11:02 AM EDT, 03/11/2025 (MT Newswires) -- Verizon Communications' ( VZ ) subscriber growth is expected to be "probably soft" in Q1, Chief Revenue Officer Frank Boulben said Tuesday at Deutsche Bank's Media, Internet & Telecom Conference.

"I think it's mostly driven by competition," Boulben said, according to a FactSet transcript. "As far as we're concerned, we have a tough compare year-on-year."

Boulben noted that Verizon dropped out of its holiday promotions at the start of the quarter but its peers did not, increasing the "level of competitive intensity."

In a regulatory filing Tuesday, the company said it expects consumer postpaid phone net additions to be affected by 3-5 basis points of customer turnover in Q1 year over year due to recent pricing actions. It also expects Q1 postpaid phone gross additions to be flat to slightly down from the previous year.

Verizon shares were down 6.6% in recent trading.

Price: 43.43, Change: -3.07, Percent Change: -6.59