This follows arough first quarterfor the carrier which had a similar decrease in postpaid consumer subscriptions.
Vestberg blamed shrinking consumer budgets due to rising inflation for Verizon’s worse-than-expected financial outcome.
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Its adjusted earnings were $1.31 per share, which was under expectations of$1.33 per shareon Yahoo.
Verizon shares had fallen 3% to $47.66 yesterday after AT&T released its second quarter earnings.
