Tallying up results from the fourth quarter of 2018, both Verizon Communications and T-Mobile reports large gains in their numbers of clients, reports Barrons.com. Wall Street indications suggested that both carriers were doing well, but the preliminary numbers for the increase in subscribers for both carriers have exceeded expectations.
Customers have been migrating from prepaid to postpaid plans, observed Verizon Wireless President Ronan Dunne. Sprint, which concentrates its business on prepaid plans, is most likely to feel the hit.
Dunne noticed that there has been an upsurge of more lines added to accounts.
“We’re seeing more people taking connected devices, whether that be watches, whether that be more tablets and other things [that need addition lines],” he said, adding that, “[There is] growth in the industry, and I think we’re taking at least, if not more, than our fair share.”
Seeing T-Mobile numbers on the rise as well, jubilant CEO John Legere said, “These customer results speak volumes about our company, our network, and our brand!” The stock market recorded a three percent gain for Verizon Wireless, and a four percent gain for T-Mobile, following the release of information by both companies.
AT&T and Sprint have not shared fourth quarter numbers yet, but have already felt the pinch in the stock market, with AT&T down 2.2 percent and Sprint down by .5 percent. John Hodulik, a UBS telecom and cable analyst sees difficult times ahead for both competitors.
January 14, 2019