Verizon reported quarterly results that missed estimates and said it lost subscribers despite re-launching unlimited data plans. Alicia Powell reports.
Verizon lost over 300,000 monthly-bill paying subscribers in the first quarter. The company also reported a profit and revenue miss. Shares of the number one U.S. wireless carrier plunged on the news. Analysts say the loss of subscribers could have been much worse if the company didn't launch an unlimited data plan in February. Verizon also went for other potential revenue streams, including an over $4 billion buy of Yahoo's core business. On the earnings call, Verizon chief executive Lowell McAdam said he is open to other deals in the long-term interest of shareholders.