Verizon and Other Carriers Saw Decline in Capex Q3: Report

Capital expenditures declined among major providers worldwide in Q3 2024, to $71.1 billion, down 6.1% from the same quarter in 2023, ResearchAndMarkets.com reported Monday. Reliance Jio’s capex was off 27.4% over the previous year, the steepest decline. Others that saw spending drop were Verizon (down 22.5%), Vodafone (20%), Deutsche Telekom (18.1%) and KDDI (16.3%), the report said. BSNL saw capex growth of 300.6%, followed by Telstra (52.3%) and BT (4.8%). Telcos reported $1.77 trillion in revenue, up 0.1% year over year, with labor costs of $262.4 billion, up 0.8%, the report said.