Verizon Buys Time as Unlimited Data Entices More Subscribers
- Relieved investors send shares up the most since July
- Largest U.S. wireless provider seeks new sources of revenue
This article is for subscribers only.
The unlimited data plans Verizon Communications Inc. once shunned are now helping the phone giant buy time for its next move.
The all-you-can-use packages the largest U.S. wireless provider introduced this year led to a surge in subscribers for a second straight quarter. The increase gives Verizon more breathing room to create big new sources of revenue in media, advertising or connected cars as it struggles to maintain market share amid a price war. Relieved investors sent the shares up the most since July.