Verizon's profits surge as it waits for 5G

CNET | 4/23/2019 | Marguerite Reardon
cobra662 (Posted by) Level 3
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Verizon is betting its future on 5G, while its current network produces a mixed bag of results in its latest quarterly earnings.

On the positive side, the company posted stronger than expected first quarter profits on Tuesday when it reported earnings for the first three months of the year. It also reported it added a total of 61,000 wireless customers, including 174,000 key smartphone subscribers. But in total it lost a whopping 44,000 phone subscribers, signaling the difficulty of finding substantial growth in a competitive and saturated wireless market.

Company - Network - Overhaul - Future - Promise

All of this comes as the company prepares a major network overhaul and bets its future on the promise of 5G. This next generation cellular technology will offer a massive speed boost and a smarter more responsive network that is capable of connecting thousands of different devices around us. But the transformation won't be quick.

The company has started to deploy its so-called 5G Ultra Wideband network. It's slightly ahead of schedule with service available already in select locations in Chicago and Minneapolis. It expects to have the service up and running in 30 cities by the end of the year. But so far, there's just...
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