“To complement this, the team expects to make additional progress across 2023 on the development and implementation of cost efficiency initiatives resulting in a meaningful savings run rate at the end of the year.”

In context

“f lower subscribers versus prior year. To help offset these pressures, we've recently implemented additional pricing actions across our business and consumer segments. We expect to see the benefits of these actions ramp across the second quarter as the business segment began billing customers closer to the end of the first quarter, while consumers started earlier this month. As a result of these combined pricing actions, we anticipate approximately $75 million of incremental quarterly revenue moving forward. Additionally, the consumer team is working to improve efficiencies around device promotions and credits that we expect to yield revenue benefits across the remainder of the year. We believe that the actions the teams are taking will grow the top line driving both EBITDA and cash flow. To complement this, the team expects to make additional progress across 2023 on the development and implementation of cost efficiency initiatives resulting in a meaningful savings run rate at the end of the year. During the first quarter, operating expenses excluding depreciation and amortization were down 2.4% year-over-year, primarily due to lower cost of equipment from reduced upgrade volume which helped to offset an increase in bad debt of approximately $200 million. Similar to involuntary churn rates, bad debt expense reflects the return of collections to pre-pandemic levels. While up year-over-year, bad debt expense is relatively consistent with the prior quarter. Cash flow from operating activities for the first quarter totaled $8.3 billion, compared to $6.8 billion in the prior year. This increase was primarily due to working capital improvements, driven by lower inventory levels, coupled with fewer upgrades and a modest improvement in customer payment patterns, despite the current macroec”