Latest news with #TonySkiadas
Hindustan Times
03-05-2025
- Business
- Hindustan Times
Verizon lost nearly 290,000 customers in just 3 months — But why are so many leaving?
Verizon, the American telecommunications company, revealed its 2025 Q1 data last week and it showed a loss of 289,000 postpaid phone customers in a single quarter, The Street reported. The postpaid phone customers are on Verizon's myPlan plans and are not the same as those subscribed to prepaid plans. The postpaid customers are more important to the wireless carriers as they subscribe for longer periods with a carrier, carry phone payment plans, and are the most reliable and steady. Losing postpaid customers is a risky move, especially if it's about 300,000 customers we're talking about. On the other hand, AT&T reported that they've added 324,000 postpaid customers in Q1 of 2025. Similarly, T-Mobile has reportedly been adding more postpaid customers, which won't change in the coming years, as their prices are considerably affordable and don't bug the customers. The company seems to be aware that the price increases have not helped, as their CFO, Tony Skiadas, said 'Our consumer postpaid phone net losses… reflect the impact of recent pricing actions.' Verizon started the price hikes last year by raising prices on older plans like 5G Get More, 5G Play More, 5G Do More, and 5G Start unlimited plans. However, they followed that by only allowing full autopay discounts to come from bank accounts. Further on, they raised smartwatch plan prices and then put a fresh reduction on autopay discounts for older plans by the end of 2024. This year, they raised the price of insurance for myPlan customers with 5 lines or more. As per their Q1 data, customers are not too fond of these changes to their plans. One would also argue that their speeds are not up to the mark – compared to T-Mobile's network coverage and lightning speeds. On the other hand, Verizon has been gaining prepaid customers – adding 137,000 customers in this quarter itself.
The Independent
13-03-2025
- Business
- The Independent
Verizon CFO warns company about this worrying customer trend
Verizon's chief financial officer has raised concerns about a trend in the telecommunications giant's customers. As the cost of living continues to surge worldwide, Verizon's chief financial officer Tony Skiadas revealed that mobile customers in the U.S. are now opting to hold onto their phones for a longer period. A brand-new phone can cost anywhere between $500 and $1,500, and a recent WalletHub survey showed 63 per cent of Americans would not buy a new cell due to inflation. Aside from the substantial expense, Skiadas said one other reason people were hesitant to upgrade as often is that phones are now 'made better.' 'Customers continue by choice to hang onto their phones for longer periods of time', Skiadas told the Morgan Stanley Technology, Media & Telecom Conference earlier this month. 'The average upgrade cycle for us is just over 40 months, it's like 42 months right now. 'So we're coming off a couple of years now where there have been declines in uptake. As always, we might see seasonality in that.' Nevertheless, Verizon continues to grow its business, earning $27.6 billion in total consumer revenue, a 2.2% increase on the year before, The Street reported. And the CFO told the conference Verizon would 'continue to be disciplined in our approach to retention', despite the shift in consumer habits. When pressed on whether they were experiencing a 'supercycle' - a period of strong economic growth with typically strong demand for commodities - he replied 'no'. The latest data from the Social Security Administration, as of 2023, suggest that the average salary in the U.S. is $66,622. Unlike many cost-of-living expenses, new cellphones cost the same nationwide. Wallethub analyst Chip Lupo said: 'This year, consumers are holding off on upgrading their phones, as 63% of people say they won't buy a new phone due to inflation. When day-to-day living costs are already high, it's hard for many people to justify an expensive phone upgrade. 'In fact, nine in 10 Americans think iPhones are overpriced, so Apple and other phone companies may need to consider lowering prices or offering more substantial feature differences between models to entice customers.'
Associated Press
28-02-2025
- Business
- Associated Press
Verizon to speak at Morgan Stanley TMT Conference March 4
NEW YORK, Feb. 28, 2025 (GLOBE NEWSWIRE) -- Tony Skiadas, executive vice president and chief financial officer for Verizon (NYSE, Nasdaq: VZ), is scheduled to speak at the Morgan Stanley Technology, Media and Telecom Conference on Tuesday, March 4, at 11:30 a.m. ET. His remarks will be webcast, with access instructions available on Verizon's Investor Relations website, Verizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its millions of customers live, work and play, delivering on their demand for mobility, reliable network connectivity and security. Headquartered in New York City, serving countries worldwide and nearly all of the Fortune 500, Verizon generated revenues of $134.0 billion in 2023. Verizon's world-class team never stops innovating to meet customers where they are today and equip them for the needs of tomorrow. For more, visit or find a retail location at
Yahoo
28-02-2025
- Business
- Yahoo
Verizon to speak at Morgan Stanley TMT Conference March 4
NEW YORK, Feb. 28, 2025 (GLOBE NEWSWIRE) -- Tony Skiadas, executive vice president and chief financial officer for Verizon (NYSE, Nasdaq: VZ), is scheduled to speak at the Morgan Stanley Technology, Media and Telecom Conference on Tuesday, March 4, at 11:30 a.m. ET. His remarks will be webcast, with access instructions available on Verizon's Investor Relations website, Verizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its millions of customers live, work and play, delivering on their demand for mobility, reliable network connectivity and security. Headquartered in New York City, serving countries worldwide and nearly all of the Fortune 500, Verizon generated revenues of $134.0 billion in 2023. Verizon's world-class team never stops innovating to meet customers where they are today and equip them for the needs of tomorrow. For more, visit or find a retail location at VERIZON'S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at News releases are also available through an RSS feed. To subscribe, visit Media contact:Adi in to access your portfolio
