Verizon Stock Slumps After Warning of Soft Subscriber Growth | Global News Avenue

Verizon(VZStocks fell Tuesday after the company warned that it had a “challenging” quarter.

New subscribers for the quarter “maybe softer”, Chief Income Officer Frank Boulben said at a Deutsche Bank meeting on Tuesday, pointing out the impact of growing competition and rising prices. New additions are expected to remain flat or decline in the first quarter, according to regulatory documents.

According to a CNET report, Verizon raised prices for customers using five or more phone lines in January, and those who were no longer offered in older plans. This also increased the administrative fee for all plans by 20 cents, the report said. The price increase in Verizon’s multi-device protection program is scheduled to take effect later this month.

Nowadays customers have also waited longer to upgrade their devices, with average customers saving their devices for more than 41 months, Boulben said.

Boulburn said he expects additional service revenue from price increases to more than $1 billion this year, and despite recent headwinds, customer churn may be lower in 2025 than in 2024. He reiterated the company’s forecast for wireless service revenue Grow 2% to 2.8% This year. Verizon plans to report first-quarter earnings on April 22.

Verizon shares fell 7% on Tuesday but have grown 8% since the beginning of 2025.