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Verizon matches and beats Cingular's Q1 numbers

Verizon matches and beats Cingular's Q1 numbers

Verizon Wireless has matched Cingular by adding 1.7 million subscribers during the first quarter of 2006. Verizon beat Cingular, however, on churn rate by posting a record figure of 1.18 percent, compared with Cingular's rate of 1.9 percent. Revenue from services increased 16 percent to $7.6 billion, but as was the case with Cingular, average revenue per user decreased.