Verizon says network is 'holding up strong' amid California wildfires

Verizon reported 2.7 million FIOS TV subscribers in the final quarter of 2024, down from 2.9 million in the annual period.

The company reported earnings of $1.18 per share, following a loss of $0.64 in the fourth quarter of 2023. Adjusted earnings per share were $1.10, while the full-year term was $1.08.

Total operating income was $35.7 billion, an increase of 1.6% compared to the fourth quarter of 2023.

Consolidated net income in the fourth quarter of 2024 was $5.1 billion, compared with a net loss of $2.6 billion in the fourth quarter of 2023. In 2024, consolidated adjusted EBITDA will be $11.9 billion, compared with $11.7 billion a year ago.

The company added 408,000 broadband net additions in the fourth quarter to attract 10 million subscribers.

Verizon announced a deal in September to acquire fiber broadband company Frontier for $20 billion in cash. The transaction is expected to close in early 2026, pending approval.

Frontier has approximately 2.2 million fiber optic internet customers in 25 states. Verizon has said it will follow a plan to build an additional 2.8 million fiber optic locations by the end of 2026.

Verizon executives say the Verizon network is “standing strong” as the company's crisis response team works with federal, state and local public safety agencies in response to California's wildfires.

“Verizon Network remains strong, which means critical connectivity for communities, businesses, and first responders. Our engineers have been working around the clock to restore all affected macro cell sites, and we will continue to serve our employees, customers, and communities across Los Angeles.” here.

The company is also expanding its AI ecosystem with a new product called AI Connect, a suite of solutions and products designed to help enterprises deploy artificial intelligence workloads at scale. Google Cloud and Meta are among the early adopters.

“With innovations delivered by the best networks in the country, we are bringing the best experiences to our customers, where they live and work. Customizable products like Myplan, MyHome, Verizon Business Complete and Total Wireless feature control,” said Vestberg. Simplicity and value our customers expect. “Things will only get better this year and beyond as we continue to strengthen Verizon with pending Frontier acquisitions, new satellite partnerships and continued AI support, which we hope will enhance and expand everyone we serve.” network. “