Verizon has revealed its 5G network coverage, revenue, Opex and Capex during the third quarter of 2022.
Verizon’s 5G network coverage

Verizon’s capital expenditures for the first nine months of 2022 were $15.8 billion, including C-Band spending of $4.5 billion. This compares with $13.9 billion Capex in the first nine months of 2021.

Verizon said it is on track to cover 200 million C-Band POPs within Q1 2023.

Verizon’s C-Band usage surged 170 percent in Q3 over Q2 2022.

Verizon said 40+ million households are covered by Fixed Wireless.

Verizon said majority of 5G sites are connected by Verizon-owned fiber.

Verizon said consumers ended third-quarter 2022 with nearly 53 percent of its postpaid wireless phone customers having 5G-capable devices. Verizon does not reveal its users on 5G network.

Verizon Chairman and CEO Hans Vestberg said: “We are focused on executing our 5G strategy, as we are covering every major market and accelerating our C-Band network build. We are on track to reach 200 million POPs within first-quarter 2023.”

Verizon said capital spending, excluding C-Band, will continue be in the range of $16.5 billion to $17.5 billion in 2022. Additional expenditures related to the deployment of the company’s C-Band 5G network are expected to be in the range of $5 billion to $6 billion for 2022.

Revenue

Verizon has reported revenue of $34.2 billion (+4 percent) in the third-quarter of 2022 thanks to 10 percent rise in wireless service revenue and growth and higher wireless equipment revenue.