Verizon is looking to move on from 2017. The telecommunications and wireless giant suffered from shrinking service revenue, as new unlimited mobile data plans eliminated lucrative overage charges and more customers abandoned Verizon’s wired Fios cable TV service. In a strong year for the stock market and even accounting for Verizon’s rich dividend, shareholders suffered with a total return of only 3.5%. Still, CEO Lowell McAdam finally closed on the acquisition of Yahoo and managed to trim the company’s net debt by $10 billion, or 9%. One other bright spot: Verizon is among the biggest beneficiaries of the massive corporate tax cut, and will get a boost of about $4 billion to its 2018 cash flow.
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Customers who want best quality streaming video must pay more.
5G is needed to bring back growth in revenues.
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This is your Data Sheet newsletter for Friday, June 29, 2018.
The wireless carrier had big plans to draw a generation of cord-cutters into the app.