Verizon lost over 300K customers first quarter

Verizon lost a massive 307,000 cellphone customers in its first quarter. The wireless company’s shares (VZ, Tech30) fell nearly 1.5% on the news while their stocks were down 10% this year. Since Sprint and T-Moblie’s stocks are up, Verizon is now facing tougher competition from the smaller companies. This drop disappoints some, as Wall Street analysts previously predicted that Verizon will add more than 200,000 postpaid subscribers in their first quarter. This whopping quarterly loss was a first in Verizon’s history.