Verizon Predicts Sluggish Growth and Another Profit Decline in 2023
Wireless-giant Verizon Communications (NYSE: VZ) ended 2022 on a high note. After losing retail postpaid phone subscribers over the course of the first nine months of 2022, the company managed to tack on 217,000 net postpaid phone subscribers in the fourth quarter. Businesses accounted for about 80% of those gains.
Including all devices, Verizon recorded retail postpaid net additions of more than 1.4 million, the best quarterly performance in seven years, according to the company. This big jump was driven by fixed wireless access, tablets, and wearables.
These figures exclude the impact of the shutdown of Verizon's 3G network, which occurred at the end of the fourth quarter. The end of 3G service led to just over 900,000 wireless postpaid subscribers being removed from the customer base.
Source Fool.com
