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CLAIM #62410 · VZ (VZ) · 2024Q3 earnings call · Oct 22, 2024 · due Dec 31, 2024

So I've been building Fios for 20 years or so now. And we're on track this year to pass approximately 500,000 prems.

Joe Russo · Head of Network

PENDING
graded after results covering Dec 31, 2024 are reported

In context

we've said, we've been awfully successful in that space. Customers just love that product. So we will be accelerating our ultra wideband deployment. I expect that by the end of this year, we'll have a -- we'll have covered 70% of our planned footprint and by the end of next year through acceleration, we will get to 80% to 90% of that planned footprint covered. We also have just recently launched our 100% virtualized 5G core network with stand-alone and slicing capabilities. And we'll talk a little bit more towards the end of this year, how we're going to put those to use in the market. And then finally, we are the only company in this country that's actually running virtualized RAN at scale. 40% of my C-Band sites are now virtualized in the network. Shifting over to fiber access network. So I've been building Fios for 20 years or so now. And we're on track this year to pass approximately 500,000 prems. Frontier, as you know, is on their way to pass 10 million prems by the end of 2026. And we are in 2025, targeting an expansion of our Fios build up to 650,000 prems. Post-close, I see that pace growing to up to 1 million plus prems per year. But what excites me more than anything, after 20 years of doing this, is our business case on Fios is getting better and better. And that starts with the fact that customers demand high-quality broadband services more now than ever. So what we see is when I do a build today, we see higher and faster penetration rates than we have with prior builds. And we pulled through mobility benefits on both churn and ARPU. But I'm also finding new and creative ways to bring down the cost of deploying fiber. And that comes in three big chunks. The first is partner

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SEC filings for VZ · Claim quote is verbatim from the 2024Q3 earnings call.