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Verizon network handling 'enormous' growth, CEO says

Apr. 02, 2020 11:12 PM ETVerizon Communications Inc. (VZ) StockVZBy: Jason Aycock, SA News Editor21 Comments
  • Verizon (NYSE:VZ) is experiencing "enormous" growth on its network as the world adjusts to pandemic measures, its CEO tells Bloomberg.
  • In the crisis, "the network becomes extremely important infrastructure," Hans Vestberg says. "We're having enormous growth in the network, with 800M calls a day" - double the amount of Mother's Day, the biggest call day of the year. He also notes 9B messages, equal to New Year's Eve.
  • "At the same time, we've seen 100% growth of gaming in the network, 50% up on VPN, people working from home ... but the network holds up very well ... we have built a robust network over the years; we're investing a lot of money in our network," Vestberg says.
  • Mobile handoffs are down 29% in the U.S., pointing to a population that is moving around less and less (especially in New York Metro, where they're down 63% week over week).

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