Verizon Adds 378,000 Fixed Wireless Customers in Q2, But ARPU Declines

Verizon Communications’ 5G fixed wireless access (FWA) home internet business showed slightly decelerated but still strong growth in the second quarter, adding 378,000 subscribers vs. 384,000 during the same April-June period of 2023.

Verizon now has 3.812 million FWA customers and continues, along with T-Mobile, to disrupt the home internet business, seizing gobs of market share from cable operators, virtually all of which have stopped growing their broadband customer ranks.

But while FWA has proven disruptive, it's long-term revenue potential for Verizon and T-Mobile is still in question.

Average revenue per customer for Verizon home internet actually was down year over year slightly — again — in Q2, to $47.31.

“The relatively weaker results in FWA are all the more surprising since FWA ARPU is still quite low,” analyst Craig Moffett pointed out. “Given the seasoning of the base, and roll-off of introductory discounts, one might have imagined meaningful growth. FWA APRU was up sequentially, albeit only modestly, and remains slightly lower than a year ago.”

Verizon is still offering FWA service starting at $35 a month.

T-Mobile reports earnings on July 31.