Says expanding 5G and driving adoption is a priority in the second half. Says TracFone acquisition and Verizon Media Group sale expected to close in the second half, each subject to regulatory approval. Says generated strongest earnings on record in Q2. Says 5G available in portion of all 50 states. Says experienced one of the strongest net new wireless accounts quarters. Says year-over-year growth is no longer comparable for FY21 guidance as the planning assumption includes the Verizon Media Group sale closing at the end of Q3. Comments taken from Q2 earnings conference call.
Total revenue of $7.8 billion, an increase of 3.7 percent year over year, and relatively flat from second-quarter 2019. Total retail postpaid churn of 1.30 percent, and retail postpaid phone churn of 1.07 percent. 178,000 retail postpaid net additions, including 78,000 phone net additions.
Reports Q2 revenue $33.8B, consensus $32.68B. "We are executing on our multipurpose network strategy and producing positive results in each of our five growth vectors, recording strong second quarter results. With more connections on our network than anyone else, our already excellent network performance improved in the quarter and was recognized by RootMetrics as the best overall network performance for the 16th time in a row. We are also expanding our 5G Ultra Wideband and 5G Home markets," said Verizon Chairman and CEO Hans Vestberg. "We are excited about our momentum leading into the second half of the year. We are on track to close both the Tracfone and Verizon Media transactions, and will continue to bring value and choice to our customers."