Verizon Communications added 393,000 fixed wireless connections in the first quarter of 2023, up from 379,000 in the prior quarter.
Hans Vestberg, CEO of Verizon, told investors that broadband is a major growth area for the company across the consumer and business segments. "We achieved the highest net adds in over 10 years, adding 437,000 total net adds within the quarter, including 67,000 net adds from Fios (fibre-to-the-building). We are very pleased with the Fios performance with net adds up 12% year-over-year. For fixed wireless access (FWA), we're seeing growth quarter after quarter after quarter with 1.9 million subscribers at the end of the first quarter, fixed wireless continues to scale and contribute increasingly to our revenue performance.
"Our business customers are increasingly turning to fixed wireless access as their primary source of broadband connectivity. Won over by the reliability and the overall value of the product. In addition to taking share from our competitors, we're also seeing new use cases across all of our customer groups leveraging the flexibility of the product to expand beyond what traditional wired broadband can do." Source: Verizon earnings transcript
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