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Verizon CFO talks about Strike and Major Broadband Customers
Verizon CFO Fran Shammo warned investors that the firm’s broadband subscriber additions will substantially damage during the second quarter, possibly sending both TV and broadband internet subscriber counts into negative numbers. Verizon buckled on offshoring, settlement and other problems because the strike hit Verizon where it hurts most: subscriber totals and stock worth.
“Web inclusions of wireline will not be positive for the quarter,” Shammo said.
Our workers will be back to work, we are doing setups for the month of June, so I do not really understand the precise amount that we’ll finish in the quarter because we are in catchup style.
Shammo had formerly said that many customers may have cancelled FiOS orders after setups were delayed. Other customers determined to go with another ISP and may have seen media coverage.
“A man goes into a brand new house, they need service now and you ca’t deliver it, and they’re going someplace else,” Shammo said. “So they’re likely lost for two years,” he added.
The subscriber reach comes as Verizon was seeing impeded broadband subscriber growth, and the TV business was entered by some of the lowest TV subscriber additions since the firm back in 2006.
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