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Telecommunications Network Operators: 1Q23 Market Review

Telco spending staged a modest recovery of sorts in the latest single quarter after consecutive declines in the prior two quarters. Capex grew by 0.8% on a YoY basis to post $77.7B in 1Q23. The modest growth in the latest quarter was not enough to push annualized capex into growth territory. Annualized capex declined by 1.5% YoY to post $322.6B in 1Q23. Despite the decline...

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Matt Walker
Chief Analyst
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