Verizon to raise prices again

Verizon to raise prices again

Verizon Communications is raising prices on some of its wireless plans as the No. 1 U.S. telecom firm by subscribers looks to boost revenue growth after a post-pandemic slowdown.

Customers on the legacy Mix and Match plans will have to pay $3 more for single lines and $5 more for multiple lines, finance chief Tony Skiadas said at an investor conference on Wednesday.

"We felt it was the right time to take a look at pricing and remove what I'll call the introductory part of the pricing and move to something that reflects the value for what folks are getting," Skiadas said.

The changes will roll out with the September bill cycle and notifications to customers started going out in the last few weeks.

Last month, Bloomberg reported that Verizon was raising the monthly price on its wireless home internet offering by $10.

The company beat second-quarter profit estimates last month and posted a surprise rise in subscriber additions defying analyst expectations for a loss.

But its consolidated operating revenue fell 3.5% in the quarter, after falling nearly 2% in the previous three months.

Rival AT&T had also said in July that it was raising the rates on its retired Unlimited Elite plan, with price increases starting to reflect from the August bill.