Thursday, July 22, 2021

Verizon Picks Up Its Network Build Pace

By John Celentano, Inside Towers Business Editor Declaring that its operations are “quickly resuming pre-pandemic norms” compared to a year ago, Verizon (NYSE: VZ) Chairman and CEO Hans Vestburg comments in the company’s 2Q21 earnings call, “We are executing on our multipurpose network strategy and producing positive results in each of our five growth vectors, recording strong second quarter results. We are also expanding our 5G Ultra Wideband and 5G Home markets.”
In that call, the company reported 2Q21 consolidated service revenues of $28.2 billion, up nearly 6 percent over the $26.7 billion in 2Q20. Adjusted EBITDA increased by the same rate to $12.2 billion. For 1H21, free cash flow amounted to $11.7 billion, down nearly 15 percent on a year-over-year basis.

The company ended the quarter with 117.3 million retail postpaid connections and close to 4.1 million retail prepaid connections. The total 121.3 million total retail connections were up over 1 percent YoY. VZ leads all U.S.-based mobile network operators in retail connections; its Consumer markets account for 78 percent of that total. Continue Reading

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