Verizon sets 5G targets for 2021 - Mobile World Live

Verizon sets 5G targets for 2021

26 JAN 2021

Verizon detailed wide-ranging network expansion plans for 2021, outlining goals to nearly double the number of cities covered by its mmWave-based 5G home internet and mobile edge compute (MEC) services.

On its 2020 earnings call, CEO Hans Vestberg (pictured) said it has a “big year” ahead, noting it aims to add 14,000 mmWave 5G sites to raise its total to more than 30,000 by the year-end.

He added the deployment will allow it to expand the footprint of its mmWave-based 5G mobile and home internet services to at least an additional 20 cities each. It also plans to add MEC sites in ten more cities.

By end-2020, Verizon had deployed mmWave-based mobile 5G in 61 cities; home broadband in 12; and MEC in ten.

Financials
Net profit in Q4 2020 dropped 9.6 per cent year-on-year to $4.7 billion, with revenue flat at $34.7 billion.

Wireless revenue was flat at $25.1 billion, comprised of service turnover of $16.7 billion (up 2.2 per cent); equipment sales of $6.4 billion (5.1 per cent lower) and other at $2 billion (broadly flat).

Verizon added 653,000 mobile subscribers, down from 1.1 million: of this, additions of high-value post-paid phone customers accounted for 279,000, compared with the 791,000 it added in Q4 2019.

Its Media unit posted its first quarter of year-on-year growth since 2017, with revenue up 11.4 per cent to $2.3 billion.

For 2021, Verizon forecast revenue growth of at least 2 per cent and capex of between $17.5 billion and $18.5 billion.

Vestberg said it expects headwinds related to Covid-19 (coronavirus) to continue, highlighting roaming revenue and “subdued” activity among small and medium businesses as key challenges.

Back

Author

Diana Goovaerts

Diana is Mobile World Live's US Editor, reporting on infrastructure and spectrum rollouts, regulatory issues, and other carrier news from the US market. Diana came to GSMA from her former role as Editor of Wireless Week and CED Magazine, digital-only...

Read more

Related

Tags