Verizon sees more subscriber declines, misses on revenue. What is the next chapter?? Where will this leadership take this wireless/wireline communications behemoth??
31 replies (most recent on top)
hans said we had a good quarter,what the he-l,i guess he just B.S us..another one for the books
OMG, tshirt guy, enough with network superiority. Guess what, network performance across the players is a commodity. Consumers don’t care, cause it’s all “good enough” and they can get it elsewhere for a lower cost. He’s a one-note marketer!
If I have to RTO how can I run my sideline realtor business? It’s not right.
Also picked up on Hans enthusiasm for RTO and caught him saying “it should be every day”. 5 days in the office is coming whether you like it or not. Hybrid is going away.
OUCH! Keep trying to spin pathetic results into something positive. The V-Teamers are still drinking the Kool-aid!
Lets not just poke fun. Boomers are also worth their weight in gold.
@hcu+1mjBU0XB ok boomer
You will never get an answer about Rifs from c-suite. Even today's answer was dance around the question, and not even indirectly answering it.
The watch-parties were apparently only advertised for certain locations. Based on the Hans comments, those locations are prime for increased RTO presence.
If you're going to complain about having to come into the office, just don't and find another job. We're all tired of the whiners on this board.
T-shirt guy said he wants to double down on marketing our network superiority.
What a bold move , what vision, so much creativity.
We have never had a commercial talking about how our network is the best before. Neither has our competition.
How about the marketing tshirt guy response? He was asked a direct question and he answered, yes,....what yes? It wasn't a yes or no question. It was more what were your plans and his bs response was basically, people are hard at work. We already know but that means he doesn't have an answer and basically blowing smoke up people's....
Another quarter with poor financials…
Wait until they have to refinance their $156 BILLION in debt at todays high interest rates. The the p-o will hit the fan.
There's no way any corporation is going to answer that question with the level of transparency we would like to see. Sam could have phrased the lead-in a little differently, but if you think for a moment that any company is going to tip their hand (to the employees directly, no less) you'll be waiting for a long time.
I picked up two things - Hans' enthusiasm for "being in person". Reading the tea leaves, I think RTO is going to pick up steam, which is curious given all the building consolidation also happening. Be ready to learn the meaning of "hot desking".
I also think Sam's dodge of the headcount question indicates that everyone should be prepared for BAU with regard to RIFs. They'll continue, probably a thousand or so a quarter until the landscape changes for the better (and it might not improve).
I don't see any bold visions emerging from leadership about what to do to try anything new, so if the current status quo causes you to lose sleep at night, it might be worth looking for the door.
Imagine being asked about employee headcount decreasing, saying you're going to answer the question head on, then give the biggest political response ever. "We're always evaluating the situation to do what's best for our employees and customers."
That is the same response they gave employees when people were asking about raises.
It's shameful how much they really don't care about their employees and insult everyone with that type of generic political response.
Sinking ship
Fios is the future, wireless is dead.
Love Ivan S.
Edit: Employees dropped from 117,100 to 115,500 in Q1. Down 1,600 employees.
VZ employees, labour/craft and management, employees, needing to accept that we are worse off than ever before in the past. Will it ever get better??
AT&T, aka Ma Bell, is any better, #3 of the top 3, so where is Verizon within the ranks??
Reductions of 38,400 employees, exited or pending exit?
The concern is that we keep losing top line revenue. We can no longer step up and add on fast enough to make up for subscriber losses.
Hans keeps alluding to the opening of C Band spectrum as the point where we might get back to network superiority validating our pricing premium.
Will be interesting to see if we choose to hold firm until then, or whether we buy subscribers through aggressive promotions (like AT&T).
Employees dropped from 117,100 to 155,500.
No executive talent.............. Need an US consumer comprehending CEO and new slate for the Board-of-Directors.
$0.01 over analyst estimates while the 'quality' of earnings is down looks a lot like 'earnings management'.
There needs to be a house clearing from the Board down to AVP. Never has there been such a lack of talent running the company.
https://www.cnbc.com/video/2023/04/25/verizon-ceo-hans-vestberg-on-q1-earnings.html
According to the financial sheet retail postpaid is 92,192 and prepaid is 22,231. Percentages were given but analysts are not d-mb.
Verizon Communications (VZ) reported first-quarter adjusted earnings that beat estimates but revenue that missed. Reductions, the telecom giant also reported 263,000 wireless retail postpaid phone net losses in the first quarter. The stock was down 0.3% in premarket trading.
Fools, the party is over. Paramount, it's the VZ debt burden which will be largest hangover and the increased and future increases to the interest rates + inflation. Terrible and unthinkable combination.
What will be the spin, to continued dividend growth versus the thousands of RIFs - reductions in force??
Analysts think ATT did bad, wait until 8:30. Love the new spin on reporting numbers, they provide percentages vs numbers. You have to look at the details.
Verizon Q1 adds 633K subscribers.
What a bunch of losers! Only the woke and broke could manage to steal defeat from the jaws of victory. We traded the best network for best dreams.