Showing posts with label CAPEX. Show all posts
Showing posts with label CAPEX. Show all posts

Thursday, March 12, 2020

Verizon ready for data surge from COVID-19 crisis, increases CAPEX

Verizon asserted that its networks "stand ready to serve customers at work, at home and remotely—including first responders and those protecting the public—when critical connectivity is needed most."

Verizon reports that it has not seen a measurable increase in data usage—despite some businesses, schools and other organizations now asking employees to work remotely and students to take classes online.  The company says its networks are ready to absorb a data surge should demand increase or usage patterns change significantly due to the coronavirus (COVID-19) crisis.

Nevertheless, Verizon is announcing an increase in its capital guidance range from $17 - $18 billion to $17.5 - $18.5 billion in 2020. The increase is intended to accelerate Verizon's transition to 5G and help support the economy during this period of disruption.

“We’re looking towards the future and increasing our investments so that we’re poised to offer even more robust networks, to meet future demands, in the years to come,” said Hans Vestberg, Verizon Chairman and CEO. “We are very confident in our company’s ability to meet current demands in providing a great network experience.”

Vestberg added: “Our customers—including critical government and public safety agencies—rely on us for proven reliability. I want to thank our dedicated Verizon employees who continue to work tirelessly, day in and day out, to ensure our essential communications services are available to our customers so they can stay connected where and when they need it most.”

Full statement:
https://www.verizon.com/about/news/verizons-networks-stand-ready-increases-data-traffic