Verizon has revealed its 5G network coverage, revenue, Opex and Capex during the third quarter of 2022.
Verizon’s capital expenditures for the first nine months of 2022 were $15.8 billion, including C-Band spending of $4.5 billion. This compares with $13.9 billion Capex in the first nine months of 2021.
Verizon said it is on track to cover 200 million C-Band POPs within Q1 2023.
Verizon’s C-Band usage surged 170 percent in Q3 over Q2 2022.
Verizon said 40+ million households are covered by Fixed Wireless.
Verizon said majority of 5G sites are connected by Verizon-owned fiber.
Verizon said consumers ended third-quarter 2022 with nearly 53 percent of its postpaid wireless phone customers having 5G-capable devices. Verizon does not reveal its users on 5G network.
Verizon Chairman and CEO Hans Vestberg said: “We are focused on executing our 5G strategy, as we are covering every major market and accelerating our C-Band network build. We are on track to reach 200 million POPs within first-quarter 2023.”
Verizon said capital spending, excluding C-Band, will continue be in the range of $16.5 billion to $17.5 billion in 2022. Additional expenditures related to the deployment of the company’s C-Band 5G network are expected to be in the range of $5 billion to $6 billion for 2022.
Revenue
Verizon has reported revenue of $34.2 billion (+4 percent) in the third-quarter of 2022 thanks to 10 percent rise in wireless service revenue and growth and higher wireless equipment revenue.