Verizon Communications Inc. (NYSE:VZ) Wireless is offering more mobile data access to its customers, further encouraging them to upgrade their plans.
Earlier this week, the company has also named Ronan Dunne, former CEO of a notable British wireless carrier, as its newest Executive Vice President (EVP) and Group President of Verizon Wireless.
Accordingly, an additional 2GB mobile data will be provided per line per month to subscribers who will upgrade their subscriptions. This follows shortly after Verizon Wireless revamped its postpaid rates with higher data buckets and higher monthly fees but lower per-GB pricing.
As part of its efforts to renew its postpaid offerings, Verizon Wireless has already introduced in-demand features such as Carryover Data and Safety Mode. The Carryover Data allows subscribers to rollover their unused data for the current month to the following. Meanwhile, the Safety Mode guarantees subscribers the assurance that they won’t have to exceed their monthly allocation as the network speed is automatically adjusted depending on their usage.
Dunne headed the second largest wireless carrier in the UK over the last eight years (he only tendered his resignation last month). Prior to that, he served as its Chief Financial Officer (CFO) for three years. With his extensive leadership experience in the mobile carrier industry, Dunne is believed to be well-positioned to help Verizon Communications thrive especially now after the company reported a weaker-than-expected results.
Q2 Financial Highlights
Verizon Communications issued its second quarter earnings report late last month, disclosing a 5.30% year-over-year decline in operating revenue to $30.50 billion.
For the period, the company had an operating income of $4.60 billion and a net income of about $900 million. Verizon Communications reported earnings per share (EPS) of $0.17, which is significantly down from an EPS of $1.04 reported during the same period last year.
Amid a disappointing quarter, Verizon Communications remain hopeful in its Internet of Things (IoT) business, which continues to grow as it posted almost 25% year-over-year surge in net revenue to $205 million.
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