Telecom News Hubb
Advertisement
  • Home
  • News
  • Telecom
  • Contact us
No Result
View All Result
  • Home
  • News
  • Telecom
  • Contact us
No Result
View All Result
Telecom News Hubb
No Result
View All Result
Home News

Verizon ends its slump with strong customer numbers, service revenue growth

admin by admin
January 24, 2023
in News


Carrier ended 2022 with its best customer numbers in seven years

Verizon reported fourth quarter numbers with improved customers numbers and strong growth in service revenue, and company executives said that the company has entered the new year with strong momentum in both wireless and Fixed Wireless Access for home broadband.

However, investors seemed put off by lower guidance and a broader range on earnings per share, and sent the stock down modestly on Tuesday.

Verizon said that it added postpaid phone net additions of 217,000, with retail postpaid net adds of 1.4 million—its “best single quarter performance in seven years,” the company noted.

Verizon said that its success in the quarter was driven by “strong Fixed Wireless Access momentum, tablet and wearables adoption, and sequential improvement in phone net additions.” The company added total broadband net adds of 416,000 (its best performance in more than a decade, it said), of which 379,000 were FWA net adds in the fourth quarter.

CEO Hans Vestberg said that the company’s FWA home broadband offering is mostly being served by its newly C-Band spectrum and that Verizon is using its cell sites to serve mobility, FWA and MEC rather than use separate infrastructure for each function. Asked by an analyst on the company quarterly call how to think about return on investment from Verizon’s C-Band network deployments, Vestberg said that Verizon would not be able to grow its FWA business as much as it has, without that deployment; that it has helped to grow service revenue by fueling customer step-ups on premium plans; and that the company also sees C-band as key to its plans to support private networks and 5G ME—although the latter opportunity has been slower to see enterprise adoption than the operator originally anticipated.

Verizon reported net income of $6.7 billion for the fourth quarter, up 41.4% from the same period last year.

Verizon recorded a loss of 175,000 net prepaid customers in the fourth quarter, which it attributed to a combination of lower gross additions, more aggressive pricing on postpaid plans in the market and its own “deliberate brand rationalization strategy within TracFone … to focus on brands that can generate more long term profitable growth.”

Verizon also said that as a result of fully decommissioning its 3G network, it removed a little more than 900,000 connections from its customer base, including 576,000 consumer and 333,000 business connections; of which 392,000 were wireless postpaid and 237,000 were wireless prepaid connections. The shut-off related figures were excluded from its calculations of wireless retail net additions and wireless churn for the quarter and year.



Source link

Previous Post

5 Channel Partner & MSP Market News Updates: 24 January 2023

Next Post

Ode to the AltNets

Next Post

Ode to the AltNets

Recommended

Private Equity Firm Cube Acquires Firstcolo Data Centers

November 25, 2022

How will the growth of cloud gaming impact telecom providers?

December 8, 2022

5 Channel Partner Program and MSP Market News Updates: 06 December 2022

December 6, 2022

Broadcom boss talks VMware acquisition

November 1, 2022

Woman Says Salon Used Printer Paper to Wax Her Legs

December 3, 2022

Don't miss it

News

Marvel Snap’s new Battle Mode is live

January 31, 2023
Telecom

Walmart Shopper Shows Store Now Sells 2-Pack Sugar Cookies

January 30, 2023
News

The future of broadband service delivery

January 30, 2023
News

What do first responders want from communications tech?

January 30, 2023
News

Helpdesk M&A: SupportLogic Acquires Emtropy Labs for AI-Enabled Support Analytics

January 30, 2023
News

SpaceX Crew Dragon vehicle could be used to evacuate ISS astronauts in an emergency

January 30, 2023

Telecomm-white

© 2022 Telecomm News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • News
  • Telecom
  • Contact us

Newsletter Sign Up

No Result
View All Result
  • Home
  • News
  • Telecom
  • Contact us

© 2022 Telecomm News Hubb All rights reserved.