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Verizon forecasts downbeat annual free cash flow, profit on heavy 5G spending
Jan 24 (Reuters) - Verizon Communications (VZ.N) forecast annual free cash flow and profit below Wall Street estimates on Friday, as the U.S. telecom major spends heavily to expand high-speed internet services and attract customers in a saturating wireless market. The company has been pouring billions of dollars on the C-band spectrum, prized for its balance of speed and range, to improve its 5G offering and outpace rivals AT&T and T-Mobile. The spending is also key to hitting its goal of doubling subscribers for its fixed wireless service to as...