Bengaluru, NFAPost: Verizon said it will spend between $17 billion and $18 billion on capex covering 5G expansion, LTE densification and adding fiber during 2020.
During the fourth quarter financials report announcement, the telecom major also provided capex guidance in the $17 billion to $18 billion range.
Besides 5G focus, the company also stated that it will invest further for densification of the LTE network and the continued deployment of fiber optic cabling.
Expressing happiness over company’s performance, Verizon CEO Hans Vestberg said the company delivered a strong operational performance in the fourth quarter, highlighted by continued wireless customer growth in both consumer and business.
“In 2019, Verizon drove innovation in 5G, established a new operating structure and delivered solid financial results. We entered 2020 with great momentum as we expand our network leadership and remain focused on the customer to provide a best-in-class experience. Our 5G footprint continues to grow as we lead this era of transformational change by building these next-generation networks the right way,” said Verizon CEO Hans Vestberg.
Verizon’s business group reported total revenue of $8.1 billion, less than a 1% year-over-year increase. The consumer business revenue was up 2% year-over-year to $24.2 billion. Total operating revenue was up 1.4% compared to the same quarter in 2018.
For 2020, Verizon said it will spend between $17 billion and $18 billion on capex covering 5G expansion, LTE densification and adding fiber. In terms of revenue, the company expects “low-to-mid single-digit percentage growth…compared to full-year 2019.”
Speaking last week with CNBC during the World Economic Forum in Davos, Switzerland, Verizon CEO Hans Vestberg said he expects the 5G mobile service to yield revenue in the 2021 timeframe.
“On network investments, the company is building the network in a new way so we fit in everything. We do a lot of fiber, we do a lot of 4G, we do a lot of 5G, and we do it all at once,” he said.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is celebrating its 20th year as one of the world’s leading providers of technology, communications, information and entertainment products and services.
Headquartered in New York City and with a presence around the world, Verizon generated revenues of $131.9 billion in 2019. The company offers voice, data and video services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.
Verizon Business recently expanded its Software Defined-Wide Area Network (SD WAN) portfolio to include the Silver Peak Unity EdgeConnect edge platform as a managed service offering. Verizon’s SD WAN portfolio provides enterprises with new optionality to transition to an SD WAN with integrated WAN Optimization environment for the management of business applications.
