Verizon boasts 342,000 fixed wireless access customer additions in third quarter

Verizon Communications Friday touted the addition of 234,000 fixed wireless access residential customers in the third quarter and another 108,000 FWA subscribers on the business services side, bringing its total FWA base to more than one million users.

FWA technology has been rapidly emerging, which allows consumers to use 5G wireless networks for home internet service. T-Mobilewhich releases its third quarter figures on October 27, now has more than 1.5 million FWA customers.

Verizon added only 38,000 wireline Internet customers, as weaker-than-expected growth in its legacy Fios Internet business was offset by sustained losses of digital subscriber line (DSL) customers.

But the net addition of 272,000 total wireline broadband users for Verizon will likely be far more than Comcast or Charter Communications’ report for the third quarter when they make their earnings calls next week.

For Verizon, the FWA story provides a small buffer from tougher economic conditions currently affecting its core wireless business, where it added just 8,000 postpaid customers in the quarter.

And the company’s pay-TV presence continued to decline in the third quarter, with its Fios TV service losing an additional 95,000 customers, a 40% year-over-year increase in cord cuts. Verizon has just under 3.5 million remaining Fios TV subscribers.

Verizon’s stock was down about 5% in Friday afternoon trading. ▪️

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