Verizon 2021 revenues up to USD133.6bn; one-third of Consumer subs now have a 5G-capable device

US telecoms giant Verizon Communications has reported total operating revenues of USD133.6 billion for the twelve months ended 31 December 2021, up from USD128.3 billion in 2020. Annual operating income for 2021 was reported at USD32.4 billion, compared to USD28.8 billion one year earlier, while net income climbed from USD18.3 billion to USD22.6 billion in the period under review.

In operational terms, Verizon’s Consumer unit closed out 31 December 2021 with 115.395 million mobile subscriptions, 6.888 million fixed broadband accesses and 3.026 million fixed voice lines. (Note: mobile numbers were boosted by the acquisition of TracFone Wireless, which was completed on 23 November.) The telco’s Business unit, meanwhile, claimed 27.411 million mobile subscriptions and 477,000 fixed broadband users at year-end.

Verizon adds that more than one-in-three Consumer wireless phone customers now have a 5G-capable device, putting the figure in the region of 38 million. The telco’s ‘5G Ultra Wideband’ network – which is powered by C-band frequencies – now covers 95 million Americans, up from 90 million at launch (19 January).

CEO and chairman Hans Vestberg commented: ‘2021 was a transformational year for Verizon that will serve as a catalyst for us. We delivered on all of our goals in 2021 and made great progress on our five paths of growth, finishing the year with strong operating and financial momentum. As we move into 2022, we have the necessary assets to realise our strategy that we laid out in 2019. We are laser focused on executing our 5G strategy and providing value to our customers, shareholders, employees, and society, as 2022 will be the most exciting year yet for Verizon.’