Verizon’s CFO says Frontier’s assets are a catalyst for fiber expansion and broadband growth
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Verizon’s CEO says it's on track to reach 650K new Fios subscribers in 2025
Frontier crosses 8M locations with fiber in Q1 2025
Verizon continues to move forward with its acquisition of Frontier next year. This deal will not only expand its fiber reach but also enhance its ability to bundle wireless and other services to the new customer base.
Tony Skiadis, CFO of Verizon, told investors during the company's second-quarter 2025 earnings call that the team is working on steps to complete the acquisition, and “we remain on track for an early 2026 close.”
“We have received regulatory approvals from eight states, as well as the FCC and DOJ, and are productively engaged with the remaining state regulatory agencies,” he said. “Based on Frontier's publicly reported results, the company continues to perform exceptionally well and remains on track with its fiber expansion goals.”
While Frontier won’t report its second-quarter earnings until July 29, the service provider saw strong momentum in the first quarter, adding 321,000 fiber passings and bringing the total number of locations passed with fiber to 8.1 million. Additionally, Frontier added 107,000 fiber broadband customers, resulting in a 19.3% year-over-year increase in fiber broadband customer growth.
Skiadis said that Verizon expects Frontier’s fiber network to reach more broadband customers and will provide an update on the deal soon. “We look forward to having Frontier's assets serve as an important catalyst for our fiber expansion and acceleration of broadband growth,” he said.
With fiber being a key pillar of its Frontier acquisition, Verizon maintains it will continue its fiber expansion plans to reach more locations in 2025.
“Our fiber build is tracking ahead of plan, and we're positioned to deliver 650,000 incremental passings this year,” said Hans Vestberg, CEO of Verizon. “We're encouraged by Frontier's performance and look forward to closing the transaction to accelerate our fiber expansion further.”
Accelerating convergence
Besides having a larger fiber network base to sell into, Verizon maintains that its combination with Frontier will enable convergence opportunities.
As a combined company, Verizon will be able to cross-sell its well-established wireless service to existing Frontier customers.
Verizon's convergence strategy focuses on integrating its wireless and fiber networks to offer a seamless experience for customers, combining mobility and broadband services. This involves expanding its fiber footprint and leveraging Fixed Wireless Access (FWA) to reach more homes with high-speed internet. The company also aims to bundle wireless and home broadband services, expecting to double its converged base within a few years.
“On convergence, our main key differentiator is that we have owners’ economics on mobility and broadband,” Vestberg said. “We have the largest mobility base and we're now adding our fiber base with Frontier.”
He added that “we're going to have an unparalleled opportunity for convergence, and our customers have a chance to work on both.”
FWA, Fios broadband progresses
During the second quarter, Verizon continued to see momentum in its Fios and Fixed Wireless Access (FWA) broadband services, adding 15,000 new Fios internet subscribers and 278,000 net FWA customers.
Skiadis said that Verizon is “taking broadband share and sees strong demand for both our fiber and Fixed Wireless Access offerings, even with seasonal impacts and a softer move environment as compared to prior years.”
Verizon’s second quarter consolidated revenue reached $34.5 billion, up 5.2% year-over-year. The company stated that this result was driven by solid wireless service revenue and a more than 25% increase in wireless equipment sales. Service and other revenue rose 1.6%.
Total wireless service revenue reached $20.9 billion in the second quarter, a 2.2% year-over-year increase. Growth was driven by consumer ARPU, which rose 2.3% year-over-year.
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Sean Buckley
Sean is responsible for establishing and executing the editorial strategy of Lightwave across its website, email newsletters, events, and other information products.