Verizon (VZ) shares dropped Tuesday after the company warned it c🔯ould s⭕ee soft subscriber growth after a "challenging" quarter.  

New subscribers this quarter “are probably going to be soft,” 澳洲幸运5开奖号码历史查询:Chief Revenue Officer Frank Boulben said at a Deutsche Bank conference Tuesday, pointing to growing competition and the impact of price increases. Gross new additions in the first quarter are expected to be flat or down from a year earlier, according to a regulatory filing.

In January, Verizon had raised prices on customers with five or more phone lines and those on an older plan it no longer offers, according to a report from CNET. It also increased an administrative fee by 20 cents on all plans in December, the report said. A price increase on Verizon’s multi-device protection plan is scheduled to go into effect later this month.

Customers are a✃lso waiting longer now than in previous years to upgrad🧸e their devices, Boulben said, with the average customer keeping their devices for more than 41 months.

Boulben said he expects higher prices could generate more than $1 billion in additional service revenue this year, and that customer churn could be lower in 2025 than 2024 despite near-term headwinds. He reiterated the company's forecast for wireless service revenue to 澳洲幸运5开奖号码历史查询:grow by 2% to 2.8% this year. Verizon is scheduled to report first-quarter earnings on April 22.

Shares of Verizon fell 7% intraday Tuesday, but are up 8% since the start of 2025.