Verizon’s hit with 127K postpaid phone losses in Q1

https://www.fiercewireless.com/wireless/verizons-hit-127k-postpaid-phone-losses-q1

Verizon’s Consumer division continues to show weakness. In Q1 the Consumer group lost 263,000 postpaid wireless phone subscribers. However, that was offset by the Verizon Business group, which reported 136,000 retail postpaid phone net adds in the quarter.

During the company’s earnings call with investors, CEO Hans Vestberg tried to spin the Consumer group losses into a positive story by touting Verizon’s total postpaid phone gross adds of 2.4 million in the quarter, which is an increase of 5.3% year over year. However, the company’s wireless retail postpaid churn rate also increased in the quarter to 1.15% from 0.95% in Q1 2022.

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Bring Ivan back now!

😂😂😂😂😂😂😂😂😂. I'm sorry for those who remain, but leadership deserves this and much more. Years of arrogance and bad decisions are bearing fruit.

Need a big black woman for CEO. Call World Economic Forum if they have any referrals. Sam path can be her admin.

Angie Kline for CEO!!!!!

UBS predicted a net loss of postpaid subs again for 2q and an even larger loss of prepaid subs. Meanwhile, the earnings call was a parade for Matt.

The Fierce telecom article is so different when reporting VZ financial results than how it was presented to us on the earnings telecast

Sinking ship

Fire Hans

Sampath is an interesting character whose reputation and 'magic sauces' are far bigger, broader, and louder than anything that he has actually completed for the company. In fact, I cannot think of one successful project that he finished. What keeps him in the game is not any telecom knowledge, because there really is none, but that he can spin better tales than his mono-syllabic CEO boss.

VZ is in a commodity business and losing BIG TIME.

He kept lathering the fact that Sampsth is the best in the business during the earnings call. Watch Sampath be out because numbers are not happening. Then what will be the next spin? 🤔

Even the destitute want nothing to do with Verizon.

Hans can talk and spin all he wants. But numbers are numbers. Numbers don’t lie. And don’t forget employees are just a number when it’s RIF time.

Sampath is going to be getting 99% of Hans' attention.

Han's has a way of spinning bad news into good news.

High fives for everyone!

Thread regarding Verizon Communications Inc. layoffs

Verizon’s hit with 127K postpaid phone losses in Q1

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