Verizon forecast that its reported wireless service revenue growth will now be at the lower end of the previously guided range of 9% to 10% for 2022. The telco is planning capital spending of between 21.5 billion and 23.5 billion US dollars in 2022, as it invests between 5 billion and 6 billion dollars in its C-Band 5G network.
For the first quarter of 2022, Verizon reported an increase in operating revenues of 2.1% year-on-year to 33.6 billion dollars. Wireless service revenue grew 9.5%, reflecting the first full quarter of TracFone ownership. Verizon also reported strong demand for fixed wireless broadband. Source: Verizon statement