Image source: Getty Images. Just as rival AT&T (NYSE: T) freed itself from the yoke of its Warner Media division so that it can now narrowly focus on its telecom business, Verizon released an earnings report that was underwhelming, to say the least. It's losing customers while AT&T is gaining them, revenue growth is now forecast to come in at the low end of previous guidance, profits are falling, and the broader issues confronting the rest of the economy -- rampant inflation, rising labor costs, and higher fuel and electricity prices -- are hitting the carrier hard, too.