Verizon Communications Inc (VZ.N), the No. 1 U.S. wireless carrier, reported a 20 percent fall in quarterly profit as it lost wireless postpaid subscribers despite the re-launch of unlimited data plans.<\/p>\n
Net income attributable to the company fell to $3.45 billion (2.69 billion pounds), or $0.84 per share, in the first quarter ended March 31, from $4.31 billion, or $1.06 per share, a year earlier.<\/p>\n
Verizon said it lost 307,000 retail postpaid subscribers on a net basis in the first quarter. Analysts on average were expecting net additions of 222,000, according to market research firm FactSet StreetAccount.<\/p>\n
Verizon is struggling to fend off smaller rivals T-Mobile US Inc (TMUS.O) and Sprint Corp (S.N) in a maturing market for U.S. wireless service.<\/p>\n
In February, Verizon announced that it would offer an unlimited data plan for the first time in more than five years, following which other companies sweetened their unlimited offerings.<\/p>\n
Total operating revenue fell to $29.81 billion for the fourth straight quarter from $32.17 billion a year earlier.<\/p>\n
–<\/p>\n
Source: Reuters<\/p>\n","protected":false},"excerpt":{"rendered":"
Verizon Communications Inc (VZ.N), the No. 1 U.S. wireless carrier, reported a 20 percent fall in quarterly profit as it lost wireless postpaid subscribers despite the re-launch of unlimited data plans. Net income attributable to the company fell to $3.45 billion (2.69 billion pounds), or $0.84 per share, in the first quarter ended March 31, […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[106],"tags":[1492,4117],"class_list":["post-312506","post","type-post","status-publish","format-standard","hentry","category-technology","tag-citi-trends","tag-verizon"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/312506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=312506"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/312506\/revisions"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=312506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=312506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=312506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}