Verizon raises annual outlook as new 5G plans boost subscriber growth
Verizon has raised its annual financial forecasts after stronger-than-expected subscriber growth in the second quarter, supported by new unlimited 5G plans, loyalty initiatives and bundled service offerings.
The US telecommunications company said its improved outlook reflects growing customer demand following a strategic shift under new CEO Dan Schulman, who is focused on simplifying mobile offerings and strengthening Verizon's competitive position.
Subscriber growth exceeds expectations
Verizon reported that its latest mobile plans and rewards programmes helped attract more wireless customers than analysts had anticipated during the June quarter.
The company's shares rose around 3% in premarket trading on Friday following the announcement, as investors responded positively to the improved performance and upgraded forecasts.
Strategy focuses on customer retention
The company is currently undergoing a broader transformation aimed at reversing recent challenges in subscriber growth compared with major competitors.
Under Schulman's leadership, Verizon has introduced simplified mobile plans, expanded loyalty benefits and increased bundled offers combining wireless services with broadband products.
The strategy is designed to improve customer acquisition while strengthening relationships with existing users in an increasingly competitive telecommunications market.
Financial outlook improves
Verizon raised its forecasts for both adjusted profit and free cash flow for the year, reflecting confidence in its operational performance and customer trends.
The company expects its updated commercial approach to support long-term growth as demand for reliable connectivity, 5G services and integrated digital offerings continues to expand.
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