Verizon Puts Focus on Yahoo After Phone Subscriber Slowdown and Pay-TV Losses
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Verizon Communications posted wireless subscriber gains that missed analysts’ estimates, putting pressure on CEO Lowell McAdam to outline how the $4.8 billion deal for Yahoo will help the company augment its maturing phone service business.
The company added 615,000 total monthly mobile subscribers, trailing the 785,000 estimate average of six analysts surveyed by Bloomberg. The nation’s largest wireless carrier gained 86,000 postpaid phone customers in the quarter. Analysts projected a gain of 272,000.
With the wireless industry maturing, Mr. McAdam has pushed Verizon toward acquisitions of internet and advertising technology companies, including AOL and Yahoo, as a way to compete with Alphabet’s Google and Facebook in mobile advertising. Yahoo has millions of users, a collection of websites including Flickr, Tumblr and Yahoo Finance and Sports and some useful digital-ad tech like Flurry and BrightRoll.
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