“Verizon reported 2.7 million Fios TV subscribers in the last quarter of 2024, down from 2.9 million in the year-earlier period. The company reported earnings per share of $1.18 after reporting a loss of $0.64 in the fourth-quarter of 2023. Adjusted earnings per share came in at $1.10 compared to $1.08 in the year-earlier period. ”, — write: www.hollywoodreporter.com
The company reported earnings per share of $1.18 after reporting a loss of $0.64 in the fourth-quarter of 2023. Adjusted earnings per share came in at $1.10 compared to $1.08 in the year-earlier period.
Total operating revenue came in at $35.7 billion, up 1.6 percent compared to fourth-quarter 2023.
Consolidated net income for fourth-quarter 2024 was $5.1 billion compared to a net loss of $2.6 billion in the fourth-quarter of 2023. Consolidated adjusted EBITDA was $11.9 billion in fourth-quarter 2024 compared to $11.7 billion a year ago.
The company added 408,000 broadband net additions in the fourth quarter to reach 10 million users.
Verizon announced a deal in September to acquire fiber broadband company Frontier for $20 billion in cash. The transaction is expected to close by early 2026, pending regulatory approval.
Frontier has about 2.2 million fiber internet customers across 25 states. Verizon had said it will follow through on plans to build out another 2.8 million fiber locations by the end of 2026.
In response to the wildfires in California, Verizon executives said the company’s crisis response team has bene working with federal, state and local public safety agencies and that the Verizon network is “holding up strong.”
“Verizon network is holding up strong, meaning critical connectivity for the community, businesses and first responders. Our engineers have been working around the clock, restoring near all of the macro cell sites that were impacted, and we will continue to be here for employees, customers and communities in LA,” Verizon Chairman and CEO Hans Vestberg said on the earnings call.
The company also expanding its AI ecosystem through a new offering called AI Connect, which is a suite of solutions and products designed to help businesses to deploy artificial intelligence workloads at scale. Google Cloud and Meta are among the early adopters.
“With innovations powered by the best network in the country, we are bringing the best experiences to our customers, in life and work. Customizable offerings like myPlan, myHome, Verizon Business Complete and Total Wireless feature the control, simplicity and value our customers expect,” Vestberg said. “It’s only going to get better this year and beyond, as we have continued to strengthen Verizon with the pending Frontier acquisition, new satellite partnerships, and ongoing AI enablement, which we expect will enhance and broaden our network for everybody we serve.”
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