Verizon yet to see material virus impact
Verizon (VZ -2.4%) CFO Matt Ellis says the effects of COVID-19 and the coronavirus haven't been visited on the company's business, noting "We haven't seen a material impact yet."
But it's not immune from collateral effects and disruption, he said at an investor conference.
There's no change to customer behavior and no significant effect on its supply of handsets or network equipment, he says, though he notes that factory closures could eventually make handset supplies sparse.
Meanwhile, he says the company is interested in buying C-band spectrum, which it hopes to begin using as early as the end of next year, and it's going to expand its 5G residential fixed wireless service starting at the end of the year.
The company's halfway through $10B in cost cuts and plans to target the business segment and supply chain for more.