New York City-based Verizon Communications Inc., announced its is preparing its network to handle increased data speeds and downloads that could happen as a result of business and school telecommuting activated to combat the spread of COVID-19, known as the Coronavirus.
As a part of its upgrades, Verizon announced it is increasing its capital guidance range from $17 – $18 billion to $17.5 – $18.5 billion in 2020. This effort will accelerate Verizon’s transition to 5G and help support the economy during this period of disruption.
“We’re looking towards the future and increasing our investments so that we’re poised to offer even more robust networks, to meet future demands, in the years to come,” Hans Vestberg, Verizon Chairman and CEO said. “We are very confident in our company’s ability to meet current demands in providing a great network experience.”
As a part of its upgrade announcement, Verizon said it is monitoring network usage in the most impacted areas. The company will work with and prioritize network demand in assisting the needs of many U.S. hospitals, first responders and government agencies.