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Verizon Q1 solid, but wireless business has multiple moving parts ahead of 5G

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How 5G will transform business
The next generation of mobile technology, or 5G, has the potential to supercharge the evolution of everything from smart cities and autonomous cars to augmented reality and AI. Larry Dignan and Bill Detwiler talk about 5G and its potential.

Verizon reported a solid first quarter with better-than-expected earnings and outlook for 2019.

The company reported first quarter earnings of $1.22 a share, or $1.20 a share on a non-GAAP basis, on revenue of $32.1 billion.

Wall Street was expecting Verizon to report revenue of $32.16 billion with earnings of $1.17 a share.

Verizon said it added 61,000 retail postpaid net additions including 174,000 postpaid smartphone additions with retail postpaid churn of 1.12 percent with churn of 0.84 percent for phones.

CEO Hans Vestberg touted Verizon’s 5G rollout as a way of “expanding our high-valued customer relationships.”  

Verizon just turned on its 5G network in the US a week ahead of schedule |  CNET: Verizon’s 5G network launch was rocky at best, but it has a plan

Verizon noted that its first quarter capital expenditures were $4.3 billion due to the build out of its 5G network and data and video usage on its 4G LTE service.

In the wireless business, Verizon noted a series of moving parts. For instance, Verizon’s 61,000 retail postpaid net additions in the first quarter included 44,000 net phone losses, 156,000 net tablet losses offset by a 261,000 net adds due to wearable and connected devices.

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Meanwhile, customers are buying higher-priced plans with more connections per account.

Verizon also said it grew its wireline revenue 3.9 percent to $7.3 billion in the first quarter. FioS revenue was up 3.6 percent, but Verizon lost 53,000 FioS video connections and added 52,000 FioS Internet connections.

Media revenue from Verizon Media Group, which includes Yahoo and AOL, had revenue of $1.8 billion in the first quarter, down 7.2 percent from a year ago.

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For 2019, Verizon said it expects adjusted earnings growth in the low single digits, up from flat. Revenue will also grow in the low single digits percentage wise. Capital spending for 2019 will be $17 billion to $18 billion.  

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Bentley’s First Electric Car Will Be Sickeningly Fast

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Bentley’s CEO stressed that the brand will not build an electric vehicle that follows any of the current EV trends. “What we will not do is try and make them look like electric cars,” Hallmark said. He did not reveal what the exterior and body of the EV will be like but hinted at its shape as being “incremental to the current Bentley range of Continental GT coupe and convertible, Flying Spur sedan and Bentayga SUV.” Hallmark added that these models will eventually also switch to fully electric power.

When talking about price, Hallmark said the new EV would be in the range of the Mulsanne despite not being a limousine. Bentley discontinued the Mulsanne in 2020, with prices for models of that year listing as high as $348,000, per Car and Driver. Automotive News Europe reported that one of the versions of Bentley’s EV will cost about $260,000.

The engine will have 1400 horsepower, break 0 to 97 kilometers per hour in 1.5 seconds, and its main attribute will be “effortless overtaking performance from a huge amount of torque-on-demand,” Hallmark said. “If we are 650 hp now with GT Speed, we will be double that with the BEV,” Hallmark explained. The electric Bentley will go into production at the new “Bentley Dream Factory” in Crewe. The plant is part of a $3.4 billion investment for Bentley’s electric future.

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How To Back Up Your Mac To iCloud

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iCloud can come in clutch in a variety of situations. For example, you may not need to wrestle with Migration Assistant when setting up a new Mac if you’ve backed up all your important data to iCloud. However, there’s a reason Apple still puts Time Machine on every Mac the company sells: Time Machine backs up your Mac’s entire system, including all your apps and files. Not only that, but Time Machine also keeps a version history of every change you make to your Mac on an hourly and daily basis.

Depending on the sizes of both your Time Machine drive and your Mac’s internal storage drive, your Time Machine history could stretch back days, months, or even years. Time Machine can be a real lifesaver, too, if the developer of an app you use stops publishing it since you can always just reinstall it from your Time Machine backup. You almost can’t have too many backups of your important data, so there’s not much reason not to take advantage of both Time Machine and iCloud when protecting the files on your Mac. And since both options handle backups differently than the other, you’re not getting duplicate backups but rather a more expansive backup overall.

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Honda Prologue EV SUV Gets First Design Preview Ahead Of US Launch

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Honda has big ambitions for the Prologue, though we’ve expressed skepticism about the automaker’s projected sales targets in the past. Since then, of course, the world has changed considerable. The global fuel crisis — led in no small part by Russia’s invasion of Ukraine — has seen prices spike worldwide, and the car market could have taken on a much different shape by the time Honda’s EV finally hits the ground in 2024. As reported by The Washington Post on May 18, 2022, United States Treasury Secretary Janet Yellen stated that the cost of gasoline has increased by $4 across the country, and there’s no expectation for that to change any time soon.

That requires actually building EVs to meet demand, however, something every automaker has experienced issues with in the past few years. The impact of the ongoing COVID-19 pandemic on global supply chains has been considerable, and shows no signs of alleviating any time soon. Honda may have plenty of demand for the 2024 Prologue, then, but whether it can actually meet that remains uncertain. 

At least the dealerships themselves should be ready for the EV future, even if production lines aren’t necessarily at capacity. The early designs for the modular, charging station-equipped locations show a layout that Honda claims will scale according to the total number of EVs it actually sells. The automaker plans to roll out 30 different EV models by 2030, using not only Ultium but its own Honda e:Architecture, at which point it also expects to have sold a whopping 500,000 EVs overall.

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