American telecom service provider Verizon will invest around $17 billion towards capital spending (Capex) in 2014.
This means, there will be no substantial increase in its 2014 Capex plan as compared with its capital spending in 2013.
Verizon said its Capex reached $16.6 billion in 2013 from $16.2 billion in 2012.
It estimates investments in the range of $16.5 billion to $17 billion for capital expenditures in 2014, with a continued decrease in capital spending as a percentage of total revenues, Verizon said in a statement.
Meanwhile, Verizon revenues rose 3.4 percent to $31.1 billion in fourth quarter of 2013 compared with fourth quarter of 2012.
84 percent of revenues came from Verizon Wireless, FiOS and strategic enterprise services.