VZ · Earnings call · 2026Q3T · Full report

Competition and New Entrants

VERIZON COMMUNICATIONS INC · 2026-10-26 · Importance 20 · Surprise 24

CEO Dan Schulman said Verizon assumes SpaceX will execute its announced plans and is monitoring its potential entry into terrestrial wireless. He estimated that a terrestrial network could require 65,000–80,000 macro sites, take at least four to six years to build, and cost an estimated $300 billion–$500 billion over seven or eight years, before adding retail and customer-service infrastructure. He characterized a satellite-only service as less competitive in suburban and urban areas and said Verizon sees a complementary role for satellite in remote areas, potentially through direct arrangements or its joint venture. Verizon said it does not see a benefit in extending an MVNO agreement to a satellite provider.

Key facts

• Verizon stated upper C-band spectrum is expected to become available in the first half of 2027 and would take four to five years to clear.
• Verizon has 1,700 MHz of millimeter-wave spectrum, which it says will create incremental efficiencies and capacity in its existing C-band spectrum.