Verizon's continued growth has been reflected in its third-quarter earnings, the company reporting profit of $3.7 billion in comparison with $2.2 billion reported in the same quarter last year.
Verizon Communications said Tuesday that 1.5 million new wireless customers had signed up for its data plans, many of whom were tablet owners, the New York Times' Bits blog reported.
As competitors like Sprint and T-Mobile duke it out with price-cutting skirmishes, Verizon has continued to offer better service at a higher rate.
"For at least the last four quarters, the question has been whether Verizon will eventually be dragged into the muck and mire of the rest of the industry," said Craig Moffett, a telecom analyst for MoffettNathanson Research, as quoted by Bits. "Each time, through both their comments and their results, they have made clear that they can happily and successfully float above the fray."
The largest wireless carrier in the country, Verizon slightly missed analysts' profit projects with third-quarter earnings of 89 cents a share, rather than 90 cents.
The addition of more than 1.5 million new customers surpassed the estimated 1.34 million predicted by 10 analysts that were surveyed by Bloomberg News.
"They are a company that has stuck to its guns with a subsidy model that depresses earnings in times of rapid growth," said Craig Moffett, an analyst at MoffettNathanson LLC, as quoted by Bloomberg. "Verizon has resolutely stuck to its premium-priced strategy."
While Verizon has made a few price cuts, including a discounted plan called More Everything that offers larger amounts of data, even the reduced-price services cost more than its rivals' equivalents.
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