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Verizon: 5G adoption is up, 20% of customers have 5G-capable phones

July 21, 2021

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Verizon raised its financial expectations for the rest of the year, based on momentum in 5G adoption and wireless service revenue growth as customers step-up to more expensive plans. The carrier said that 20% of its customer base now has 5G phones in-hand.

Verizon also raised its financial guidance for the year from about 3% in wireless service revenue growth, to between 3.5-4%, and also raised its expected earnings per share. Capital expenditure expectations (between $17.5-$18.5 billion, plus another $2-3 billion for C Band deployment) were unchanged.

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