Verizon's $5.8B Write-Down Reflects Struggles in Business Unit

Verizon Communications Inc reported a $5.8 billion write-down in the value of its business services division, attributed to ongoing declines and pressures from competition and macroeconomic factors, particularly in its legacy wireline operations. The write-down reflects challenges in its enterprise operations, with the wireline business experiencing a significant decrease in demand. Despite this, Verizon's wireless segment showed growth, and the company continues to focus on expanding its consumer unit.