Oct 22 Reuters Verizon added more wireless subscribers than expected in the third quarter as the U.S. telecom giant39;s promotional offers and plans that bundle 5G with streaming services such as Netflix helped attract customers.
Growing adoption of the company39;s myPlan, a customizable offering with streaming perks including Disney, Hulu and Max for an extra cost, has helped Verizon stay resilient in the competitive U.S. telecom market.
The company added 239,000 net monthly billpaying wireless phone subscribers in the September quarter, compared with expectations of 218,100 additions, according to FactSet. It posted 148,000 additions for the June quarter.
With the U.S. wireless market nearing saturation, Verizon and its rivals have been looking to expand their highspeed broadband internet business to tap increasing data use by customers. The company agreed to buy fiberoptic internet provider Frontier Communications last month in a 20 billion deal.
Verizon39;s broadband net additions were 389,000 in the quarter, compared with 434,000 a year ago, bringing total broadband subscribers to more than 11.9 million.
The company is expected to reveal its broadband strategy, including new targets for the segment, later in the day during a call with analysts.
Its fixed wireless service, which sends signals to a device in a home or business over airwaves, added 363,000 customers to hit a total of nearly 4.2 million, meeting its goal of 4 to 5 million subscribers more than a…