Plus: Verizon Communications revenue falls in second quarter. Meanwhile, Charter Communications logs its fourth consecutive quarterly revenue decline. Julie Chang hosts.
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[00:00:01] Here's your afternoon TNB Tech Minute for Friday, July 24. I'm Julie Chang for The Wall Street Journal. President Trump has threatened new tariffs on the European Union. The EU this week announced it would fine Alphabet's Google $1 billion for breaching digital competition rules. In response, President Trump today said that he would direct his government to open a tariff investigation that could result in
[00:00:25] new levies on the EU. The investigation will be run by the U.S. Trade Representative's Office under Section 301 of the 1974 Trade Act. It allows the president to impose tariffs on countries that discriminate against U.S. companies. In the second quarter, Verizon Communications' revenue fell 0.7% year-over-year to $34.25 billion, missing analyst estimates. Verizon attributed the decrease to a
[00:00:53] nearly 20% decline in equipment revenue as customers hold onto their mobile devices longer. The company said it's pursuing new revenue opportunities, including from the AI infrastructure boom, as its turnaround effort continues. Verizon's CEO said today it signed a deal with Google worth over a billion dollars, in which the tech giant will use the carrier's dark fiber to connect its data centers. And Charter Communications logged its fourth consecutive quarterly revenue decline.
[00:01:22] Second quarter revenue edged down by 1.7% to $13.5 billion, roughly in line with estimates. Charter posted a profit of $1.29 billion, below Wall Street expectations. Rising competition from fixed wireless and fiber connection services has been eating into the company's home internet subscriber base, while cord cutting is weighing on its cable business. During the quarter, it lost 172,000
[00:01:49] internet subscribers and 21,000 video customers, but added 406,000 lines to its Spectrum mobile offering. And that's your TNB Tech Minute. Check back Monday for another Quick Tech Update.