Verizon Communications Inc. (NYSE:VZ) Deutsche Bank 33rd Annual Media, Internet & Telecom Conference March 11, 2025 8:00 AM ET
Company Participants
Frank Boulben – Chief Revenue Officer, Verizon Consumer
Conference Call Participants
Bryan Kraft – Deutsche Bank
Bryan Kraft
Okay. Good morning, everyone. We’re ready to start our first session for the day. So excited to introduce Frank Boulben, who is the Chief Revenue Officer for Verizon Consumer. Welcome, Frank.
Frank Boulben
Good morning, on Bryan.
Bryan Kraft
Maybe we could start off with the competitive landscape. What are you seeing in the market in terms of industry switching activity, retail store traffic, promotion levels, that sort of thing?
Frank Boulben
Before we get started, hopefully, everybody has read the safe harbor behind me. It’s coming. Okay. So jumping right in, this Q1 is a bit unusual. We used to say that the holiday season starts earlier every year, Christmas comes early. This year, Christmas is lasting longer. At the big quarter when we drop out of our holiday promotions, our peers did not. So we’ve seen an elevated level of competitive intensity in the quarter. We continue and have a disciplined approach. When we see less demand we pull out of promotion. When we see demand picking up, like in March, we come back with the new promotion. So it’s been a challenging quarter from a competitive intensity standpoint.
Question-and-Answer Session
Q – Bryan Kraft
Do you think that there’s any softness from an industry standpoint? Is it too early to tell that or is it purely competition that’s maybe [Multiple Speakers] environment?
Frank Boulben
I think it’s mostly driven by competition. As far as we’re concerned, we have a tough compare year-on-year. So gross adds this quarter are going to be probably soft.
Bryan Kraft
Okay. All right, helpful. What is
