Verizon reported much fewer net new phone subscribers during the second quarter than Wall Steet expected.
released its quarterly earnings report for the second quarter and the nation's largest wireless carrier reported a 9.1% year-over-year gain in Verizon Consumer revenue to $25.6 billion. That figure was helped along by the acquisition of TracFone, higher equipment revenue, and revenue growth in the company's core wireless service. The inclusion of revenue from TracFone, combined with an increase in the Average Revenue Per Account helped hike consumer wireless revenue by 10.
In the range between 3.7GHz to 4.2GHz, the C-band is considered mid-band spectrum and while it isn't as fast as mmWave spectrum, it travels farther than the latter making it accessible to more subscribers.used to reserve its Ultra Wideband 5G designation to its mmWave spectrum that delivers download data speed as fast as 1Gbps. But since mmWave signals travel short distances only, finding this coverage was like finding a needle in a haystack.
Thanks to the C-band and a shrewd move by Verizon, more subscribers now access the carrier's Ultra Wideband service Total operating revenue rose .1% to $33.79 billion from the year ago's $33.76 billion. Net declined 10.7% from $5.95 billion or $1.40 per share to $5.32 billion or $1.24 per share. For the six months ended in June, total operating revenue came in at $67.34 billion versus the prior year's $66.63 billion. That is a 1.1% increase.
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