Verizon Wireless Adds 1.8 Million Customers In 2Q

Verizon Communications said Verizon Wireless added 1.8 million net wireless customers in the second quarter, as the company continued to narrow the gap with market leader Cingular Wireless.

Verizon Wireless ended the quarter with 54.8 million wireless subscribers, of which 52.6 million are retail customers.

Verizon has led the industry in quarterly subscriber growth for most of the past two years.

Cingular, owned by AT&T and BellSouth, said last week it added 1.5 million net customers to finish the second quarter with 57.3 million.

Yet only about two-thirds of the new additions were direct retail customers, which are more profitable than wholesale subscribers or those signed up indirectly.

Verizon Communications will issue more details about its wireless performance when it reports second-quarter earnings on Aug. 1.

Verizon co-owns the wireless business with U.K.-based Vodafone Group plc (VOD).

-Jeffry Bartash; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires "

Posted to the site on 24th July 2006