Verizon reported a loss of 289,000 postpaid phone subscribers in the first quarter, surpassing analyst predictions of 185,000. CEO Hans Vestberg attributed this decline to pressures from federal accounts linked to government efficiency cuts, without specifying the exact measures. However, the company did report strong financial performance overall, including an operating revenue of $33.5 billion, exceeding expectations. The outcome comes amid a cautious environment regarding President Trump's policies and contracts with federal agencies, highlighting the complex relationship between government decisions and corporate performance.
Verizon's postpaid phone subscriber loss of 289,000 in Q1 is attributed to federal cuts, exceeding analyst expectations of 185,000. CEO noted government account pressures.
Despite the subscriber loss, Verizon's operating revenue was strong at $33.5 billion, slight surpassing analyst expectations, reflecting resilience in other business metrics.
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