Verizon CEO Hans Vestberg (pictured) outlined the operator’s emerging growth trajectories during its Q3 earnings call, explaining mobile broadband for consumers is not the only way it is generating 5G revenue.
The executive noted much of Verizon’s long-term growth centres on fixed wireless access (FWA) and mobile edge computing, a factor reflected in it issuing net addition figures for its FWA service for the first time.
Vestberg also highlighted “really good traction on the business side” during Q3, noting SMEs are attracted to the service and predicting FWA growth will offset declines in Verizon’s fixed-line business service revenue.
Verizon reported 55,000 net additions to its FWA service during the quarter, taking its total to 150,000.
Mobile edge compute
Vestberg claimed Verizon is ahead of competitors in mobile edge compute, and is teaching its customers about the technology.
“We are actually creating a totally new market and we are actually alone in this market”.
“Nobody else in the world has launched mobile edge compute at this moment”.
Vestberg explained Verizon distinguishes between three different mobile edge compute models: one using edge infrastructure which is part of the public network; another housing private edge infrastructure on customer premises; and another using a private 5G network.
Verizon is working with customers on all of these, Vestberg continued.
Net income during Q3 of $6.6 billion was 45.5 per cent higher than the comparable period in 2020.
Operating revenue increased 4.3 per cent to $32.9 billion, though the operator noted the rise stood at 5.5 per cent when excluding its Verizon Media business which it sold during the quarter.
Net post-paid phone user additions stood at 429,000.Subscribe to our daily newsletter Back