Verizon reported strong fourth quarter and full-year 2023 results, with wireless service revenue increasing by 3.2% year-over-year.
The company achieved significant improvements in customer additions, particularly in the Consumer segment, driven by the successful launch of myPlan and revamped sales strategies.
Verizon expects to sustain positive postpaid phone net adds in both Consumer and Business segments throughout 2024, supported by targeted pricing actions, continued growth in fixed wireless access, and adoption of premium unlimited plans.
The guidance for 2024 includes an anticipated wireless service revenue growth of 2% to 3.5%, reflecting a focus on profitability and customer growth.
Adjusted EBITDA is expected to grow by 1% to 3% compared to the prior year, driven by higher wireless service revenue and cost transformation initiatives.
Capital spending for 2024 is projected to be between $17 billion and $17.5 billion, down from $18.8 billion in 2023, while free cash flow generation is expected to support dividend increases and debt reduction.
Overall, Verizon's earnings call highlighted the company's strong performance, positive outlook, and strategic initiatives aimed at driving growth and improving financial metrics.