Verizon: SpaceX needs $300–500B and 4–6 years to build a terrestrial network

Verizon raised full-year guidance for the third consecutive quarter, with revenue of $34.3B (+1.5%), net income of $5.3B (+5.2%) and 406,000 net new postpaid 5G additions. CEO Dan Schulman said SpaceX would need 65,000–80,000 macro sites, spectrum and $300–500B over seven to eight years to build its own network, after which it would become only the sixth competitor in the market.

• 406,000 net new postpaid 5G additions, up 820% — its strongest Q3 in five years
• Verizon signed $4B in AI Connect deals in six months, including a $2B+ AWS agreement
• Schulman estimates SpaceX's terrestrial network would cost $300–500B over seven to eight years
• Adjusted EBITDA rose 8% to $13.8B, while acquisition costs fell 41%