Verizon’s total consolidated operating revenue for the third quarter of 2022 was $34.2 billion, up 4% from the previous year’s similar quarter. The total wireless service revenue recorded a YoY growth of 10%, primarily driven by the company's ownership of TracFone, continued effectiveness in its premium Unlimited strategy and ongoing strength in Business volumes. Yet, there has been a YoY decrease of 23.3% amounted to the company’s net income of $5 billion.
Verizon Lands $1.58B Order to Modernize U.S. Embassies
Verizon announced a new Enterprise Infrastructure Solutions (EIS) contract to modernize the global communications infrastructure and provide IT services for each of the Department of State’s (DOS) U.S. embassies, consulars, and other key locations around the globe.
T-Mobile Sells Sprint Wireline Business for One Dollar
T-Mobile has agreed to sell its Wireline Business to Cogent Communications (NASDAQ: CCOI), a facilities-based network provider, for a purchase price of only $1.00. At the same time, T-Mobile has agreed to utilize IP transit services delivered by the Wireline Business for 4.5 years following closing, meaning that T-Mobile is effectively paying Cogent $700 million to offload this “legacy” unit.
Nokia, AT&T Mexico Deploy First Private Network in Maritime Terminal
Nokia and AT&T Mexico announced the deployment of an industrial-grade LTE private wireless network solution at the APM Terminals in Puerto Progreso, Yucatan, using the Nokia Digital Automation Cloud (DAC) platform.
T‑Mobile Takes Coverage Above and Beyond with SpaceX
SpaceX Chief Engineer Elon Musk announced Coverage Above and Beyond: a breakthrough new plan to bring cell phone connectivity everywhere. Leveraging Starlink, SpaceX’s constellation of satellites in low Earth orbit, and T-Mobile’s industry-leading wireless network, the Un-carrier plans to provide near complete coverage in most places in the U.S. – even in many of the most remote locations previously unreachable by traditional cell signals.
Verizon Supercharges Fiber Core Network
Verizon is upgrading to new equipment that is capable of utilizing the latest 400 Gbps per port optical technology. When the overhaul of the fiber core network — the superhighway Verizon uses to move customers’ data — is complete, Verizon will be able to manage 115 Tbps of data. This upgrade will significantly increase the bandwidth needed to support wireless, home internet, enterprise, small business and FIOS customers.
Bell Canada Increases Internet Speeds
Bell Canada announced that it is set to deliver the fastest Internet speeds in North America of any major provider. As announced previously this year, Bell is already the fastest of any major provider in the country with 3Gbps and is now introducing even faster symmetrical speeds of up to 8Gbps, the fastest of any speeds offered today by any major provider. With these speeds, and in select areas of Toronto, Bell pure fiber Internet will have download speeds five times faster than cable technology and upload speeds 250 times faster than cable technology. Bell also will bring Wi-Fi 6E in the home, the fastest Wi-Fi technology available, and when coupled with North America's fastest Internet speeds, is set to transform the at-home experience.
Comcast Fails to Add Broadband Subscribers
Comcast's stock slid more than 9% after it was announced that the company failed to add any new broadband customers for the first time in its history in the second quarter of this year. The corporation is the nation's largest internet provider.
Charter Told to Pay $7.3b After Cable Installer Murders Grandmother
Charter Communications must pay out $7 billion in damages after one of its Spectrum cable technicians robbed and killed an elderly woman, a jury decided last Tuesday.
Movistar Completes AT&T Traffic Migration
Telefonica Mexico (Movistar), the second main mobile carrier in Mexico, with an 18% market share by 2021, announced the completion of its 3G and 4G traffic migration to AT&T's network.