The Wireless Competitive Environment Again Hits Verizon's Growth; Shares Modestly Undervalued
Verizon posted its second consecutive quarter of soft wireless customer growth as the competitive landscape remains intense. The firm lost 36,000 net postpaid phone customers during the third quarter versus a gain of 430,000 a year ago, primarily as a result of weak customer inflows rather than a spike in defections. Management commented that promotion of new unlimited plans (likely primarily at T-Mobile and Sprint) hurt Verizon’s ability to attract customers for around three weeks during the qu...Verizon Communications is a holding company. Through its subsidiaries, the company provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The company has two reportable segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business). The company's Consumer segment provides consumer-focused wireless and wireline communications services and products under the Verizon brand and through wholesale and other arrangements. The company's Business segment provides, among others, wireless and wireline communications services and products, video and data services, corporate networking solutions, security and managed network services.
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