Verizon updates broadband strategy to bring more choice, flexibility and value to millions

Core Insights - Verizon has achieved its fixed wireless access subscriber target 15 months ahead of schedule, with a current total of nearly 4.2 million fixed wireless subscribers, reflecting a year-over-year increase of nearly 57% [2][3] - The company aims to double its fixed wireless subscribers to 8-9 million by 2028 and expand coverage to 90 million households [2] - Verizon's fiber network is expected to grow to 35-40 million passings over time, with the acquisition of Frontier expected to add approximately 9-10 million fiber passings [3] Fixed Wireless Access - Verizon's fixed wireless subscribers have increased significantly, reaching nearly 4.2 million by the end of Q3 2024, which is a nearly 57% increase year-over-year [2] - The company plans to double its fixed wireless subscriber base to 8-9 million by 2028, with coverage expansion to 90 million households [2] - The launch of advanced mmWave solutions for high-density areas is expected to enhance deployment efficiency and reduce costs [2] Fiber Network Expansion - Verizon is targeting an expansion of its Fios builds to up to 650,000 passings annually in 2025, with a combined build of up to 1 million or more passings annually post-Frontier acquisition [3] - The company anticipates more than 30 million fiber passings in the combined Verizon/Frontier footprint by 2028, with a long-term goal of 35-40 million passings [3] - The integration of Frontier's fiber network into Verizon's existing Fios network is expected to enhance service delivery [3] Financial Outlook - Verizon expects capital expenditures for 2025 to be in the range of $17.5-$18.5 billion, maintaining historical levels of capital intensity [5] - The company has revised its net unsecured debt to adjusted EBITDA ratio target to 2.0 to 2.25x [5] - Verizon's capital allocation priorities include prudent investment, maintaining an industry-leading dividend, and efficient cash return to shareholders [4]