Verizon loses more subscribers than expected in Q1

(Reuters) – U.S. telecoms operator Verizon Communications Inc said on Wednesday it lost more mobile subscribers than expected in the first quarter, as it faced intense competition from T-carriers. Mobile US Inc and AT&T Inc.

As 5G technology grows in popularity, customers are comparing the different options offered by each of the Big Three carriers, which are making significant investments to modernize their networks.

Verizon lost 178,000 mobile subscribers in the first quarter, more than the 121,700 estimated by FactSet.

The group’s operating income rose about 4% to $ 32.9 billion, but it stands above analysts’ estimate, at $ 32.46 billion, according to IBES data from Refinitiv .

In February, AT&T, Verizon and T-Mobile invested $ 78 billion as part of the government’s public offering of C-band spectrum, seen as the most likely short-term source of spectrum available for 5G networks. next generation.

To finance the purchase, Verizon raised $ 12 billion in the fourth quarter and more than $ 31 billion in March this year, the mobile operator said.

(Akanksha Rana in Bengaluru, French version Federica Mileo, edited by Jean-Michel Bélot)

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