Verizon: 1-in-3 consumers now have a 5G-capable device

Verizon Communications reported strong wireless service revenue growth and increased 5G phone adoption in Q4 2021, as more than one in three Consumer wireless phone customers now have a 5G-capable device.

“2021 was a transformational year for Verizon that will serve as a catalyst for us,” said Verizon Chairman and CEO Hans Vestberg. “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. As we move into 2022, we have the necessary assets to realize our strategy that we laid out in 2019. We are laser focused on executing our 5G strategy and providing value to our customers, shareholders, employees, and society, as 2022 will be the most exciting year yet for Verizon.”

For fourth-quarter 2021, Verizon reported EPS of $1.11, compared with $1.11 in fourth-quarter 2020.

Some highlights:

Total wireless service revenue of $17.8 billion, a 6.5 percent increase year over year, driven by a combination of higher ARPA (average revenue per account), volume growth and the contribution from the acquisition of TracFone Wireless, which was completed on November 23.
Total retail postpaid churn of 1.01 percent, and retail postpaid phone churn of 0.81 percent.
1,058,000 retail postpaid net additions, including 558,000 phone net additions, resulting in 142.8 million total retail connections.
106,000 total broadband net additions, defined as wireline (Fios and DSL) and fixed wireless, an increase of 30,000 total broadband net additions year over year.
78,000 fixed wireless net additions, an increase from 55,000 fixed wireless net additions in third-quarter 2021.
55,000 Fios Internet net additions in fourth-quarter 2021. In full-year 2021, Verizon reported 360,000 Fios Internet net additions, the best annual performance since 2014. Total Fios revenues were $3.2 billion in fourth-quarter 2021, an increase of 5.7 percent year over year. Full-year 2021 Fios revenues were approximately $12.7 billion, up 4.6 percent year over year.