Verizon lifts annual forecasts as new mobile plans spur subscriber gains

July 24 : Verizon raised its annual forecast for adjusted profit and free cash flow, as the network provider's latest unlimited 5G plans and rewards programs helped it add more wireless subscribers than expected in the June quarter. Shares of the company were up 3 per cent in premarket trading on Friday. The company is in the midst of a strategic transition under new CEO Dan Schulman, rolling out simplified mobile plans, a new loyalty program and bundled wireless-broadband offerings to improve customer additions after trailing rivals in subscriber growth.Verizon gained 184,000 monthly-bill paying wireless subscribers in the second quarter, surpassing estimates of 103,900 additions by analysts polled by FactSet. In June, Verizon overhauled its wireless offerings with the launch of Simplicit