In the red-hot telecommunications space, Verizon continues to thrive by keeping a long-term commitment to its customers and shareholders. This balance is what being a ROC Star is all about.
For example, Verizon Wireless added 1.9 million net customers in the third quarter 2006, for a total of 56.7 million customers nationwide-a 15.1 percent increase in total customers from the end of the third quarter last year. During the past 12 months the company has added nearly 7.5 million net customers, beating other wireless carriers.
The company also cites its low churn rate as a key to success. For the third quarter 2006 total churn was 1.24 percent, and churn among the company's retail postpaid customers (93 percent of all its customers) was 0.95 percent.
In addition, the newly formed Verizon Business division demonstrated overall revenue growth for the first three quarters of 2006-the only major U.S.-based enterprise carrier to show such growth in that period. With its market launch in January 2006, Verizon Business hit the ground running and built momentum with numerous products and services designed to meet customers' advanced communications and information technology needs.
And to meet growing customer demand for integrated services, Verizon has rolled out FiOS TV, a fiber optic alternative to cable television service. The company counted about 175,000 FiOS customers at the end of 2006, out of a potential customer base of 1.8 million households.
"Verizon continues to win customers and market share for wireless, broadband, and enterprise services," Ivan Seidenberg, Verizon chairman and CEO, said in a statement.
"These organic growth initiatives gained momentum in the third quarter, and we are confident this growth is sustainable. We are building long-term shareholder value on a foundation of infrastructure and technology investment, supported by innovative marketing and customer service initiatives."