Verizon hit by prepaid subscriber exodus after internet subsidy ends
The Verizon logo is seen on the side of a truck in New York/ (Reuters) -Verizon Communications missed quarterly revenue estimates on Monday as fewer people upgraded their phones, while its prepaid wireless subscribers fell sharply after a federal internet subsidy ended, sending its shares down more than 6%. The telecom operator said its consumer business lost 624,000 wireless retail prepaid subscribers in the second quarter, blaming the end of the COVID-era Affordable Connectivity Program (ACP) in May for more than half of the losses./ ACP ...
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