During Verizon’s second quarter earnings call, the company announced some struggles. Verizon reported a decline in total revenue since the second quarter of 2022. The company also lost 69,000 Fios TV customers, though that’s in large part due to the Fios being discontinued so it’s not a shocking result.
Even so, Verizon remains hopeful about the future. Verizon Chairman and CEO Hans Vestberg expects to expand the company’s home internet 5G network to reach 4 to 5 million households by the end of 2025.
Verizon added 384,000 wireless home internet customers this quarter, so there’s definitely an interest brewing in its services in the market. 5G home internet is Verizon’s biggest broadband seller. Wireless service revenue also stepped up a bit, increasing by 3.5% compared to last year.
Although Verizon has some stiff competition in the 5G realm, the company has some perks to go along with the service. For starters, Verizon is still offering 5G Home and LTE Home plans for only $25 a month. While this is a limited time offer ending soon, Verizon plans to offer other discounts as well as add additional enhanced features. If you sign up before the offer ends, you’ll get to keep the $25 a month deal.
Additionally, Verizon will offer a discount for new customers who also sign up with a premium Unlimited mobile plan.
Overall, Verizon’s long-term plan to gain customers is to create a more appealing home internet and phone service to entice customers to cut ties with cable providers. And it seems to be working. T-Mobile is also offering similar deals for its own 5G network. Cable providers are reporting declining numbers at a faster rate compared to prior years.
Vestberg says Verizon will continue to expand its network throughout the rest of the year by deploying more rapid C-Band spectrum to provide better value for customers. “The steps that we have taken to improve our operational performance are working.”