Verizon's full-year revenue was $133.6 billion, and 34% of subscribers used 5G phones

Verizon announced that by the end of the fourth quarter of 2021, more than a third of its users will be using 5G-enabled terminals. The demand for new services has helped the operator's net postpaid subscriber growth to its highest level since the beginning of the COVID-19 pandemic.

On the earnings call, Verizon Chief Financial Officer Matt Ellis said the operator's retail postpaid subscribers grew by 558,000 units during the quarter, up 100 percent year-over-year. He noted that 34 percent of Verizon users now have 5G-enabled terminals.

Verizon CEO Hans Vestberg added that the adoption of these terminals throughout 2021 is fast due to "expectations for new services."

Both Wheihans and Ellis expressed satisfaction with the launch of Verizon's C-band service, and the CFO congratulated employees on their advance service.

The CEO said its C-band spectrum covers 95 million people, and the mitigation measures Verizon has implemented near some U.S. airports to allay concerns about disruption to aircraft systems should not have a substantial impact on the business.

Ellis told investors that Verizon will spend $5 billion to $6 billion this year to continue building the C-band (5G), in addition to $16.5 billion to $17.5 billion in other capital expenditures.

Excluding C-band spending, capital expenditures in 2022 will be lower than $18.2 billion in 2021. "We have begun the process of reducing capital intensity," Ellis explains.

Verizon's operating income for the fourth quarter was $34.6 billion, down 1.8 percent; net income was flat at $4.7 billion from the year-ago quarter. The operator noted that its revenue increased by 4.8 percent after adjusting for the sale of its media business before the fourth quarter.

Full-year net income increased 23 percent to $22.6 billion and operating income increased 4.7 percent to $133.6 billion. (C114 Jiang Junmu)