Verizon sees strong wireless growth in 2022

Verizon reported first-quarter 2022 results that showed strong growth in its wireless business. Consolidated revenues for first-quarter 2022 totaled $33.6 billion, up 2.1 percent from first-quarter 2021. Verizon's growth in first-quarter 2022 was driven by the first full quarter of ownership of TracFone Wireless, higher equipment revenue, and strong wireless service revenue growth. The company saw a total wireless service revenue of $18.3 billion, a 9.5 percent increase year over year. In total, Verizon had 229,000 total broadband net additions, the best quarter in over a decade, including 194,000 fixed wireless net additions, 2.5 times the fourth quarter 2021 level. The company reported 35,000 wireline broadband net additions, driven by 60,000 Fios Internet net additions in first-quarter 2022. "The January launch of C-Band and expansion of our 5G Ultra Wideband network helped to amplify our fixed wireless momentum in both Consumer and Business, with quarterly additions 2.5 times that of our fourth-quarter performance, and drove momentum in wireless upgrades," said Verizon Chairman and CEO Hans Vestberg.