Verizon reports industry leading 143 million retail connections

Verizon reported its first-quarter numbers on Friday and this quarter happened to include the launch of its 5G C-band network. This was important to the carrier because when it started building out its mobile 5G pipeline, Verizon decided to work on its 5G mmWave high-band service first. But those signals don't travel too far and are easily blocked by structures. So while mmWave delivers the fastest 5G download data speeds, good luck trying to find a signal.

All of this exciting drama took place in the first quarter of 2022, which happens to be the time period covered by today's earnings release. And while it might not have had anything to do with the change in Verizon's Ultra Wideband coverage, the carrier did lose 36,000 net retail postpaid phone accounts in the first quarter of 2022. That beat estimates of a 49,000 decline and was an improvement of 79.

Retail postpaid phone churn was .83% while retail postpaid churn was 1.04%. Retail prepaid churn was 3.69% (prepaid churn is typically higher than postpaid as subscribers can decide to select a new carrier at the end of every month. Total retail churn rose from last year's Q1 figure of 1.14% to 1.48%.

Wireless Service revenue rose 9.5% to $18.34 billion, and equipment sales rose 28.2% to $6.34 billion. Total wireless revenue for Verizon came to $26.5 billion during the first quarter, up 11.7%. Verizon now expects revenue growth in wireless service for all of 2022 to come in at the bottom of its 9% to 10% range.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla earnings 'strong,' but Wall Street 'not willing to bet on' latest robotaxi vehicleAfter Tesla reported record quarterly earnings, its stock rallied more than 7% Thursday. $TSLA has risen more than 41% in the past 12 months, compared with gains of around 7% for the S&P 500 index: We don't buy bitcoin We earn bitcoin from mining I'm ready to show 5 lucky people on how to earn 1 ($40,320) and more daily! No referral No withdrawal fees Interested people only Kindly send us a Dm Just wondering is a 211 P/E ratio good? I think Ford is 6. What does one bad quarter do to Tesla? Pfizer
Source: MarketWatch - 🏆 3. / 97 Read more »

Stocks fall on Wall Street following Fed chief's commentsStocks shed early gains and ended broadly lower on Wall Street Thursday after the head of the Federal Reserve said the central bank needs to take more aggressive action to fight high inflation. In a panel discussion held by the International Monetary Fund, Fed Chair Jerome Powell said the Fed must move faster than it has previously to tackle inflation, which suggests sharp interest rate increases are likely in coming months. And if I had a stock portfolio, that might mean something to me.
Source: AP - 🏆 728. / 51 Read more »

Stocks fall sharply as Wall Street nears third losing weekStocks are tumbling on Friday as the sharp, recent surge in interest rates keeps weighing on Wall Street
Source: WOKVNews - 🏆 247. / 63 Read more »

Wall St slumps as weak earnings, rate hike clarity spook investorsWall Street tumbled more than 2.5% on Friday, ensuring the three main benchmarks ended in negative territory for the week, as surprise earnings news and increased certainty around aggressive near-term interest rate rises took its toll on investors.
Source: Reuters - 🏆 2. / 97 Read more »