Verizon, a leading telecommunications company, is ramping up its efforts to promote its fixed and mobile service bundles to customers in its Fios service area. During the company’s fourth quarter earnings call in 2022, CEO Hans Vestberg emphasized the growing trend among consumers and small to medium businesses to opt for a single provider for both home broadband and wireless services. As a result, Verizon is doubling down on its efforts to sell these bundled services to its Fios subscribers and SMBs in search of more streamlined and convenient options. This strategy builds on the company’s already established offering of mix and match bundles since early 2020, as Vestberg noted the clear advantage for customers to have their home and mobile services under one roof.
Vestberg noted that while Verizon views fixed wireless and Fios as similar in terms of product bundling, there may be more potential for growth in the Fios market. This is because fixed wireless is a newer product that attracts new customers and discussions about bundling benefits start from the moment of sign up. In contrast, the Fios market is more established, and these conversations about bundling may not be happening as frequently. Vestberg stated that there is a “big opportunity” for Verizon to offer both fixed and mobile services to Fios customers, while new customers switching from cable providers to fixed wireless access are already in a “strong position” with many already having Verizon wireless services.
Verizon Business Metrics
In the fourth quarter of 2022, Verizon experienced a strong surge in broadband customer growth, adding a total of 416,000 customers, marking its best performance in over a decade. According to CEO Hans Vestberg, the majority of these gains, 379,000, came from its fixed wireless offerings, with an additional 59,000 Fios customers and 37,000 wireline net additions. However, the company saw a loss of 22,000 DSL subscribers.
Verizon ended the quarter with 17.1 million Fios locations available for sale and over 40 million households covered by its fixed wireless access. The company’s consolidated revenue reached $35.3 billion, a year-on-year increase of 3.5%, with Fios revenue remaining flat at $3.2 billion across both consumer and business segments. The company also saw a significant jump in net income, reaching $6.7 billion, a 41.4% increase.
About Verizon
Verizon Communications Inc. is a telecommunications and technology company based in the United States. Founded in 2000, the company has its roots in the merger of Bell Atlantic and GTE Corporations. Since then, Verizon has grown to become one of the largest telecommunications companies in the world, offering a wide range of services including wireless, broadband, and internet services.
Verizon was one of the first companies to launch 4G LTE network services, and it has continued to invest in its network to ensure that it remains at the forefront of technology and innovation. The company offers a range of mobile devices, including smartphones and tablets, and it provides mobile services to millions of customers across the country.
In addition to its mobile services, Verizon is also a major player in the broadband and internet services industry. The company’s Fios brand offers high-speed internet, television, and phone services to customers in select areas. Verizon’s broadband and internet services have been recognized for their reliability and speed, making it one of the top providers in the United States.
Over the years, Verizon has made strategic acquisitions and partnerships to expand its business. It has also developed a range of products and services aimed at businesses, including cloud computing, cybersecurity, and managed services.
With a focus on innovation and a commitment to providing high-quality services, Verizon has become a leading player in the telecommunications industry. It continues to invest in new technologies and services to meet the evolving needs of its customers. Today, Verizon serves millions of customers in the United States and around the world, and it remains a trusted and reliable provider of telecommunications services.
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