Verizon CFO: "we have a lot of people coming off unlimited to go to shared"

Verizon's EVP and CFO, Fran Shammo (pictured), participated in Goldman Sachs Communacopia Conference. Among other things he discussed Shared Data [here] (Vs.) the phased-out unlimited data plans [here]:

"we are surprised on shared from many different aspects.. What I will tell you is obviously when you launch a price plan like this, the first people to go to that price plan are the people that believe that they can optimize their price plan and save a little money. So when you initially launch, you always know that you're going to have some dilution up front.

The good news here is though is the dilution is not as much as we expected. The other good news is we have more people going to shared than we actually anticipated. And the thing that really surprised us is we have a lot of people coming off unlimited to go to shared.

So what customers are understanding and through our good sales routine is once you explain to a customer their usage on a monthly basis, unlimited is just a word, it doesn't really mean anything and that people don't really -- I think a lot of consumers think they consume a lot more data than they really do. So that whole unlimited thing I think is going by the wayside and they see the benefit of going to the shared"

See also "Verizon: Why Shared Data Plans are Good for Our Business" - here.

See "EDITED TRANSCRIPT" - here.