Verizon loses post-paid subscribers in Q1 - Mobile World Live

Verizon loses post-paid subscribers in Q1

22 APR 2022

Verizon bosses hailed progress in mmWave and C-Band 5G, along with fixed wireless access (FWA) growth despite the operator reporting an overall loss in mobile subscribers in Q1, a day after rival AT&T posted significant gains.

Post-paid phone losses of 36,000 subscribers year-on-year contrasted with the 691,000 additions AT&T reported yesterday (21 April). However, FWA proved a bright spot for Verizon, accounting for 194,000 of 229,000 broadband net additions during the period.

Verizon is using C-Band and mmWave spectrum for the FWA service.

On its earnings call, CEO Hans Vestberg noted Verizon is deploying C-band at pace, boosting customer experience “while also accelerating and amplifying our 5G revenue opportunities”.

Verizon reported net income of $4.7 billion, down from $5.4 billion in Q1 2021, on revenue of $33.6 billion, up slightly from $32.9 billion.

Wireless service revenue grew 9.5 per cent to $18.3 billion.

The operator reported 35,000 wireline broadband net additions, driven by 60,000 Fios Internet adds: it does not break out subscribers losses for its DSL service.

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Mike Robuck

Mike Robuck is the U.S. Editor at Mobile World Live. He joined the Mobile World Live staff in February of 2022. Prior to joining GSMA, he was editor of FierceTelecom and of Light Reading’s Telco Transformation microsite. He has a...

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