Verizon Posts Q1 Results, Forecasts Strong 2023 Service Revenue Growth
Overview:
Verizon’s Q1 2023 earnings showcased the company's continued success at boosting wireless service revenue growth with 2.5% YoY increase, while also highlighting its strong 393,000 net adds in FWA in the quarter. Phone net adds however were negative as Verizon had 263,000 postpaid phone net losses while prepaid saw 351,000 net losses in Q1 2023. Upgrade rates remain muted and reflect the overall US market weakness due to macroeconomic pressures. This report goes into further detail on Verizon’s consumer and business performance, as well as gives an update on its C-Band network expansion and FWA growth.
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Maurice Klaehne
Maurice Klaehne is a Senior Analyst with Counterpoint Technology Market Research, based out of Boston, USA. He has spent more than five years working as a market researcher and strategy consultant heavily focused on emerging markets and uncovering new growth opportunities for his clients which include business service, CPG, healthcare, and life science companies. Maurice holds a Master's in International Development and Management from Sweden's Lund University, and an undergraduate degree in Political Science and International Development from Canada's McGill University. He is a native German speaker and also speaks fluent French.
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