Verizon hit by prepaid subscriber exodus after internet subsidy ends

Quick Summary:

:Verizon Communications missed quarterly revenue estimates on Monday as fewer people upgraded their phones, while its prepaid wireless subscribers fell sharply after a federal internet subsidy ended, sending its shares down more than 6 per cent.

Shares of AT&T, T-Mobile US and Charter Communications and Comcast were down between 1.3 per cent and 3 per cent.

The company had lost 68,000 subscribers in the previous quarter.

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Article Details

Category: EconomyBusiness

Markets: SingaporeUnited States

Topics: Subscribers Verizon Revenue Communications People Wireless Missed Estimates Cent Quarter Phones

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-22 @ 19:12:31 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 399 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 21733132

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 39 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 50 minutes ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #27

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