On the constructive aspect, the corporate posted stronger-than-expected first-quarter earnings on Tuesday when it reported earnings for the primary three months of the yr. It additionally reported a internet achieve of 174,000 smartphone subscribers even because it misplaced 44,000 telephone subscribers, signaling how tough it’s to search out substantial progress in a aggressive and saturated wi-fi market. Altogether, factoring different gadgets together with wearables, it added a complete of 61,000 wi-fi prospects.
All of this comes as Verizon prepares a serious community overhaul to 5G expertise. This next-generation mobile expertise will supply an enormous velocity enhance and a better, extra responsive community that may join 1000’s of various gadgets round us. However the transformation will not be fast.
Verizon has began to deploy its so-called 5G Extremely Wideband community. It is barely forward of schedule, with service accessible already in choose places in Chicago and Minneapolis, and it expects to have the service up and operating in 30 cities by the tip of the yr. However up to now, there’s only one telephone that may entry the community, Motorola’s Moto Z3. And masking complete cities or metro areas is prone to take a very long time.
Whereas its important rival, AT&T, has been diversifying its enterprise and increasing into new areas like leisure, Verizon has been plugging away on its wi-fi enterprise and has wager the farm on the promise of 5G.
“We’re main the world within the growth of latest applied sciences with the launch of our 5G Extremely Wideband community,” Chairman and CEO Hans Vestberg mentioned in an announcement. “Our ambition stays unchanged to supply probably the most superior next-generation networks on the earth.”
For the primary three months of the yr, the corporate posted earnings of $1.22 per share, which beat analyst expectations of $1.17 per share, in keeping with Yahoo Finance. Web revenues of $32.12 billion have been primarily consistent with analyst expectations, in keeping with Yahoo.
Nonetheless, the information was ok to get premarket buying and selling up a slight 0.55% to $58.70.