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Verizon Sees Another Mobile-Subscriber Stumble After Price Hikes

Hans Vestberg, chief executive officer of Verizon Communications Inc., speaks during TechCrunch Disrupt 2019 in San Francisco, California, U.S., on Wednesday, Oct. 2, 2019. TechCrunch Disrupt, the world's leading authority in debuting revolutionary startups, gathers the brightest entrepreneurs, investors, hackers, and tech fans for on-stage interviews.
Hans Vestberg, chief executive officer of Verizon Communications Inc., speaks during TechCrunch Disrupt 2019 in San Francisco, California, U.S., on Wednesday, Oct. 2, 2019. TechCrunch Disrupt, the world's leading authority in debuting revolutionary startups, gathers the brightest entrepreneurs, investors, hackers, and tech fans for on-stage interviews.Photographer: David Paul Morris/Bloomberg

Verizon Communications Inc. signaled another weak quarter in terms of new subscribers, due in part to price hikes earlier this year. Investors heeded the warning, sending the stock down to near a 10-year low. 

Chief Executive Officer Hans Vestberg, speaking at Goldman Sachs Group Inc.’s media and telecom conference Wednesday, said that the price increases have caused a “churn bubble” in the current quarter. He said raising prices was still “the right decision,” however.