has been seeing month-over-month improvements in gross consumer subscription additions along with a double-digit increase in store traffic in the first two months of the September quarter, CEO Hans Vestberg said Wednesday.
But Vestberg said, at a session at the
tech conference in San Francisco, that elevated customer churn at the wireless carrier due to recent service price increases means Verizon (ticker: VZ) will report negative consumer net additions once again in the third quarter.
He added that Verizon should “come back to business as usual” in the fourth quarter, with a return to net subscriber growth.
In the second quarter, Verizon lost 215,000 postpaid mobile subscribers, citing both an increase in churn and a year-over-year decline in gross phone additions.
Vestberg added that the company continues to see strong net additions in business customers. In the June quarter, Verizon added 430,000 postpaid subscribers in its business segment.
Verizon shares were off 1% on Wednesday to $41.28.
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