Verizon Communications Inc. (NYSE:VZ) has agreed to acquire Starry, a provider of next-generation fixed wireless internet. This move will help Verizon expand its high-speed internet services in urban areas and multi-dwelling units (MDUs) like apartment buildings.
How the Acquisition Benefits Verizon
Starry’s network, which uses millimeter wave technology, currently serves around 100,000 customers in MDUs across five major U.S. markets: Boston, New York, Los Angeles, Denver, and Washington, D.C.
This acquisition will help Verizon accelerate its goal of reaching 90 million households and 8-9 million fixed wireless subscribers by 2028.
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According to Joe Russo, Verizon's President of Global Networks and Technology, Starry’s efficient approach to delivering high-speed internet will boost Verizon’s fixed wireless access capabilities.
Verizon plans to use its extensive fiber infrastructure and mmWave spectrum holdings to support this expansion, providing the capacity needed for fast, reliable internet in dense urban settings.
The deal is expected to close in the first quarter of 2026, pending approval from the U.S. Federal Communications Commission (FCC) and other standard conditions. The financial terms of the agreement were not disclosed.
Recent Financial Performance
In its most recent quarter, Verizon reported strong financial results. The company’s revenue grew 5.2% year-over-year to $34.50 billion, exceeding the analyst consensus of $33.57 billion.
Adjusted earnings per share (EPS) for the quarter were $1.22, also beating the consensus estimate of $1.19.
Verizon slightly narrowed its full-year adjusted EPS outlook to a range of $4.64-$4.73.
At the end of the second quarter, Verizon had cash and cash equivalents of $3.43 billion.
Price Action: VZ shares were trading lower by 0.42% to $41.23 at last check Wednesday.
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