Verizon raises subscriber forecast, inks $2B+ AWS AI deal
Verizon just bumped up its forecast for new wireless subscribers and announced a massive partnership worth more than $2 billion with Amazon Web Services (AWS) to power up AI infrastructure.
Thanks to this deal, Verizon will provide AWS with super-fast fiber connections to boost its AI capabilities.
In the latest quarter, Verizon added 406,000 subscribers, almost double what analysts expected.
Verizon revenue misses, launches simplicity plan
Verizon now expects to add 1.1 million to 1.2 million postpaid phone subscribers this year and has slightly raised its earnings outlook.
Even with strong subscriber growth, third-quarter revenue was $34.3 billion, just shy of predictions, mainly because people are hanging onto their phones longer after Verizon cut device subsidies.
To keep things simple (and attract more users), it rolled out the Simplicity plan in June, offering clearer pricing and streamlined options.