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Verizon grows revenue but loses wireless customers, continues to ‘execute on all 5G opportunities’

April 22, 2021

Verizon reported first quarter revenue up 4% from a year ago, but that gain was marred by net phone losses of 178,000. The company reporting that its first quarter revenue was $32.9 billion, with non-GAAP earnings of $1.31 a share.

However, while Verizon’s consumer Fios business had 98,000 Internet net additions and 102,000 total Fios net additions, the company’s consumer wireless lost 326,000 retail postpaid customers, including 225,000 phone net losses.

Verizon added 156,000 business retail postpaid net additions including 47,000 net business phone adds, and its wireless unit had service revenue of $16.7 billion, up 2.4% from a year ago.

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