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Verizon raises 2020 capital expenditure in 5G push – Source Reuters Tech News

FILE PHOTO: A contract crew from Verizon installs 5G telecommunications equipment on a tower in Orem, Utah, U.S. December 3, 2019. Picture taken December 3, 2019. REUTERS/George Frey

(Reuters) – Verizon Communications Inc on Thursday raised its full-year capital expenditure as it accelerates its transition to 5G network.

The company said it expects to spend $17.5 billion to 18.5 billion in 2020, up from its prior forecast of $17 billion to $18 billion.

The carrier also said it has not seen any measurable increase in data use since the coronavirus outbreak.

Reporting by Amal S in Bengaluru; Editing by Arun Koyyur

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Source Reuters Tech News

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