or about 6 percent,
to $35-11/16, also on the NYSE.
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