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Reuters
Verizon’s tepid results underscore wireless slowdown, tough competition
Verizon has seen broadband demand surge following its scale-up of the technology behind 5G connectivity, but its fast-growing rivals AT&T Inc and T-Mobile have stayed a step ahead with their focus on promotional activity and 5G network development. High inflation has also prompted customers to put off their device upgrades and seek cheaper plans, offsetting the growth that Verizon recorded with its enterprise customers. Free cash flow, a metric closely watched by investors to help determine dividend payouts, more than doubled to $2.3 billion in the quarter, but came in below the $2.7 billion estimated by 17 analysts polled by Visible Alpha.
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