"Verizon's Mobile Turnaround: Strong Customer Growth and Cash Flow in 2023"
Verizon Communications Inc. experienced a significant turnaround in its mobile business, adding 318,000 retail mobile subscribers in the fourth quarter, the highest in two years. This growth marks a potential shift for the company, which has been striving to regain market share from competitors. The increase in customers is attributed to new pricing plans and bundles, resulting in a 3.2% rise in wireless service revenue. The company's stock surged, reflecting investor confidence in its strategy, and Verizon's CFO highlighted the success of the new pricing plans. Additionally, the company reported a rise in broadband net additions and an increase in free cash flow.
