Reuters logo
Verizon sees 2013 capital spending unchanged from 2012
November 8, 2012 / 10:13 PM / 5 years ago

Verizon sees 2013 capital spending unchanged from 2012

NEW YORK, Nov 8 (Reuters) - Verizon Communications plans to keep its 2013 capital budget around the same level as 2012, Chief Executive Fran Shammo said on Thursday.

Capital spending this year will be below the $16.2 billion budget for 2011, Shammo said in a webcast of an investor conference.

On Wednesday, arch-rival AT&T Inc said it would raise capital spending by about 16 percent next year, and it outlined plans to spend $22 billion each year for the next three years.

Shammo also said fourth-quarter customer additions for FiOS, Verizon’s television and home Internet services, would be hurt by Hurricane Sandy, which hit the U.S. Northeast operating region Oct. 29, causing flooding and outages in power and telecom service.

He said FiOS customer additions for the quarter will be lower than Verizon’s previous estimate of 150,000 to 170,000, as a result of the storm.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below