Verizon Communications Inc. reported a larger-than-expected decline in mobile-phone subscribers in the first quarter, the result of heavy competition and less spending by government agencies. The largest US wireless provider recorded a loss of 289,000 monthly phone subscribers, according to a statement Tuesday, more than the 185,500 loss estimated by analysts on average. That’s a significant reversal from the 568,000 subscribers added in the fourth quarter and more than double the decline recorded at the same point last year. Verizon attributed some of the loss to reductions at some federal agencies, as the Trump administration moves to slash thousands of jobs. “We saw some impact of the new government and their efficiency work,” Chief Executive Officer Hans Vestberg told analysts on a call. Verizon, AT&T Inc. and T-Mobile US Inc. are locked in a tight race to win customers in a saturated market. Last month, Verizon Chief Revenue Officer Frank Boulben warned that subscriber numbers were “probably going to be soft” due to an “elevated level of competitive intensity.” After the Christmas holiday, Verizon ended its seasonal promotions, while rivals didn’t, he said. Customers also are keeping their phones longer. The company has increased monthly rates and fees over the past few years to boost revenue, which has been little changed for the last five quarters. To woo new subscribers and to keep current customers from leaving, Verizon this month promised a three-year price guarantee and a free phone trade-in for mobile-phone and home-internet plans. The quarter’s net losses “reflect the impact of recent pricing actions,” Chief Financial Officer Tony Skiadas told analysts on Tuesday, but he said the company still “exited the first quarter with positive momentum.” If prices of mobile handsets increase in the months ahead under tariffs on US imports imposed by President Donald Trump, Vestberg said consumers would be the ones to pay the price. “We will continue to be financially disciplined in whatever promotions we have, but we will not cover any enormous increase on tariffs on handsets,” Vestberg told analysts on the call. “That’s ultimately going to be passed on to consumers.” Verizon and its peers are so far “largely shielded by their US focus and utility-like models” from negative impacts of the tariffs, according to Bloomberg Intelligence. The companies could experience longer-term effects, like customers downgrading from premium phone plans, the analysts wrote. In the shorter term, the companies will see a “stable to slight increase in the handset replacement rate as there was an uptick in consumers buying handsets ahead of the tariffs,” Roger Entner, an analyst at Recon Analytics, said in an email. Verizon didn’t record a gain in device sales in the first quarter, but expects the rate to climb later this year. A decline in immigration rates, which typically drive a portion of new c in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. 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Verizon’s subscriber losses were greater than anticipated in a competitive market.
