Verizon loses subscribers and warns of inflation toll

Verizon Inc.’s first-quarter profits fell 13%, with executives warning that higher consumer prices, heavier corporate costs and rising interest costs would push earnings in the coming months.

The company said Friday that this year’s total revenue from wireless services – the heart of its business – would hit the low end of its previously issued growth target of 9% to 10%. Managers also said that earnings per. share, adjusted to omit certain one-time costs, would come to the low end of their expected range between $ 5.40 and $ 5.55.

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