Verizon added 558,000 net new phone subscribers during the fourth quarter, a 30% increase on an annual basis.
decided to refrain from starting C-band service near some U.S. airports as regulators worry that 5G C-band signals can interfere with airplane altimeters making it dangerous to land an airplane during periods of poor visibility.Last year, Verizon spent $2.1 billion on C-band 5G as the carrier embarks on a plan to offer these mid-band 5G signals in 46 markets.
During the fourth quarter, the nation's largest carrier reported a net addition of 1.058 million retail postpaid customers in with 558,000 phone subscribers. Dividing that up, consumer postpaid net additions came to 667,000 with 336,000 of them counting as phone subscribers. With over 1 million net additions in postpaid during the fourth quarter of 2021, Verizon saw a huge improvement compared to the 279,000 net increase it announced during the same quarter one year ago. On a sequential basis, the 558,000 net additional postpaid phone subscribers added in Q4 topped the 429,000 that the carrier reported during Q3 of 2021 by 30%. As 2021 came to an end, Verizon had 142.8 million retail connections.Wireless service revenue rose 6.5% to $17.8 billion.
Commenting on the results, Verizon CEO Hans Vestberg said,"2021 was a transformational year for Verizon that will serve as a catalyst for us. We delivered on all of our goals in 2021 and made great progress on our five paths of growth, finishing the year with strong operating and financial momentum."
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