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Heavy promotions boosted Verizon

Thursday, January 21, 2016 - 00:49

Verizon, the number 1 U.S. wireless service provider, reported higher-than-expected revenue for the fourth quarter and added 1.5 million new monthly users. Fred Katayama reports.

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Verizon's circuits sizzled in the latest quarter. The number one U.S. wireless service provider swung to a profit from a loss. And it added 1.5 milion new monthly users after it poured on the promotions. Competition is amped up at year-end because that's when many customers upgrade or buy new phones. Sprint offered 50 percent off to encourage users to switch to its network, and T-Mobile US launched a free video streaming plan. Verizon punched back last month with a plan offering customers who switch from AT&T, T-Mobile, and Sprint up to $650 to cover early termination fees. Verizon said Fios - its bundled internet, phone and TV service - saw huge growth. It added nearly 100,000 Fios Internet subscribers. That's nearly quintuple that of the previous quarter.

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Heavy promotions boosted Verizon

Thursday, January 21, 2016 - 00:49