10:03 AM EDT, 10/22/2024 (MT Newswires) -- Verizon Communications ( VZ ) said Tuesday it reached its target of between 4 million and 5 million fixed wireless domestic subscribers 15 months ahead of schedule.

The communications services provider said fixed wireless subscribers grew 57% year-over-year, reaching 4.2 million at the end of Q3. The company plans to double its fixed wireless subscribers to between 8 million and 9 million by 2028, expanding coverage to 90 million households, Verizon said.

Verizon's broadband connections rose 16% from the previous year to 11.9 million at the end of Q3, the company added.

The company plans to continue developing its fiber network, aiming for 35 million to 40 million passings, Verizon said. The planned acquisition of Frontier will help expand Verizon's fiber footprint, adding 9 million to 10 million fiber passings, it added.

Verizon also said it expects capital expenditures of $17.5 billion to $18.5 billion in 2025.

Shares of Verizon were down 4.3% in recent Tuesday trading.

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