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News in English (USA) / 22.10.2024 / 17:00

Verizon Reports Mixed Q3 Results Amid Subscriber Growth and Strategic Shifts

Verizon has announced its third-quarter earnings, revealing a mix of strong wireless subscriber growth driven by flexible 5G plans and a decline in net income by 30%. While the company saw a boost in mobile and broadband subscribers due to its bundling efforts and updated broadband strategies, revenues fell short of estimates, impacted by a slowdown in device upgrades and significant severance charges totaling $1.7 billion. Despite these challenges, Verizon maintains a positive outlook, targeting over 30 million fiber passings by 2028 and emphasizing its commitment to a network expansion strategy. Overall, while subscriber additions exceed expectations, the mixed financial results have led to a notable dip in stock value.
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