Verizon Surprisingly Loses Postpaid Wireless Customers; Shares Fairly Valued
Tough wireless competition caused Verizon to lose 307,000 net retail postpaid customers this quarter, while both postpaid and total retail customer churn, including prepaid, ticked up to 1.15% and 1.4%, respectively. We affirm our narrow moat rating for the firm despite the escalation in competitive intensity, as we find no evidence that the firm’s scale advantage and spectrum intangible assets are structurally damaged. However, we are lowering our outlook for Verizon’s wireless segment by proje...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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