"After all, this is the same company that's made questionable decisions one after the other for the past four years and now finds itself losing customers to T-Mobile on a regular basis" the company wrote in a blog post Thursday morning.
"There's really only one explanation," T-Mobile went on in its blog post. "Verizon has been #VerHIGHzon this whole time."
T-Mobile CEO John Legere chimed in by blasting the company on Twitter with his creative hashtag.
"We like puppy memes too," Verizon spokesman Bob Varettoni told CNBC in an email. "But today, like every day, we're focused on improving America's most reliable network. We're also busy enhancing our network to handle 3D, virtual reality and holographic puppy memes."
Verizon reported first-quarter earnings and sales before the bell Thursday, both of which missed Street expectations, according to Thomson Reuters consensus estimates. Investors were further concerned with the company's unexpected loss in wireless customers for the period, coupled with a decline in wireless revenue.
T-Mobile said it will be updating its blog post throughout the day with memes and content, "trying to make sense of #VerHIGHzon."