Verizon saw a great Q1 for private wireless. 🎉 Verizon's Q1 earnings call took place yesterday and if you are anything like me you were anxiously listening to Hans Vestberg looking for clues to the #privatewireless business at team Red. According to Hans, Verizon had a "great quarter in private wireless." This statement was underwritten by examples of "transformative deals". Hans offered Cummins Inc. as a shining example of those deals. There was also some insight given to the strategy Verizon Business is leveraging. "The numbers are many while the [revenue] values are still small.", Hans said. Later there was talk about building a [customer] base that over time will create upsell opportunities. Taken collectively I see that Verizon is focused on landing transformative customers today, starting small, and targeting huge long-term potential. Here at Cradlepoint, part of Ericsson, we see the same strategy being deployed by the end customers. They look for potentially transformative projects, start with small deployments having the quickest ROI, and plan to expand to additional use cases to capture the upside. I see this strategy primarily playing out in mining, manufacturing, and ports where organizations have several facilities and potential use cases for #private5g. Cheers to Verizon for a great quarter! 🍻 https://lnkd.in/ebkVuJBw
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Verizon Communications Inc. (NYSE:VZ) notched up a fourth successive quarter of broadband customer additions of more than 400,000 in the third quarter although revenue and net income fell back. The Delaware-based #telco said the company's performance was highlighted by continued wireless service revenue growth, total broadband net additions, and improving profitability. Total operating revenue of $33.3 billion, was down 2.6% on the year prior, while net income of $4.9 billion, was 2.8% lower. Adjusted EPS fell to $1.22 from $1.32 before. Adjusted Ebitda did rise, marginally, by 0.2% to $12.2 billion, and the firm saw total broadband net additions of 434,000, the fourth consecutive quarter that it has reported more than 400,000 #broadband net additions. Verizon said it now has around 10.3 million total broadband subscribers, including nearly 2.7 million subscribers on its fixed wireless service. More at #Proactive #ProactiveInvestors http://ow.ly/35iX104YRv2 #NYSE #VZ
Verizon ups free cash flow guidance as broadband users rise
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#VerizonCommunications Inc. (NYSE:VZ) notched up a fourth successive quarter of broadband customer additions of more than 400,000 in the third quarter although revenue and net income fell back. The Delaware-based telco said the company's performance was highlighted by continued wireless service revenue growth, total broadband net additions, and improving profitability. Total operating revenue of $33.3 billion, was down 2.6% on the year prior, while net income of $4.9 billion, was 2.8% lower. Adjusted EPS fell to $1.22 from $1.32 before. Adjusted Ebitda did rise, marginally, by 0.2% to $12.2 billion, and the firm saw total broadband net additions of 434,000, the fourth consecutive quarter that it has reported more than 400,000 broadband net additions. Verizon said it now has around 10.3 million total broadband subscribers, including nearly 2.7 million subscribers on its fixed wireless service. More at #Proactive #ProactiveInvestors #NYSE #VZ http://ow.ly/3qtS104YTvl
Verizon jumps on strong 3Q earnings beat
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Driving revenue growth and cultivating lasting client relationships through strategic sales initiatives and dynamic leadership.
🚀 Exciting News from AT&T in 2023! 🚀 AT&T has had an exceptional year, achieving remarkable results that have surpassed initial projections. With growth in adjusted EBITDA, mobility service revenue, broadband revenue, and free cash flow, AT&T has proven its resilience and adaptability in a dynamic market landscape. What's more, AT&T has continued its commitment to innovation by investing in expanding the largest and most reliable 5G and fiber networks across the US. This strategic move not only solidifies AT&T's position as a leader in telecommunications but also sets the stage for future advancements in connectivity. Looking forward to 2024, the outlook remains promising, with forecasts indicating sustained growth in revenue and adjusted EBITDA. This reaffirms AT&T's dedication to driving progress and delivering value to its customers and stakeholders alike. Check out the full report to dive deeper into AT&T's impressive achievements and future prospects! #channelpartners #AT&T5G #AT&TLiFe #fibernetworks Read the report here: https://ow.ly/lOXT50QKLSg
AT&T had a successful year in 2023, delivering solid results that exceeded their initial guidance. The company experienced growth in adjusted EBITDA, mobility service revenue, broadband revenue, and free cash flow, surpassing their expected targets. AT&T also continued to invest in expanding the largest and most reliable 5G and fiber networks in the US. Looking ahead to 2024, the outlook forecasts continued revenue and adjusted EBITDA growth. Read the rest of the report below! #channelpartners #5G #fibernetworks https://ow.ly/lOXT50QKLSg
AT&T Delivers Strong 2023 Results Driven by 5G and Fiber Growth
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"C-band is a game change for our business," Hans Vestberg said of the midband spectrum Verizon is adding into its #5G network. "Our network is winning." Verizon counts about 222 million people covered with its midband C-band network, a figure the company hopes to increase to 250 million by the end of next year. AT&T, meanwhile, said it ended the third quarter covering 190 million people with its own midband 5G network, and said it remains on track to cover 200 million by the end of the year. T-Mobile, for its part, announced Tuesday it now covers 300 million people with its 2.5GHz midband network, reaching that goal three months earlier than the company had planned. Verizon officials said the company is using the capacity in its midband 5G network to pursue opportunities like fixed wireless access (FWA) and private wireless networks. "We see demand for the product continuing to grow," Vestberg said of Verizon's private wireless network offerings. In response to a question on the topic, Vestberg said that Verizon is working to transition its private wireless customers from pilots to commercial deployments. He also said the company is growing its ecosystem of suppliers for that business. But he stopped short of offering any firm numbers. "We're not going to see any significant revenues" from private wireless in 2024, he said. "We're going to see that in 2025 ... I see this as a great opportunity." https://lnkd.in/g_WDmQba #privatewireless
Verizon jumps too as mobility biz surprises in Q3
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💼💨 Unlocking the SD-WAN Revolution! 💨💼 Carriers like Verizon used to have the keys 🔑 to the connectivity kingdom with MPLS. But times have changed! Now, with SD-WAN, the pie's getting sliced differently. Carriers, SD-WAN vendors, and connectivity providers all get a piece, but guess who's taking the biggest bite? 🚀🌐 Dive into the transformation with our this article by Fierce Telecom! 💻📈 #SDWANRevolution #ConnectivityEvolution #TechShift #SDWAN
SD-WAN catches up with Verizon Business, which takes a $5.9 billion impairment charge
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It looks like the future for #FixedWirelessAccess #FWA is bright in the United States :) Probably elsewhere as well. I think so far that's the only "net new" service that CSPs have been able to launch for net new revenue out of 5G. So if the 5G upgrade expanded internet access to millions of new potential customers - the upgrade cycle has already been worth it.
NEW A top Verizon executive said the operator expects to have 4 million to 5 million fixed wireless access (FWA) customers by the end of 2024. And he said that Verizon will unveil its growth plans for FWA beyond that target at some point in the future. "We're committed to getting to 4-5 million FWA customers, and then we'll come back and explain how we'll grow beyond that," Sowmyanarayan Sampath, EVP and CEO of Verizon's consumer business, said Tuesday at the MoffettNathanson Media Internet Communications Conference. Sampath said Verizon currently has enough network capacity to support 4-5 million FWA customers, its target for this year. "We're going to have to come back and explain where we want to grow that business longer term," he said. The financial analysts at TD Cowen recently predicted the FWA market will continue to grow. "We expect T-Mobile and Verizon to increase their long-term FWA sub targets," they wrote in a recent note to investors. They predicted that T-Mobile will gain around 1.3 million more FWA customers this year, while Verizon will increase its total by 888,000 in 2024. Verizon in 2022 said it would ultimately gain 4-5 million FWA customers by 2025. T-Mobile expects to gain 7-8 million by that time. According to the TD Cowen analysts, Verizon is around 68% of the way there with roughly 3.42 million FWA customers at the end of the first quarter. MORE: https://lnkd.in/grB-XkxK
Verizon hints at FWA expansion next year
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Director @ AT&T Intellectual Property | Founder, Co-Chair of Washington Intellectual Property Alliance
The recently released end-of-year results revealed another impressive year for AT&T. The results were largely driven by the growth in both 5G and fiber, while a significant cut in expenses also helped to bolster the overall profits. For the full year, AT&T's revenues totaled $122.4 billion, a 1.4% increase. Operating expenses decreased to $99 billion while operating income reached an impressive $23.5 billion. Overall, AT&T's strong performance in 2023 highlights its commitment to innovation and improving network capabilities. #TEAMATT #EndOfYearResults #5G #Fiber https://lnkd.in/g2W7gBQh
AT&T Delivers Strong 2023 Results, Cash from Operations and Free Cash Flow Driven by 5G and Fiber Growth
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NEW Sluggish growth "During the first quarter, our Internet customer growth remained challenged by a low move and generally low activity environment, coupled with continued elevated competition at least in the short term and a small impact from fewer low income connects due to discontinued ACP availability," explained Charter CEO Chris Winfrey during his company's quarterly conference call, according to Seeking Alpha. According to the financial analysts at TD Cowen, big cable companies like Charter and Comcast collectively lost 186,000 customers in the first quarter, ahead of their estimates of 141,000. "Cable has lost subscribers for a fourth consecutive quarter and [it's] getting worse," the analysts wrote. "The Broadband market is clearly maturing and churn is at historic lows, meaning there are less [customer] adds to go around. Therefore, even with FWA [fixed wireless access] adds trending lower, Cable will continue to struggle to grow subscribers in the near-to-mid-term." The situation is somewhat similar on the mobile side of the US telecom industry. Although AT&T, Verizon and T-Mobile collectively reported more postpaid phone growth than expected, the TD Cowen analysts noted their gross customer additions were "light across the board." At T-Mobile specifically, some analysts worried that growth appears increasingly hard to generate in general. For example, the financial analysts at MoffettNathanson wrote that T-Mobile's figures during the first quarter "were met only after adopting a dramatically sweetened free-iPhone offer in the waning days of the quarter. That offer was pulled as soon as the quarter ended." Continued the analysts: "Industry growth is slowing, Cable is taking share (and threatens re-pricing the industry lower in the process), and the ever-lengthening upgrade cycles for handsets have to reverse eventually. None of that is terrifying. But it is worrying." MORE: https://lnkd.in/d7D3yR4A
Things are getting tight for US telecom network operators
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NEW A top Verizon executive said the operator expects to have 4 million to 5 million fixed wireless access (FWA) customers by the end of 2024. And he said that Verizon will unveil its growth plans for FWA beyond that target at some point in the future. "We're committed to getting to 4-5 million FWA customers, and then we'll come back and explain how we'll grow beyond that," Sowmyanarayan Sampath, EVP and CEO of Verizon's consumer business, said Tuesday at the MoffettNathanson Media Internet Communications Conference. Sampath said Verizon currently has enough network capacity to support 4-5 million FWA customers, its target for this year. "We're going to have to come back and explain where we want to grow that business longer term," he said. The financial analysts at TD Cowen recently predicted the FWA market will continue to grow. "We expect T-Mobile and Verizon to increase their long-term FWA sub targets," they wrote in a recent note to investors. They predicted that T-Mobile will gain around 1.3 million more FWA customers this year, while Verizon will increase its total by 888,000 in 2024. Verizon in 2022 said it would ultimately gain 4-5 million FWA customers by 2025. T-Mobile expects to gain 7-8 million by that time. According to the TD Cowen analysts, Verizon is around 68% of the way there with roughly 3.42 million FWA customers at the end of the first quarter. MORE: https://lnkd.in/grB-XkxK
Verizon hints at FWA expansion next year
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