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Verizon lowers full-year guidance after weak customer growth


Verizon Communications Inc. said cash-strapped customers and stiffer competition will strain its business through the end of the year, prompting the company to lower its revenue and profit targets.

But executives said on Friday the gloomier outlook had not shaken their confidence in a strategy that has invested tens of billions of dollars in fifth-generation wireless technology. Verizon is counting on future demand for superfast 5G connections to maintain its position as the nation’s largest wireless carrier by subscribers.

wsj

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