Verizon Wireless Customers Flee Despite 5G Network Upgrades
Verizon is feeling the competitive heat. The nation's largest wireless carrier suffered a decline in the first quarter and warned that its earnings growth would be at the lower end of its previous expectations. Verizon lost 292,000 consumer postpaid phone subscriptions, the metric used by the industry as an indicator of success. In a Friday press release on its earnings for the quarter, Verizon chalked the loss up to "competitive dynamics." On Thursday, rival AT&T reported first-quarter subscriber gains.
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