Verizon Reports Progress in Turnaround with Improved Broadband and AI Opportunities
Verizon Communications Inc. is reporting momentum in its turnaround efforts, driven by improved customer satisfaction, declining churn rates, lower retention costs, and the success of new Simplicity plans that are attracting more postpaid phone users than expected. The company added about 350,000 broadband subscribers recently and expects fiber to reach at least 32 million homes this year. CEO Dan Schulman emphasized that satellite providers have not negatively impacted Verizon's growth but instead complement its terrestrial networks. Additionally, AI infrastructure is becoming a key area of opportunity for the firm. Verizon also highlighted over $1 billion in savings from a Google dark-fiber deal and plans to repurpose facilities for edge computing. The company expects more than $5 billion annually in operating expense reductions while continuing to reinvest in growth initiatives and return value to shareholders.
Topics: AI infrastructure broadband growth cost savings customer retention telecom