Verizon 公佈第一季獲利強勁,無線服務收入、調整後 EBITDA 和自由現金流均成長。該公司的卓越營運和客戶保留策略運作良好,後付費電話網路增加和寬頻用戶數量有所改善。
Verizon 正在投資專用網路和人工智慧技術以實現未來成長,並繼續專注於實現獲利成長和增加股東價值。該公司有信心在釋放其全部潛力方面持續取得進展,重點是產生強勁的自由現金流和償還債務。
Verizon 也專注於增加消費者方面的銷售量,重點關注客戶獲取和價值,並利用人工智慧進行客戶服務和網路優化。該公司正在實施削減成本的措施並推動 EBITDA 的改善,重點是平衡定價和銷售之間的收入成長。
Verizon 在網路容量方面處於有利地位,正在評估未來成長機會,同時保持財務審慎。
使用警語:中文譯文來源為 Google 翻譯,僅供參考,實際內容請以英文原文為主
Operator
Operator
Good morning, and welcome to the Verizon First Quarter 2024 Earnings Conference Call. (Operator Instructions) Today's conference is being recorded. If you have any objections, you may disconnect at this time. It is now my pleasure to turn the call over to your host, Mr. Brady Connor, Senior Vice President, Investor Relations.
早安,歡迎參加 Verizon 2024 年第一季財報電話會議。 (操作員指示)今天的會議正在錄音。如果您有任何異議,您可以此時斷開連接。現在我很高興將電話轉交給東道主投資者關係高級副總裁 Brady Connor 先生。
Brady Connor - SVP of IR
Brady Connor - SVP of IR
Thanks, Brad. Good morning, everyone, and welcome to our First Quarter Earnings Conference Call. I'm Brady Connor, and I'm joined by our Chairman and Chief Executive Officer, Hans Vestberg; as well as our Chief Financial Officer, Tony Skiadas.
謝謝,布拉德。大家早上好,歡迎參加我們的第一季財報電話會議。我是布雷迪康納 (Brady Connor),我們的董事長兼執行長 Hans Vestberg 也加入了我的行列。以及我們的財務長托尼·斯基亞達斯。
Before we begin, I'd like to draw your attention to our safe harbor statement, which can be found on Slide 2 of the presentation. Information in this presentation contains statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. Discussion of factors that may affect future results is contained in Verizon's filings with the SEC, which are available on our Investor Relations website. This presentation contains certain non-GAAP financial measures. Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are included in the financial materials posted on our website.
在開始之前,我想提請您注意我們的安全港聲明,該聲明可以在簡報的幻燈片 2 中找到。本簡報中的資訊包含有關預期未來事件和財務績效的陳述,這些陳述具有前瞻性,並受風險和不確定性的影響。 Verizon 向 SEC 提交的文件中包含對可能影響未來業績的因素的討論,這些文件可在我們的投資者關係網站上找到。本簡報包含某些非公認會計準則財務指標。這些非公認會計準則衡量標準與最直接可比較的公認會計準則衡量標準的對帳包含在我們網站上發布的財務資料中。
Earlier this morning, we posted to our Investor Relations website a detailed review of our first quarter results. You'll find additional details in the earnings materials on our website.
今天早些時候,我們在投資者關係網站上發布了對第一季業績的詳細審查。您可以在我們網站上的收入資料中找到更多詳細資訊。
With that, I'll turn the call over to Hans.
這樣,我就把電話轉給漢斯。
Hans E. Vestberg - Chairman & CEO
Hans E. Vestberg - Chairman & CEO
Thank you, Brady. Good morning, everyone, and welcome to our first quarter 2024 earnings call. I'm pleased to report that we have started the year with a solid momentum, building on the progress we made throughout 2023. Our results this quarter further validate that our strategy is working and position us well for a profitable growth this year. Our execution in the first quarter keeps us on track towards our full year 2024 guidance as we continue to deliver against our key financial metrics.
謝謝你,布雷迪。大家早安,歡迎參加我們的 2024 年第一季財報電話會議。我很高興地向大家報告,在2023 年取得的進展的基礎上,我們以強勁的勢頭開啟了新的一年。成長奠定了良好的基礎。我們第一季的執行情況使我們能夠繼續實現我們的關鍵財務指標,從而朝著 2024 年全年指導目標邁進。
We grew wireless service revenue and adjusted EBITDA and generated solid free cash flow. Operational excellence is our priority. Our team is delivering. We have the right strategy, and we're working to keep this progress up quarter by quarter.
我們增加了無線服務收入,調整了 EBITDA,並產生了穩定的自由現金流。卓越營運是我們的首要任務。我們的團隊正在交付。我們擁有正確的戰略,並且正在努力保持這一進展逐季上升。
It has been a busy quarter across our business. We produced big moments at the Super Bowl, published our first consumer connections report, achieved milestones in our C-band rollout, added new members to our leadership team, published our annual ESG report, accomplished many goals with Citizen Verizon and completed a pension transaction that increases our financial flexibility. Verizon has a differentiated position in the industry. We have the highest quality customer base in Consumer and Business, the largest adjusted EBITDA and a great team that knows how to execute our strategy.
這是我們業務繁忙的一個季度。我們在超級盃上創造了重要時刻,發布了第一份消費者聯繫報告,在C 頻段推出中實現了里程碑,為我們的領導團隊增加了新成員,發布了年度ESG 報告,與Citizen Verizon 實現了許多目標並完成了退休金交易這增加了我們的財務靈活性。 Verizon 在業界擁有獨特的地位。我們在消費者和商業領域擁有最優質的客戶群、最大的調整後 EBITDA 以及一支知道如何執行我們策略的優秀團隊。
Turning to our first quarter results. Wireless service revenue growth climbed to 3.3%. Our revenue performance, combined with our work on cost efficiency programs, translated to a $12.1 billion adjusted EBITDA. That's a year-over-year growth of 1.4%. We generated $2.7 billion in free cash flow, and we expect free cash flow to build throughout the year, similar to 2023.
轉向我們第一季的業績。無線服務收入成長攀升至3.3%。我們的收入表現,加上我們在成本效率計劃方面的工作,調整後的 EBITDA 達到了 121 億美元。較去年同期成長 1.4%。我們產生了 27 億美元的自由現金流,我們預計自由現金流全年都會增加,與 2023 年類似。
Our core products on mobility, broadband and private networks are at the center of people's lives and businesses. Connectivity is only becoming more vital with each passing day. And our investments and world-class network ensure that our customers can depend on us to deliver the reliable, high-quality experience they deserve.
我們的行動、寬頻和專用網路核心產品是人們生活和企業的中心。連通性日益變得更加重要。我們的投資和世界一流的網路確保我們的客戶可以依靠我們提供他們應得的可靠、高品質的體驗。
Now let me go into some specifics about this quarter. Our Consumer team is executing extremely well. Despite taking further pricing action this quarter, our postpaid phone net adds performance improved year-over-year, evidence of how our differentiated value proposition is resonating with customers.
現在讓我談談本季的一些具體情況。我們的消費者團隊執行得非常好。儘管本季度採取了進一步的定價行動,但我們的後付費電話網路的業績同比有所改善,這證明了我們的差異化價值主張如何與客戶產生共鳴。
Our net loss of 158,000 is more than 100,000 net adds better than our first quarter performance in 2023. This achievement was fueled by continued momentum in postpaid phone gross adds, which grew more than 5% year-over-year. We mitigated churn impacts from pricing actions through laser-focused retention efforts and the strength of our value proposition.
我們的淨虧損為158,000 部,比2023 年第一季的業績好得多,淨增加量超過100,000 部。量較去年同期成長超過5%。我們透過專注於保留工作和我們的價值主張的優勢,減輕了定價行為對客戶流失的影響。
These results represented Verizon Consumer Group's strongest first quarter postpaid phone net adds performance since 2018. Our targeted and segmented go-to-market approach, combined with myPlan and its exclusive perks, is clearly working. With myPlan, we are building a recurring revenue stream out of perks and services. These incentives, like our popular Netflix plus Max bundle, add value and deepen our customer relationships. We know our customers extremely well and tailor our offerings to their needs.
這些結果代表了 Verizon Consumer Group 自 2018 年以來最強勁的第一季後付費電話淨成長業績。透過 myPlan,我們正在透過福利和服務建立經常性收入流。這些激勵措施,例如我們廣受歡迎的 Netflix plus Max 套裝,可以增加價值並加深我們的客戶關係。我們非常了解我們的客戶,並根據他們的需求量身定制我們的產品。
We're bringing the same proven approach to our prepaid business. Within the quarter, we established our new value market leadership team, bringing experts to execute our plans with speed and discipline. While there is still work to be done, we're seeing early signs of progress in Visible and Total By Verizon. In February, we stopped processing new affordable connectivity program activations, which caused headwinds for our SafeLink brand. The ACP may shut down. But Verizon is committed to providing households with access to high-quality connectivity and reliable home Internet without data caps and does not believe that income should be a barrier to access.
我們將同樣經過驗證的方法引入我們的預付費業務。在本季度內,我們建立了新的價值市場領導團隊,聘請專家快速、嚴格地執行我們的計畫。雖然仍有工作要做,但我們已經看到 Visible 和 Total By Verizon 取得進展的早期跡象。 2 月份,我們停止處理新的經濟實惠的連接計劃激活,這給我們的 SafeLink 品牌帶來了阻力。 ACP 可能會關閉。但 Verizon 致力於為家庭提供高品質的連接和可靠的家庭互聯網,沒有數據上限,也不認為收入應該成為訪問的障礙。
Since 2020, we have offered high-speed home Internet to qualifying customers for as low as $20 a month through our Verizon Forward program. And we have other plans to reach households who rely on ACP. For Biz mobility, postpaid phone net adds were 90,000. The team continues to put up subscriber growth as the market share leader in a competitive environment, even while implementing pricing actions within the quarter. More businesses rely on Verizon than any other provider to deliver mission-critical support for the day-to-day operation.
自 2020 年起,我們透過 Verizon Forward 計畫向符合資格的客戶提供每月低至 20 美元的高速家庭網路。我們還有其他計劃來幫助依賴 ACP 的家庭。對於商務移動而言,後付費電話網路新增數量為 90,000 部。即使在本季內實施定價行動,該團隊仍將在競爭環境中繼續將用戶成長作為市場份額領導者。與其他供應商相比,更多企業依賴 Verizon 為日常營運提供關鍵任務支援。
In total, first quarter postpaid phone net losses were 68,000, a 59,000 net loss improvement versus prior year. We're exiting the quarter with both Consumer and Business delivering their strongest performance in March, a good sign for the year ahead. Our broadband business continued to be a key growth engine, now serving more than 11 million subscribers. We have grown our base 18% over the last year, and our network is a critical part of the infrastructure that homes and businesses rely on.
總體而言,第一季後付費電話淨損失為 68,000 部,比去年同期淨損失減少 59,000 部。我們即將結束本季度,消費者和企業在三月都表現最強勁,對未來一年來說是一個好兆頭。我們的寬頻業務仍然是關鍵的成長引擎,目前為超過 1,100 萬用戶提供服務。去年我們的基數成長了 18%,我們的網路是家庭和企業所依賴的基礎設施的重要組成部分。
Fixed wireless access has turned out to be a large and growing opportunity. This is now a meaningful piece of our business. We knew that fixed wireless access would be a hit with consumers, who like its quality, reliability and easy setup. Businesses are showing similar excitement as this was our biggest quarter-to-date for the net adds in business fixed wireless access with 151,000 setting our new high.
事實證明,固定無線存取是一個巨大且不斷增長的機會。現在,這是我們業務中一個有意義的部分。我們知道固定無線存取將會受到消費者的歡迎,他們喜歡它的品質、可靠性和簡單的設定。企業也表現出了類似的興奮,因為這是我們迄今為止最大的季度企業固定無線接入淨增加量,達到 151,000 個,創下了新高。
Fios remains extremely popular with one of the highest third-party Net Promoter Score in the industry. And as we already know, Fios is the best pure broadband offering in the country. Together, our total broadband portfolio delivered a strong quarter with 389,000 net adds. As with mobility, we saw good momentum with the broadband net adds as we exited the quarter, and we expect that to continue.
Fios 仍然非常受歡迎,是業界淨推薦值最高的第三方之一。正如我們所知,Fios 是該國最好的純寬頻產品。我們整個寬頻產品組合的季度表現強勁,淨增用戶數達 389,000 人。與移動性一樣,我們在本季結束時看到了寬頻淨增加的良好勢頭,並且我們預計這種情況將持續下去。
We also had a great quarter in private networks, signing transformative deals across industries. Xerox selected our network and service solution as its framework for modernizing its information technology system. We also signed a new private network deal with a global power solution leader, Cummins Inc. And iconic American sports leagues are turning to us for their networks that serve their fans, players and cultures. We're on the field, on the aisles and in the stands and in the parking lots.
我們在專用網路方面也有一個出色的季度,簽署了跨行業的變革性協議。施樂選擇我們的網路和服務解決方案作為其資訊科技系統現代化的框架。我們還與全球電力解決方案領導者康明斯公司簽署了一項新的專用網路協議。我們在球場上、在走道上、在看台上和在停車場。
During the quarter, we held a partner summit, where we unveiled our sports and entertainment strategy. We are at the center of the culture moments that matter the most to our customers from concerts and performance to athletic achievements and competition. We're already in every national football league stadium in the country. We're now expanding services with NFL teams, including the installation of a private 5G network at the LA Chargers' training facility.
本季度,我們舉辦了合作夥伴高峰會,公佈了我們的體育和娛樂策略。從音樂會、表演到體育成就和比賽,我們處於對客戶最重要的文化時刻的中心。我們已經進入了該國每個國家足球聯賽的體育場。我們現在正在擴大與 NFL 球隊的服務,包括在洛杉磯閃電隊的訓練設施安裝專用 5G 網路。
We also renewed our partnership as the official 5G network of the National Hockey League in the United States and are expanding services throughout its arenas. As you may have seen in our Consumer Connection Report, during the '23, '24 NFL season, the average fan used more data than the year before. These live moments matter to our customers, and they want to share them by text, by phone and by video. We are a vital part of their experiences.
我們還續簽了作為美國國家冰球聯盟官方 5G 網路的合作夥伴關係,並正在其各個賽場擴展服務。正如您可能在我們的《消費者連結報告》中看到的那樣,在 23 年和 24 年 NFL 賽季期間,普通球迷使用的數據量比前一年更多。這些現場時刻對我們的客戶很重要,他們希望透過簡訊、電話和影片來分享。我們是他們經歷的重要組成部分。
Our private networks business is growing and full of long-term contracts with the best partners around the world. All of this is supported by the infrastructure we have built and are building. We operate the nation's most reliable and robust network for all customers from households to global enterprises. Recently, we passed 250 million POPs covered with C-band, achieving our target almost a year ahead of plan. The pace and quality of our build-out is spectacular. Most importantly, our customers love the C-band experience. In the first 76 markets where we rolled out C-band, we see higher premix and reduced churn.
我們的專用網路業務正在不斷成長,並與世界各地最好的合作夥伴簽訂了長期合約。所有這一切都得到我們已經建成和正在建設的基礎設施的支持。我們為從家庭到全球企業的所有客戶經營全國最可靠、最強大的網路。最近,我們通過了 C 頻段覆蓋 2.5 億個 POP,比計劃提前了近一年,實現了我們的目標。我們的建設速度和品質令人驚嘆。最重要的是,我們的客戶喜歡 C 頻段體驗。在我們推出 C 頻段的前 76 個市場中,我們看到預混率更高,客戶流失率更低。
Our strategy from the start was to build the network once to meet the needs of the present and to optimize it for the future. And we're doing just that. We have been working with AI for several years, and our powerful network position Verizon to lead the AI revolution. In 2023, we released a set of responsible AI principles to guide our efforts to leverage new AI technologies in ways that positively impact our stakeholders and establish Verizon as a trusted brand and partner with respect to AI.
我們從一開始的策略就是一次建立網路以滿足當前的需求並針對未來進行最佳化。我們正在這樣做。我們多年來一直致力於人工智慧領域,我們強大的網路使 Verizon 能夠引領人工智慧革命。 2023 年,我們發布了一套負責任的人工智慧原則,指導我們努力利用新的人工智慧技術,對利害關係人產生積極影響,並將 Verizon 打造成值得信賴的人工智慧品牌和合作夥伴。
Enabling AI at scale for improved customer service is a key. We're also aggressively driving AI transformative potential with our businesses, something our network was built to support. We already had several generative AI projects going live. Our AI strategy focused on 3 priorities. First, optimizing internal processes and operation through machine learning such as creating efficiencies in fuel consumption. AI is already centered to our cost transformation program and will become even more important over time.
大規模啟用人工智慧以改善客戶服務是關鍵。我們也積極推動我們業務的人工智慧變革潛力,我們的網路就是為了支持這一點而建立的。我們已經有幾個生成式人工智慧專案投入使用。我們的人工智慧策略重點關注 3 個優先事項。首先,透過機器學習優化內部流程和運營,例如提高燃油消耗效率。人工智慧已經成為我們成本轉型計劃的核心,並且隨著時間的推移將變得更加重要。
Secondly, enhancing product experiences with AI capabilities like the personalized plan recommendation on myPlan, which is producing good, early results. And thirdly, establishing an AI-based revenue stream by commercializing our network's unique low latency, high bandwidth and robust mobile edge compute capabilities. Generative AI workloads represent a great long-term opportunity for us.
其次,利用人工智慧功能增強產品體驗,例如 myPlan 上的個人化計畫推薦,該功能正在產生良好的早期效果。第三,透過將我們網路獨特的低延遲、高頻寬和強大的行動邊緣運算能力商業化,建立基於人工智慧的收入流。生成式人工智慧工作負載對我們來說是一個巨大的長期機會。
As we expand our network and increase our performance advantage, we are also making Verizon a more efficient organization. We are back to business as usual level on CapEx spend as we had promised. And we have struck a balance between profitable growth and free cash flow that supports both our dividend and a stronger balance sheet. This gives us greater flexibility to accelerate deleveraging throughout the second half of the year, bringing us closer to our long-term leverage target.
隨著我們擴展網路並提高效能優勢,我們也使 Verizon 成為一個更有效率的組織。正如我們所承諾的那樣,我們的資本支出回到了正常水平。我們在獲利成長和自由現金流之間取得了平衡,這既支持我們的股息,也支持更強勁的資產負債表。這使我們能夠更靈活地在下半年加速去槓桿,使我們更接近長期槓桿目標。
Our dividend is healthy and secure. And our free cash flow dividend payout ratio continues to improve. We are focused on putting our Board in a position to continue to raise the dividend each year, building on our current industry record of 17 consecutive increases.
我們的股利是健康且安全的。我們的自由現金流股利支付率持續提高。我們致力於讓董事會能夠每年繼續提高股息,以目前連續 17 次提高股息的行業記錄為基礎。
Now let me turn the call over to Tony to discuss our financial and operational performance in more detail. Tony?
現在讓我將電話轉給托尼,更詳細地討論我們的財務和營運績效。托尼?
Anthony T. Skiadas - Executive VP & CFO
Anthony T. Skiadas - Executive VP & CFO
Thanks, Hans, and good morning. Our first quarter results demonstrate the strong execution of our team, building on the momentum from 2023 and delivering solid results in our 3 priorities of wireless service revenue, adjusted EBITDA and free cash flow.
謝謝,漢斯,早安。我們第一季的業績證明了我們團隊的強大執行力,在 2023 年的勢頭基礎上,在無線服務收入、調整後 EBITDA 和自由現金流這 3 個優先事項上取得了紮實的成果。
We saw further improvements in postpaid phone net adds and another strong quarter of growth in our broadband subscriber base. We accomplished this while maintaining our promotional discipline as evidenced by our year-over-year adjusted EBITDA growth of 1.4% and more than 16% year-over-year free cash flow growth.
我們看到後付費電話網路增加量進一步改善,寬頻用戶群又一個強勁的季度成長。我們在實現這一目標的同時,保持了促銷紀律,調整後 EBITDA 同比增長 1.4%,自由現金流同比增長超過 16%,證明了這一點。
Consumer postpaid phone net losses were 158,000 for the quarter, better versus the prior year by 105,000 driven by improvements in both gross adds and churn. As Hans mentioned, this represents our best first quarter performance in Consumer postpaid phone net adds since 2018. We continue to see improved operational performance with Consumer postpaid phone gross adds, up more than 5% year-over-year. And as you heard from Hans, we exited the quarter with good momentum.
本季消費者後付費電話淨損失為 158,000 部,比去年同期減少 105,000 部,主要是由於總增加量和流失率的改善。正如Hans 所提到的,這是自2018 年以來我們第一季消費者後付費電話淨增加量的最佳表現。超過5%。正如您從漢斯那裡聽到的那樣,我們以良好的勢頭結束了本季。
The changes we made over the last few quarters, including launching a regional sales structure and updating our sales compensation plans, provide the right framework for our go-to-market approach. We believe these changes, combined with the continued success of myPlan and increased utilization of C-band, will help us sustain our momentum.
我們在過去幾個季度所做的改變,包括啟動區域銷售結構和更新我們的銷售薪酬計劃,為我們的市場進入方法提供了正確的框架。我們相信,這些變化,加上 myPlan 的持續成功和 C 頻段利用率的提高,將幫助我們保持發展勢頭。
Consumer postpaid phone churn of 0.83% represents a 1 basis point improvement year-over-year. This result is a reflection of the strength of our value proposition as well as our high-quality customer base. The first quarter postpaid phone net add improvement coincided with a further decline in upgrades, which were down nearly 21% year-over-year. We continue to see success with our disciplined and segmented approach to customer offers, in alignment with our strategy.
消費者後付費電話流失率為 0.83%,較去年同期提升 1 個基點。這一結果反映了我們價值主張的強度以及我們高品質的客戶群。第一季後付費電話淨增加量改善的同時,升級量進一步下降,較去年同期下降近 21%。我們繼續透過與我們的策略保持一致的嚴格和細分的客戶服務方法取得成功。
On the Business side, we delivered 90,000 postpaid phone net adds. Business volume results were challenged early in the quarter as the team implemented pricing increases in January. However, we saw positive net add momentum built throughout the quarter, and we exited the quarter well positioned to continue to build on operational improvements in both mobility and broadband.
在業務方面,我們交付了 90,000 個後付費電話網路新增用戶。由於團隊在一月份實施了價格上漲,因此本季初的業務量結果受到了挑戰。然而,我們看到整個季度建立的積極的淨成長勢頭,並且我們在本季度結束時處於有利地位,可以繼續在行動和寬頻方面進行營運改善。
That sales performance helped Verizon Business achieve fixed wireless access net adds of 151,000, their best quarterly result to date. We've been pleased with how businesses have adopted FWA, and we continue to see strong demand from small businesses and enterprises, which are attracted to the ease of deployment, reliability and the flexibility of the product.
這項銷售業績幫助 Verizon Business 實現了固定無線接入淨增 151,000 戶,這是迄今為止最好的季度業績。我們對企業採用 FWA 的方式感到滿意,並且我們繼續看到小型企業和企業的強勁需求,他們被該產品的易於部署、可靠性和靈活性所吸引。
Fixed wireless net adds for Consumer were 203,000, resulting in a consolidated total of 354,000. This reflects the attractiveness of FWA as an alternative to traditional cable broadband, even in the market that saw muted activity. We continue to be comfortable with this pace of growth, believing it provides the right combination of base growth, ARPU accretion and the superior experience our customers expect on the Verizon network.
消費者固定無線網路新增 203,000 個,綜合總數達 354,000 個。這反映出 FWA 作為傳統有線寬頻替代方案的吸引力,即使在市場活動冷淡的情況下也是如此。我們仍然對這種成長速度感到滿意,相信它提供了基數成長、ARPU 成長和客戶期望在 Verizon 網路上的卓越體驗的正確組合。
And our third-party Net Promoter Scores for our FWA product continue to outpace traditional cable broadband offerings as we remain focused on building a long-term sustainable business. Overall, broadband net adds were 389,000, including 53,000 Fios Internet net adds. We're pleased with how Fios continues to grow in the marketplace even as move activity across the country remains lower than prior years.
由於我們仍然專注於建立長期可持續的業務,我們的 FWA 產品的第三方淨推薦值繼續超過傳統的有線寬頻產品。整體而言,寬頻淨增人數為 389,000 人,其中 Fios 網路淨增人數為 53,000 人。我們對 Fios 在市場上的持續成長感到滿意,儘管全國各地的搬家活動仍然低於往年。
We finished the quarter with over 11.1 million broadband subscribers, including over 3.4 million on FWA. We've now added more than 3 million broadband subscribers in the last 2 years alone. On prepaid, starting this quarter, we are disclosing subscriber results with and without our SafeLink brand. This disclosure provides improved transparency into our prepaid results. As a reminder, SafeLink is our government subsidy program brand offering and holds the majority of our ACP customers.
本季結束時,我們擁有超過 1,110 萬寬頻用戶,其中 FWA 超過 340 萬。光是過去兩年,我們就增加了超過 300 萬寬頻用戶。在預付費方面,從本季開始,我們將揭露使用和不使用 SafeLink 品牌的訂戶結果。這項揭露提高了我們預付費結果的透明度。提醒一下,SafeLink 是我們的政府補貼計畫品牌產品,擁有我們的大多數 ACP 客戶。
The actions we've taken to scale Visible and Total By Verizon as well as address operational execution with Straight Talk drove improvements in our prepaid performance. Prepaid net losses, excluding SafeLink, were better by 146,000 year-over-year.
我們為擴展 Verizon 的 Visible 和 Total 以及透過 Straight Talk 解決營運執行問題而採取的行動推動了我們預付費績效的改進。預付淨虧損(不包括 SafeLink)年減 146,000 美元。
While we are pleased to see the improvements, we still have work to do to address challenges in the prepaid business. That includes navigating the uncertainty around ACP. And we recently announced plans to provide accessible, affordable and reliable connectivity options for those who need it most. As a reminder, we have approximately 1.1 million prepaid ACP subscribers as of the end of the first quarter. We expect the elimination of the program to result in lower wireless service revenue that have minimal impact on our adjusted EBITDA.
雖然我們很高興看到這些改進,但我們仍然需要努力應對預付費業務的挑戰。這包括應對 ACP 周圍的不確定性。我們最近宣布了計劃,為最需要的人提供可訪問、負擔得起且可靠的連接選項。提醒一下,截至第一季末,我們擁有約 110 萬預付費 ACP 用戶。我們預計取消該計劃將導致無線服務收入下降,這對我們調整後的 EBITDA 影響最小。
Moving to our financials. Consolidated revenue for the quarter was $33 billion, up 0.2% year-over-year. The benefits of the pricing actions we took in the quarter, combined with improved operating metrics, offset the year-over-year decrease in wireless equipment revenue due to lower upgrades. Wireless service revenue growth was 3.3% for the first quarter. This represents a significant acceleration in our revenue growth. And the full year 2023 growth rate, excluding the reallocation of certain revenues, was only 1.3%.
轉向我們的財務狀況。該季度綜合營收為 330 億美元,年增 0.2%。我們在本季採取的定價行動的好處,加上營運指標的改善,抵消了因升級減少而導致的無線設備收入年減。第一季無線服務營收成長3.3%。這代表我們的收入成長顯著加速。而剔除某些收入的重新分配,2023年全年成長率僅1.3%。
Consumer led the way with wireless service revenue growth of 3.4%, driven by ARPA growth of 4.4% and improved year-over-year postpaid phone net add performance. In addition to targeted pricing actions, ARPA continues to benefit from the further adoption of myPlan. myPlan has been instrumental in growing our premium mix, which now stands at 42% of our postpaid phone base. We're also starting to see a growing impact from (inaudible) revenue as we scale the number of subscriptions. With over 20% of the postpaid base on myPlan, we see further opportunities for ARPA accretion as we expect to double the number of customers on myPlan in our postpaid base by the end of this year.
受 ARPA 成長 4.4% 以及後付費電話淨增加業績年增率改善的推動,消費者業務一馬當先,無線服務收入成長 3.4%。除了有針對性的定價行動之外,ARPA 也繼續受益於 myPlan 的進一步採用。 myPlan 在擴大我們的高端產品組合方面發揮了重要作用,目前該產品占我們後付費電話基數的 42%。隨著訂閱數量的增加,我們也開始看到(聽不清楚)收入的影響越來越大。由於 myPlan 超過 20% 的後付費客戶群使用 myPlan,我們看到了 ARPA 成長的更多機會,因為我們預計到今年年底,我們的後付費客戶群中 myPlan 的客戶數量將增加一倍。
For the first time, we are disclosing fixed wireless access revenue within our externally released results. FWA revenue, which is included in wireless service revenue, was $452 million for the quarter, up nearly $200 million versus the prior year. Headwinds in prepaid revenue continue to partially offset the gains from ARPA performance in wireless service revenue. For the quarter, prepaid revenue declined $106 million versus the prior year. While this is an improvement over the prior quarter, it represented an approximately 60 basis point drag on total wireless service revenue growth.
我們首次在外部發布的業績中揭露固定無線接取收入。本季 FWA 營收(包含在無線服務收入中)為 4.52 億美元,比上年增長近 2 億美元。預付費收入的逆風持續部分抵銷 ARPA 無線服務收入表現的收益。本季預付費收入比上年下降 1.06 億美元。雖然這比上一季有所改善,但對無線服務總收入成長造成了約 60 個基點的拖累。
Consolidated adjusted EBITDA was approximately $12.1 billion for the quarter, an increase of 1.4% compared to the prior year, driven by the growth in wireless service revenue as well as the impact of lower upgrade volumes. With a full quarter's impact from our recent pricing actions, we anticipate the second quarter's adjusted EBITDA growth to accelerate year-over-year.
該季度綜合調整後 EBITDA 約為 121 億美元,比上年增長 1.4%,這主要得益於無線服務收入的增長以及升級量下降的影響。鑑於我們最近的定價行動對整個季度的影響,我們預計第二季調整後的 EBITDA 成長將比去年同期加速。
Operating expenses, excluding depreciation and amortization and special items, were down 0.5% year-over-year. Lower cost of equipment and cost of services were partially offset by an increase in SG&A. Adjusted EPS in the quarter was $1.15, down 4.2% compared to the prior year as gains in adjusted EBITDA were more than offset by higher interest expense, predominantly due to the lower capitalized interest now that a large portion of the C-band spectrum licenses have been placed into service.
不包括折舊、攤提和特殊項目的營運費用較去年同期下降 0.5%。設備成本和服務成本的降低被銷售、管理費用的增加部分抵銷。本季調整後每股盈餘為1.15 美元,較上年下降4.2%,原因是調整後EBITDA 的收益被較高的利息支出所抵消,這主要是由於目前大部分C 頻段頻譜許可證已獲得資本化利息,因此資本化利息較低。
Free cash flow for the first quarter was $2.7 billion, up over 16% or nearly $400 million from the first quarter 2023. On a full year basis, nothing has changed. With free cash flow, we still expect the same puts and takes we shared with you in January.
第一季的自由現金流為 27 億美元,比 2023 年第一季成長超過 16%,即近 4 億美元。有了自由現金流,我們仍然期望我們在一月份與您分享的相同的看跌期權和看跌期權。
As Hans said, we expect free cash flow to build throughout the year, similar to 2023. Cash flow from operating activities came in at $7.1 billion. Within the quarter, we saw year-over-year pressures from higher interest expense primarily related to the reduction in capitalized interest. We also made a discretionary pension contribution of $365 million, prior to the closing of the retiree pension annuity transaction that we previously disclosed.
正如 Hans 所說,我們預計全年自由現金流將會增加,與 2023 年類似。在本季度內,我們看到利息支出增加帶來的年比壓力,主要與資本化利息的減少有關。在我們先前揭露的退休人員退休金年金交易結束之前,我們還繳納了 3.65 億美元的酌情退休金繳款。
CapEx for the quarter was $4.4 billion compared to $6 billion in the prior year as a result of our return to BAU levels of spend and historical levels of capital intensity. Our full year guidance of $17 billion to $17.5 billion in CapEx spending remains unchanged. Net unsecured debt at the end of the quarter was $126 billion, a $3.7 billion improvement year-over-year and a nearly $400 million improvement sequentially. During the quarter, we issued our sixth green bond for $1 billion with proceeds committed to fund additional renewable energy purchases. Net unsecured debt was also impacted by payments of approximately $270 million related to clearance of our C-band spectrum licenses, which are now substantially complete. While these payments do not affect our free cash flow, they are use of cash.
由於我們恢復了 BAU 支出水平和資本密集度的歷史水平,本季的資本支出為 44 億美元,而上一年為 60 億美元。我們全年 170 億至 175 億美元資本支出指引維持不變。本季末的淨無擔保債務為 1,260 億美元,年減 37 億美元,季減近 4 億美元。本季度,我們發行了第六隻 10 億美元的綠色債券,所得資金致力於為額外的再生能源購買提供資金。淨無擔保債務也受到與 C 頻段頻譜許可許可相關的約 2.7 億美元付款的影響,該許可證現已基本完成。雖然這些付款不會影響我們的自由現金流,但它們是現金的使用。
Our net unsecured debt consolidated adjusted EBITDA ratio was 2.6x, in line with the previous quarter. Given the strength and momentum of our business, we continue to see a clear path to meaningfully delever the balance sheet in the second half of this year.
我們的淨無擔保債務綜合調整後 EBITDA 率為 2.6 倍,與上一季持平。鑑於我們業務的實力和勢頭,我們繼續看到今年下半年有意義地去槓桿化資產負債表的明確道路。
In closing, I'm happy with our start to 2024, and our results from the first quarter set us up well to deliver on our financial guidance for the year. Our disciplined approach continues to put us in a strong position to execute on our capital allocation priorities. Our focus remains on driving operational improvements throughout the year.
最後,我對 2024 年的開局感到滿意,第一季的業績使我們能夠很好地實現今年的財務指導。我們嚴謹的方法繼續使我們處於有利地位,能夠執行我們的資本配置優先事項。我們的重點仍然是全年推動營運改善。
With that, I will now turn the call back to Hans for his closing thoughts before opening the call up for your questions.
現在,我現在將把電話轉回漢斯,詢問他的總結想法,然後再開始詢問你們的問題。
Hans E. Vestberg - Chairman & CEO
Hans E. Vestberg - Chairman & CEO
Thank you, Tony. I'm proud of our team and pleased with our financial and operational performance in the first quarter. We exited the quarter with good momentum across the business, positioning us well for the year ahead.
謝謝你,托尼。我為我們的團隊感到自豪,並對我們第一季的財務和營運表現感到滿意。我們以整個業務的良好勢頭結束了本季度,為我們未來的一年做好了準備。
We're scaling fixed wireless access and private networks while growing our core mobility business. Our disciplined, targeted and segmented consumer strategy continues to prove itself. And we will apply the same level of energy and execution to the prepaid market. Network excellence drives our business forward, and we will not let up on that. Our consistent network investment puts us in an unmatched position to deliver AI services at scale.
我們正在擴展固定無線存取和專用網絡,同時發展我們的核心行動業務。我們嚴謹、有針對性和細分的消費者策略不斷證明自己。我們將把同樣水準的精力和執行力運用到預付費市場。卓越的網絡推動我們的業務向前發展,我們不會放棄這一點。我們持續的網路投資使我們在大規模提供人工智慧服務方面處於無與倫比的地位。
Finally, our cash flow generation is solid. This shows that we are executing well against our financial objectives. Our cash flow strength allows us to deliver on our capital allocation priorities, including supporting our dividend and paying down our debt. With strong momentum already in the start of the second quarter, I'm confident in our ability to sustain progress towards unlocking Verizon's full potential for all stakeholders.
最後,我們的現金流產生穩定。這表明我們在實現財務目標方面表現良好。我們的現金流實力使我們能夠實現我們的資本配置優先事項,包括支持我們的股利和償還我們的債務。憑藉第二季初的強勁勢頭,我相信我們有能力持續取得進展,為所有利害關係人釋放 Verizon 的全部潛力。
Now, Brady, we are ready to take questions.
現在,布雷迪,我們準備好回答問題。
Brady Connor - SVP of IR
Brady Connor - SVP of IR
Thanks, Hans. Brad, we're ready for the first question.
謝謝,漢斯。布拉德,我們準備好回答第一個問題了。
Operator
Operator
(Operator Instructions) Your first question will come from Simon Flannery of Morgan Stanley.
(操作員說明)您的第一個問題將由摩根士丹利的西蒙·弗蘭納裡(Simon Flannery)提出。
Simon William Flannery - MD
Simon William Flannery - MD
Hans, maybe we can talk about the consumer a little bit. It was good to see the churn number. Perhaps you could just talk a little bit about the impact of the pricing there. It seems like it had a drag on Business but less of a drag on Consumer.
漢斯,也許我們可以談談消費者。很高興看到客戶流失率。也許您可以簡單談談那裡定價的影響。它似乎對企業造成了拖累,但對消費者的拖累卻較小。
And just what are you seeing overall in the wireless market growth? It seems like the industry is continuing to grow. There's been some competitive moves by some of the cable companies recently. Maybe just comment on the overall environment out there and your ability to sustain this as well as the low upgrade rates.
您對無線市場的整體成長有何看法?看起來這個行業正在持續成長。最近一些有線電視公司採取了一些競爭措施。也許只是評論一下那裡的整體環境和你維持這種環境的能力以及低升級率。
And then just a quick one, Tony, for you on cash flow. Thank you for the comments around the pacing through the year. Could you just talk about working capital and the impact this quarter? It seemed like there were some drags from that on the quarterly number.
東尼,然後簡單介紹一下現金流。感謝您對這一年的節奏發表評論。您能談談營運資金以及本季的影響嗎?這似乎對季度數據造成了一些拖累。
Hans E. Vestberg - Chairman & CEO
Hans E. Vestberg - Chairman & CEO
Thank you, Simon. Let me start with the Consumer business. That, I mean, as we saw in the quarter, it was a little bit slow in the beginning of the quarter, both for Consumer and for Business when it comes to wireless. But then, I think we clearly see that our products are resonating with the customers. And on the Consumer side, myPlan is really doing well. And as Tony said in the prepared remarks, I mean, the perks is not coming up. Our premium is also increasing. So clearly, we see that.
謝謝你,西蒙。讓我從消費者業務開始。我的意思是,正如我們在本季看到的那樣,在無線方面,無論是消費者還是企業,在本季初都有點慢。但我認為我們清楚地看到我們的產品正在引起客戶的共鳴。在消費者方面,myPlan 確實做得很好。正如托尼在準備好的演講中所說,我的意思是,福利還沒有出現。我們的保費也在增加。很明顯,我們看到了這一點。
At the same time, the team has spent a lot of time to be disciplined, both with promotions and churn management. And you saw we had the price up in the quarter on Consumer that was pretty wide. But our team actually kept the churn down on the Consumer side.
同時,團隊花了很多時間遵守紀律,包括晉升和流失管理。你看到我們在本季對消費者的價格上漲了相當大的幅度。但我們的團隊實際上減少了消費者方面的流失。
I mean it shows, first of all, how great our product is but also see how well we're using the AI tools and all of that to see that our customers are getting the value. And we are actually directing the money to the right customers. That's what you see coming out in the financial discipline in everything we're doing.
我的意思是,它首先展示了我們的產品有多出色,而且還展示了我們如何很好地使用人工智慧工具以及所有這些,以確保我們的客戶正在獲得價值。我們實際上是把錢投向了正確的客戶。這就是我們在財務紀律中所看到的一切。
Yes, the promotions was lower again this quarter. But again, it's a way for us to segment the market to see that we have the right products. And that's what we've seen for quite a while right now on the Consumer side. And what I said also is that we -- as I said several times right now, we expect Consumer to be positive net adds this year. So they are doing it. And (inaudible) and team probably have even more innovations coming. And when myPlan was one, the perks and other, they have more things to come during the year. So I'm really excited about what we're doing on the wireless side. And of course, competition is the same. There's nothing new, but it's the same as we've seen for quite a while. But we just performed way better.
是的,本季的促銷活動再次減少。但同樣,這是我們細分市場的一種方式,以確保我們擁有合適的產品。這就是我們長期以來在消費者方面看到的情況。我還說過,正如我多次說過的那樣,我們預計今年的消費者淨成長將是正數。所以他們正在這樣做。 (聽不清楚)和團隊可能會有更多創新。當我的計劃是其中之一時,福利和其他,他們在這一年裡有更多的事情要做。所以我對我們在無線方面所做的事情感到非常興奮。當然,競爭也是一樣的。沒有什麼新的,但它與我們已經看到很長一段時間的一樣。但我們只是表現得更好了。
We have the right product, we have the right people, we have right -- made the right changes in operational model. And that's what we're seeing right now. And now we move all that into prepaid, and you saw that we're also doing prepaid better. But still, we have more to be done. The team has their heads down, very focused on execution. Very pleased we have seen so far. That doesn't mean we're not going to push even harder going forward. Tony?
我們擁有合適的產品,我們有合適的人員,我們對營運模式做出了正確的改變。這就是我們現在所看到的。現在我們將所有這些都轉為預付費,您會發現我們的預付費也做得更好。但我們還有更多工作要做。團隊低著頭,非常專注於執行。到目前為止我們所看到的非常高興。這並不意味著我們不會更加努力地前進。托尼?
Anthony T. Skiadas - Executive VP & CFO
Anthony T. Skiadas - Executive VP & CFO
Yes, sure. So a couple of points on churn. So the results on C-band are significantly better. We see strong churn performance, high premium mix and also higher gross adds in C-band markets.
是的,當然。關於客戶流失有幾點。所以C波段的結果明顯比較好。我們看到 C 頻段市場的強勁客戶流失表現、高溢價組合以及更高的總增量。
And overall in 2024, it's reasonable to expect similar or lower churn in the Consumer business compared to 2023. And then on your cash flow question, in the prepared remarks, we said that free cash flow would have a similar shape to last year and build throughout the year. We do expect free cash flow to be up meaningfully in the second quarter. We still see the same puts and takes on free cash flow for the full year, as we described in January. So nothing's really changed there.
總體而言,到2024 年,與2023 年相比,消費者業務的流失率預計會類似或更低。 ,並建立全年。我們確實預計第二季自由現金流將大幅增加。正如我們在一月份所描述的那樣,我們仍然看到全年的自由現金流量與看跌期權和認購期權相同。所以那裡什麼都沒有真正改變。
On your question on the quarter. Let me start with operating cash flow. Let me unpack that for you. So we saw the discretionary pension contribution in the quarter. That was $365 million, in connection with the pension annuitization transaction that we announced in early March. As we said previously, a lower capitalized interest from C-band now manifest itself in operating cash flow, and that was about $300 million higher year-over-year.
關於你關於本季的問題。讓我從經營現金流開始。讓我為您解壓縮。因此,我們看到了本季的可自由支配退休金繳款。這是 3.65 億美元,與我們 3 月初宣布的退休金年金交易有關。正如我們之前所說,C 級資本利息的降低現在體現在營運現金流上,年比增加了約 3 億美元。
And the third point I'd make is we're funding the business for growth and very, very confident in our ability to execute. And you saw that, again, you saw the growth in the fourth quarter with strong gross adds. And we followed that up with 5% gross add growth in the Consumer business in the first quarter. And with that growth comes working capital timing that will settle in the second quarter. But overall, we're very confident in the cash generation of the business. And nonetheless, we expect to generate strong free cash flow. And we see no obstacles in paying down debt in a meaningful way in the second half of 2024.
我要說的第三點是,我們正在為業務成長提供資金,並且對我們的執行能力非常非常有信心。您再次看到,您看到了第四季度的成長和強勁的總成長。我們緊隨其後,第一季消費者業務的總附加價值成長了 5%。隨著這種增長,營運資金的時間安排將在第二季解決。但總的來說,我們對業務的現金產生非常有信心。儘管如此,我們預計將產生強勁的自由現金流。我們認為 2024 年下半年以有意義的方式償還債務不會遇到任何障礙。
Operator
Operator
The next question comes from John Hodulik of UBS.
下一個問題來自瑞銀集團的約翰‧霍杜里克。
John Christopher Hodulik - MD, Sector Head of the United States Communications Group and Telco & Pay TV Analyst
John Christopher Hodulik - MD, Sector Head of the United States Communications Group and Telco & Pay TV Analyst
First, just a couple of quick follow-ups on Simon's question. Number one, the positive commentary you guys talked about with March. Does that suggest you guys could be positive in terms of Consumer phone adds in the second quarter? It's number one. Number two, the price increase seemed to be digested pretty well, and you actually saw churn come down. Does that suggest you guys have more pricing power than you thought, and we could see not just for you but for the industry, and we could see more in the future? That's number two.
首先,對西蒙的問題進行一些快速跟進。第一,你們對馬奇的正面評價。這是否顯示你們對第二季度消費者手機的增加持正面態度?這是第一名。第二,價格上漲似乎得到了很好的消化,而且您實際上看到了客戶流失率下降了。這是否表明你們擁有比你們想像的更多的定價能力,我們不僅可以看到你們,也可以看到整個行業,並且我們可以在未來看到更多?這是第二位。
And then on ACP, I noticed you guys announced some new plans with free -- sort of low-end plans on the broadband side with free service for 6 months. You've talked about some of the headwinds as ACP goes away. But do you believe that there's an opportunity to potentially win some broadband subs as that plays out?
然後在 ACP 上,我注意到你們宣布了一些免費的新計劃——一些寬頻方面的低端計劃,提供 6 個月的免費服務。您談到了 ACP 消失後的一些不利因素。但您是否相信隨著這一過程的展開,有機會贏得一些寬頻用戶?
Hans E. Vestberg - Chairman & CEO
Hans E. Vestberg - Chairman & CEO
Thank you, John. On the first question there on Consumer net adds in the short term, I stay on my previous comment, consumer net adds should be positive in 2024. The team is, of course, doing quite good right now and actually 100,000 better in the first quarter here on net adds. So let them continue to execute. They have a great product that resonate with the market, and they will continue to execute well on that.
謝謝你,約翰。關於短期內消費者淨增加的第一個問題,我保留之前的評論,消費者淨增加在 2024 年應該是積極的。網上新增。所以就讓他們繼續執行吧。他們擁有能引起市場共鳴的出色產品,並且將繼續在這方面表現出色。
On the churn side, I. think, first of all, I mean, if you look at the market, of course, we see both inflation and a higher interest rate and seeing it. But think about the product, first of all, so good right now. I mean everybody needs wireless and broadband. And I think that, that has improved quite dramatically over the last couple of years.
在流失方面,我認為,首先,我的意思是,如果你看看市場,當然,我們會看到通貨膨脹和更高的利率。但先想想產品,現在很好。我的意思是每個人都需要無線和寬頻。我認為,在過去的幾年裡,這種情況已經有了很大的改善。
Secondly, our products right now are so well segmented with different segments or different groups. And thirdly, we're laser-focused on churn management. I mean the team with Sampath, the AI tools we have. So we actually spend on the right customers when we see they have a churn. So all that came together despite that we had a price adjustment that was large in the Consumer group in the second quarter.
其次,我們現在的產品已經很好地細分為不同的細分市場或不同的群體。第三,我們高度重視客戶流失管理。我指的是 Sampath 團隊,我們擁有人工智慧工具。因此,當我們看到合適的客戶流失時,我們實際上會在他們身上花錢。因此,儘管我們在第二季度對消費者群體進行了大幅價格調整,但所有這些都匯集在一起。
The same goes for our Business wireless. They performed well in the quarter. They had a little bit slow in the beginning of the year but ramped really nicely also in the quarter. And again, they are market share leader on the wireless, and they continue to be positive. So I'm pleased with that.
我們的商務無線也是如此。他們在本季表現良好。他們在年初的速度有點慢,但本季的成長也非常好。再次,他們是無線市場份額的領導者,並且他們繼續保持積極的態度。所以我對此很滿意。
On the ACP, I will let Tony comment on it. The only thing I want to say, I think -- we think it's important that everyone in this country should be able to have wireless and broadband because it's such an essential service today. So that's why we historically already have plans on Fios that are for low-income families, but also the whole prepaid family of products we have is also addressing that. Again, going back to being able to support that regardless if it's the recent ACP or not, but our segmentation model. And lastly, I think on the churn, our high-quality customers, which is best in the industry, that is really playing out in this environment with the products we have. Tony?
關於 ACP,我會讓托尼評論一下。我想我想說的唯一一件事是——我們認為這個國家的每個人都應該能夠擁有無線和寬頻,這一點很重要,因為它是當今如此重要的服務。這就是為什麼我們歷來就已經制定了針對低收入家庭的 Fios 計劃,而我們擁有的整個預付費產品系列也在解決這個問題。再次,回到能夠支持這一點,無論是否是最近的 ACP,而是我們的細分模型。最後,我認為在客戶流失方面,我們的高品質客戶是業內最好的,在這種環境下我們擁有的產品確實發揮了作用。托尼?
Anthony T. Skiadas - Executive VP & CFO
Anthony T. Skiadas - Executive VP & CFO
Sure. And John, so in terms of ACP, we stopped enrollments in February and still accepting transfers through May. As we said previously in the prepared remarks, the majority of the exposure is in the prepaid business. And we have 1.1 million prepaid subs that are in the ACP program. We've said previously that the guidance assumed that the ACP funding stays intact. The impact or any impact would be seen on service revenue up to potential 50 basis points of headwind. And the margin exposure from ACP is actually very small. It was insignificant in the first quarter.
當然。約翰,就 ACP 而言,我們在 2 月停止了招生,但到 5 月仍然接受轉學。正如我們之前在準備好的評論中所說,大部分風險來自預付費業務。我們有 110 萬預付費訂閱者參與 ACP 計畫。我們之前說過,該指導意見假設 ACP 資金保持不變。這種影響或任何影響都會對服務收入造成潛在的 50 個基點的逆風影響。 ACP 的保證金風險實際上非常小。第一季的影響微乎其微。
If nothing changes and the funding goes away in May as is planned, and we have plans in place to address it both from retention and potential acquisition opportunities as well. And obviously, we'll continue to help everybody, update everybody as we know more.
如果沒有任何變化並且資金按計劃在 5 月消失,我們已經制定計劃透過保留和潛在的收購機會來解決這個問題。顯然,我們將繼續幫助每個人,並在我們了解更多資訊時向每個人通報最新情況。
Operator
Operator
The next question comes from Michael Rollins of Citigroup.
下一個問題來自花旗集團的麥可‧羅林斯。
Michael Ian Rollins - MD & U.S. Telecoms Analyst
Michael Ian Rollins - MD & U.S. Telecoms Analyst
Just curious if you could unpack a bit more of how you're thinking about the up-tiering opportunity within the postpaid phone base? And as you look at the perks, is there a way that we should think about the revenue contribution from perks and where that can go over time as an incremental way for Verizon to monetize the base?
只是好奇您是否可以更多地了解您如何看待後付費電話基礎中的升級機會?當你審視福利時,我們是否應該考慮福利所帶來的收入貢獻,以及隨著時間的推移,作為 Verizon 基礎貨幣化的增量方式,這種福利可以走向何方?
Hans E. Vestberg - Chairman & CEO
Hans E. Vestberg - Chairman & CEO
Thanks, Mike. Yes, this is a long-term strategy of us. First of all, we have rate base of customers. We want to give them the flexibility on the Consumer side. Then we add in the perks. Of course, all that plays into a value play for our customers even though we up-tier our customers, and that has gone very well. I mean we said in the prepared remarks that almost 1/4 of our customers have myPlan right now, and we are expecting it to go to almost or go to half of the base, which is we never had a product moving that fast because it resonates with the market.
謝謝,麥克。是的,這是我們的長期策略。首先,我們有客戶的費率基礎。我們希望為他們提供消費者方面的彈性。然後我們添加額外的福利。當然,儘管我們提升了客戶的級別,但所有這些都為我們的客戶帶來了價值,而且進展非常順利。我的意思是,我們在準備好的評論中說過,現在幾乎1/4 的客戶擁有myPlan,我們預計它會達到幾乎或一半的基數,這是我們從未有過產品移動得如此之快,因為它與市場產生共鳴。
In there, we have opportunities for both up-tiering and then adding service, all incremental for our bottom line and accretive. And many of these offerings are savings for our customer, which is just great. I mean the Max Netflix is, for example, is a great saving, great product. We are the only one in the market that can do that in wireless. It's exclusive. And that's the type of things we do on perks, very different rather.
在那裡,我們有機會進行升級,然後添加服務,所有這些都會增加我們的利潤和增值。其中許多產品都為我們的客戶節省了成本,這真是太好了。我的意思是,例如,Max Netflix 是一款非常節省成本的出色產品。我們是市場上唯一能夠在無線領域做到這一點的公司。這是獨一無二的。這就是我們靠福利做的事情,非常不同。
I would be -- I wouldn't say shocked, but I would be, at least, surprised if Sampath and the Consumer team doesn't continue to think how they can enlighten our customers even more with these type of things going forward. Tony?
我不會說感到震驚,但如果 Sampath 和消費者團隊不繼續思考如何透過這種事情進一步啟發我們的客戶,我至少會感到驚訝。托尼?
Anthony T. Skiadas - Executive VP & CFO
Anthony T. Skiadas - Executive VP & CFO
Sure. And Mike, just a couple of other points. So we did see 4.4% ARPA growth in the first quarter. And as Hans talked about it in myPlan, the premium mix is very strong. It's 42% of the lines in the base. And the perk attach rates have steadily increased and will continue to increase. So we feel really good about that and the discipline we see on promotions as well and keeping the amortization pressure on check.
當然。麥克,還有其他幾點。所以我們確實看到第一季 ARPA 成長了 4.4%。正如 Hans 在 myPlan 中談到的那樣,優質組合非常強大。這是基地線路的 42%。津貼附加率穩定上升並將繼續上升。因此,我們對此以及我們在促銷方面看到的紀律以及控制攤銷壓力感到非常滿意。
Michael Ian Rollins - MD & U.S. Telecoms Analyst
Michael Ian Rollins - MD & U.S. Telecoms Analyst
And one other, if I could, on operational efficiencies. It sounds like a few times whether it was talking about AI or just the broader focus on the operations that this is an important priority for Verizon this year. Can you frame how much of the cost-cutting Verizon can deliver this year relative to the multiyear target that the company has established? And are there any milestones that we should be looking for that will signify some further progress on these initiatives?
如果可以的話,另一件事是關於營運效率。聽起來有好幾次,無論是談論人工智慧還是更廣泛地關注運營,這都是 Verizon 今年的一個重要優先事項。您能否概括一下,相對於該公司所製定的多年目標,Verizon 今年可以實現多少成本削減?我們是否應該尋找任何里程碑來表明這些舉措取得了進一步進展?
Hans E. Vestberg - Chairman & CEO
Hans E. Vestberg - Chairman & CEO
Thank you. First of all, we're on track for our cost target that we have given for the Street. Secondly, many of the larger so-called transactions and platform transaction, we started already last year. The outsourcing to HL, the customer care changes we did, which are large transactions without any interruptions for our customers. We have done those. They are coming into the base in '24 and of course, full year '25.
謝謝。首先,我們正在實現為華爾街設定的成本目標。其次,很多較大的所謂交易和平台交易,我們去年就已經開始了。外包給 HL,我們所做的客戶服務變更,這些都是大型交易,不會對我們的客戶造成任何干擾。我們已經做到了這些。他們將於 24 年進入基地,當然還有 25 年全年。
Then what I'm adding now is our opportunity in AI. Many of these things, of course, already thought about. But of course, we see a great opportunity with AI to serve our customers better. We're already using, for example, personalization in myPlan with AI. And we're using it in our network when it comes to performance of the capacity deployment as well as power consumption.
那我現在要補充的是我們在人工智慧方面的機會。當然,其中許多事情已經被考慮過。當然,我們看到了人工智慧為我們的客戶提供更好服務的絕佳機會。例如,我們已經在 myPlan 中使用 AI 進行個人化。當涉及到容量部署的效能以及功耗時,我們在網路中使用它。
So we are using AI and generative AI already now commercially. So this is not the playing ground for us. And we will see more opportunities. On the flip side, we, of course, also see revenues. Our network was built for AI. That was my thought when I build Verizon Intelligent Edge Network 5 years ago or 6 years ago, that we're going to have compute and storage at the edge. AI is sort of built for that with the low latency we have on the 5G network.
所以我們現在已經在商業上使用人工智慧和生成式人工智慧。所以這裡不是我們的遊樂場。我們將會看到更多的機會。另一方面,我們當然也看到收入。我們的網路是為人工智慧而建構的。這是我在 5 年前或 6 年前建立 Verizon 智慧邊緣網路時的想法,我們將在邊緣擁有運算和儲存。人工智慧是為 5G 網路的低延遲而建置的。
And as we are deploying our 5G right now with the mobile edge compute and AI, this is a great long-term opportunity for us using AI. So there are multiple places we see efficiencies but also revenue opportunities with all the new technologies coming. Tony, anything else on the savings?
由於我們現在正在透過行動邊緣運算和人工智慧部署 5G,這對於我們使用人工智慧來說是一個巨大的長期機會。因此,隨著所有新技術的出現,我們在許多地方都看到了效率的提升和收入機會。東尼,還有什麼可以省的嗎?
Anthony T. Skiadas - Executive VP & CFO
Anthony T. Skiadas - Executive VP & CFO
Yes, Mike, just to add a couple of things. So obviously as Hans said, we're on track with the program. And those savings were contemplated in the guide. We're not going to discuss specific cost targets. But as Hans mentioned, we're operating a lot differently. And we feel really good about the cost actions that we're taking and the progress that we're making that are driving the EBITDA improvements that you saw in the first quarter and that we expect throughout 2024.
是的,麥克,我想補充幾件事。顯然,正如漢斯所說,我們正在按計劃進行。指南中也考慮到了這些節省。我們不會討論具體的成本目標。但正如漢斯所說,我們的運作方式有很大不同。我們對我們正在採取的成本行動和正在取得的進展感到非常滿意,這些行動正在推動 EBITDA 的改善,您在第一季度看到了這一點,我們預計整個 2024 年也會實現這一點。
Operator
Operator
The next question comes from Kannan Venkateshwar of Barclays.
下一個問題來自巴克萊銀行的 Kannan Venkateshwar。
Kannan Venkateshwar - Director & Senior Research Analyst
Kannan Venkateshwar - Director & Senior Research Analyst
Hans, maybe one industry question for you. There's, obviously, a lot of assets up for sale, some smaller ones, some potentially bigger ones. There's also been talk about your potential interest in maybe partnering with ESPN in some form. Could you talk about how you see the industry structure evolving from here? Do you see this as some kind of equilibrium? Or is there any need for or an opportunity from your perspective in terms of balancing it as a base in a slightly different direction?
漢斯,也許有一個行業問題想問你。顯然,有許多資產待售,其中一些較小,有些可能更大。還有人談到您可能有興趣以某種形式與 ESPN 合作。您能談談您如何看待產業結構的演變嗎?您認為這是某種平衡嗎?或者從您的角度來看,是否有必要或機會在稍微不同的方向上平衡它作為基礎?
Hans E. Vestberg - Chairman & CEO
Hans E. Vestberg - Chairman & CEO
Kannan, thank you for the question. First of all, I think I said it in the beginning of the year, we are getting into a phase after heavy investment, a lot of changes in our asset structure. We're coming into a phase where we have all the assets we need, and we're executing on it. And you see the operational excellence coming out from it last 3 quarters.
坎南,謝謝你的提問。首先,我想我在今年年初就說過,我們正進入一個大投資、資產結構有很大變化的階段。我們正進入這樣一個階段:我們擁有所需的所有資產,而我們正在執行這些資產。您將看到過去三個季度的卓越營運。
I have a team that we managed -- have actually changed quite a lot. We added 2 new team members this quarter. I feel really good where we stand with assets right now and how we're executing. And of course, I can never say never to look into asset. That's my fiduciary responsibility, but I'd rather right now execute on what they have. And you see the performance when we have that with the C-band millimeter wave, the broadband growth we have, almost 400,000 again this quarter. So that's my main focus.
我有一個我們管理的團隊——實際上已經發生了很大的變化。本季我們增加了 2 位新團隊成員。我對我們目前的資產狀況以及我們的執行方式感到非常滿意。當然,我永遠不能說永遠不要研究資產。這是我的信託責任,但我寧願現在就執行他們所擁有的。你可以看到我們在 C 波段毫米波方面的表現,我們的寬頻成長在本季再次成長了近 40 萬個。這就是我的主要關注點。
When it comes to some of the other things that [they had] mentioned, I think we are using our base of distribution to actually work with all the streaming services. And we are uniquely positioned. We are the biggest distribution of direct-to-consumer in the market.
當談到[他們]提到的其他一些事情時,我認為我們正在利用我們的發行基礎來實際與所有串流媒體服務合作。我們的定位獨特。我們是市場上最大的直接面向消費者的經銷商。
We're taking leverage that for our customers and for our shareholders, but also seeing that we help some of these larger streaming services to see that they get better churn and of course, better access to the best consumer base in the United States of America. So we will continue doing that and see that we're doing it in the right way. But again, I'm pleased with the asset base we have today.
我們正在利用這一優勢為我們的客戶和股東服務,同時也看到我們幫助一些較大的串流媒體服務,以確保它們獲得更好的客戶流失率,當然,也能更好地接觸到美國最好的消費者群。因此,我們將繼續這樣做,並確保我們以正確的方式做這件事。但我再次對我們今天擁有的資產基礎感到滿意。
Operator
Operator
The next question comes from David Barden of Bank of America.
下一個問題來自美國銀行的大衛‧巴登。
David William Barden - MD & Global Research US Telecom Services & Communications Infrastructure Senior Analyst
David William Barden - MD & Global Research US Telecom Services & Communications Infrastructure Senior Analyst
I guess my first one was just about the kind of the balance of revenue growth. I think that you guys have talked about kind of a 60-40 balance of pricing and volumes is more normal. And over the last year, it was more skewed to pricing.
我想我的第一個就是關於收入成長的平衡。我認為你們已經討論過 60-40 的定價和銷售平衡更為正常。去年,它更加偏向定價。
I was wondering if you could kind of talk about the relatively healthy 5% growth in gross adds versus what we're watching this quarter happened, which is a decline in accounts. Could you talk a little bit about how you balance the relationship between accounts and gross new subscribers?
我想知道您是否可以談談相對健康的總增加 5% 的增長,以及我們本季度看到的情況,即帳戶下降。您能否談談您如何平衡帳戶和新訂閱者總數之間的關係?
And then the second question is just more of a housekeeping question, which is you guys introduced the second number add-on this past quarter. There's been a lot of questions about where does that show up in the numbers. I'm guessing not in the sub numbers. It's probably -- could you kind of elaborate where we find that in the numbers?
第二個問題更多的是內務問題,就是你們在上個季度引進了第二個數位附加元件。關於這個數字體現在哪裡,有許多疑問。我猜不在子數字中。可能是——你能詳細說明一下我們在數字中哪裡發現了這一點嗎?
Hans E. Vestberg - Chairman & CEO
Hans E. Vestberg - Chairman & CEO
Thank you, David. First of all, our team is very focused to continue to get a little bit more volume in the Consumer side. Remember, on the wireless -- on the Business side, we're already in there. We are taking customers every quarter. We have done it for not sure how many quarters. So it's a little bit different dynamic on the service -- on the Consumer side. We actually had a little bit more challenge in '22. I think since second quarter '23 with our myPlan and offerings, you see a constant improvement how we are actually addressing our customers.
謝謝你,大衛。首先,我們的團隊非常專注於繼續在消費者方面獲得更多的銷售。請記住,在無線方面——在商業方面,我們已經在那裡了。我們每季都會接待客戶。我們已經這樣做了不知道多少個季度。因此,在消費者方面,服務的動態有點不同。事實上,我們在 22 年遇到了更多的挑戰。我認為自 23 年第二季以來,透過我們的 myPlan 和產品,您會看到我們實際滿足客戶需求的方式不斷改進。
So I'm really pleased with that. But we have said or Sampath have said on the Consumer side, he want to have more on the volume side than only on the value side from customers. But that doesn't mean we will continue to get more value with our customers and what we're doing.
所以我對此非常滿意。但我們已經說過,或者薩姆帕斯已經說過,在消費者方面,他希望從客戶那裡獲得更多的數量,而不僅僅是價值。但這並不意味著我們將繼續為我們的客戶和我們正在做的事情創造更多價值。
On the second line, the only thing I want to say there, first of all, the innovation the team is doing right now is based on our strategy. We build the network once. And we want as many profitable connections on the network in order to have the lowest return on -- or the best return on invested capital in the industry. It's just playing straight into that narrative and this, of course, accretive, and we would take the second line in a given time. So again, you showed the innovation. And I'm prepared to see -- or I'm ready to see even more innovation from my team going forward. Tony?
第二行,我唯一想說的是,首先,團隊現在所做的創新是基於我們的策略。我們建構一次網路。我們希望網路上有盡可能多的有利可圖的連接,以便獲得業內最低的投資回報率或最佳的投資回報率。它只是直接進入那個敘述,當然,這是增值的,我們會在給定的時間內採取第二行。你再次展示了創新。我已經準備好看到——或者說我已經準備好看到我的團隊未來的更多創新。托尼?
Anthony T. Skiadas - Executive VP & CFO
Anthony T. Skiadas - Executive VP & CFO
Yes. So Dave, on the second number, it is included in the line count. I mean the one thing we would say is it gives customers flexibility. They can add and remove it as desired. The adoption so far has been good, just a few points on that. It was very low single-digit percentage of phone gross adds in the quarter for Consumer, and we believe there's a limited market for this.
是的。所以戴夫,在第二個數字上,它包含在行數中。我的意思是我們要說的一件事是它為客戶提供了靈活性。他們可以根據需要添加和刪除它。到目前為止,採用情況良好,僅提出幾點。本季消費者手機總銷量的百分比非常低,僅為個位數,我們認為這一市場的市場有限。
As Hans said, it's ARPA and revenue accretive and it's high-margin business. There's no incremental device. There's no incremental data usage. And the results in the quarter reflect the strength of our core business. So as Hans said, we would take a profitable connection any day of the week.
正如 Hans 所說,它可以增加 ARPA 和收入,並且是高利潤業務。沒有增量設備。沒有增量資料使用。本季的業績反映了我們核心業務的實力。因此,正如漢斯所說,我們會在一周中的任何一天進行有利可圖的連接。
Hans E. Vestberg - Chairman & CEO
Hans E. Vestberg - Chairman & CEO
And it goes back to the 3 things that I talked about that we are measured on from our shareholders, from our Board and how I measure my management team is a service revenue growth, is EBITDA and cash flow expansion. That's what we're measured on. Then it's 100 different measurements inside there, but those three are what we're incentivized on, and that's how we run our business.
這可以追溯到我談到的三件事,我們的股東、董事會以及我衡量管理團隊的標準是服務收入成長、息稅折舊攤提前利潤 (EBITDA) 和現金流擴張。這就是我們衡量的標準。然後裡面有 100 種不同的衡量標準,但這三個是我們的激勵因素,這就是我們經營業務的方式。
David William Barden - MD & Global Research US Telecom Services & Communications Infrastructure Senior Analyst
David William Barden - MD & Global Research US Telecom Services & Communications Infrastructure Senior Analyst
Got it. And just to be totally clear, Tony, the -- so of the 5-point-something gross add growth year-over-year in the quarter, maybe 1% or 2% of that was the second number add-ons, which might not continue because there's a finite market for that?
知道了。東尼,要完全清楚的是,本季 5 個百分點的總增量同比增長中,可能有 1% 或 2% 是第二個附加價值,這可能不繼續,因為市場有限?
Anthony T. Skiadas - Executive VP & CFO
Anthony T. Skiadas - Executive VP & CFO
We said it was a very low single-digit percentage of phone gross adds, yes.
是的,我們說過這在手機總增加量中所佔的百分比非常低。
Operator
Operator
The next question comes from Sebastiano Petti of JPMorgan.
下一個問題來自摩根大通的塞巴斯蒂亞諾·佩蒂。
Sebastiano Carmine Petti - Analyst
Sebastiano Carmine Petti - Analyst
Just wondering if you can give us an update on what you're seeing in the overall Consumer broadband and particularly within Consumer fixed wireless? Net adds did slow a little bit sequentially year-on-year. Obviously, the backdrop, you called that the move environment remains a little bit challenged. Are you seeing incremental competition as AT&T Internet Air perhaps ramps up, even though maybe T-Mo is talking about a little bit of a slowdown there? That would be helpful.
只是想知道您是否可以向我們介紹您在整個消費者寬頻(尤其是消費者固定無線領域)中看到的最新情況?淨增加量年比確實略有放緩。顯然,您所說的背景是,行動環境仍然面臨一些挑戰。隨著 AT&T Internet Air 可能會加劇,您是否會看到競爭加劇,儘管 T-Mo 可能正在談論那裡的速度會有所放緩?那會有幫助的。
And then also touching upon, Hans, thinking about your thoughts on 5G use cases, I think you emphasized private networks a few times within the prepared remarks. How are you thinking about the development of the revenue opportunity here maybe relative to how you're thinking about MEC as well? You kind of touched on that and how AI plays into it.
然後,漢斯,考慮您對 5G 用例的想法,我認為您在準備好的演講中多次強調了專用網路。相對於您對 MEC 的看法,您如何看待這裡收入機會的發展?您談到了這一點以及人工智慧如何發揮作用。
Hans E. Vestberg - Chairman & CEO
Hans E. Vestberg - Chairman & CEO
Thank you, Sebastiano. Yes, when we talk about the broadband, first of all, I think Fios continued to be the stellar product. Best fiber product in market, both for this business and for Consumer. You see us continue -- it's a little bit up and down, depending on mover markets and all of that. But we are very consistent on growth in that area. Very pleased with that product.
謝謝你,塞巴斯蒂亞諾。是的,當我們談論寬頻時,首先,我認為 Fios 仍然是出色的產品。市面上最好的纖維產品,無論是對於該企業或消費者。你看到我們繼續下去——有一點上下,這取決於搬家市場和所有這些。但我們對該領域的成長非常一致。對產品非常滿意。
On the fixed wireless access. We continue to see very, very good Net Promoter Score, the easiness of installing it, the greatness of the product, the quality of the product, all that plays in. So you see that when we roll out our C-band, we get new opportunities.
關於固定無線接入。我們繼續看到非常非常好的淨推薦值、安裝的簡便性、產品的偉大性、產品的質量,所有這些都發揮著作用。 。
On the Consumer side, that we saw, of course, as an obvious use case. On the Business side, we're seeing new use cases that we didn't see before. I mean all the way from coffee shops replacing cable with fixed wireless access to large enterprises actually replacing with the fixed wireless access as well for different use cases.
在消費者方面,我們當然將其視為一個明顯的用例。在業務方面,我們看到了以前從未見過的新用例。我的意思是,從咖啡店用固定無線接入替換電纜,到大型企業實際上也針對不同的用例替換固定無線接入。
So you saw we had a super quarter in fixed wireless access in the Business side this quarter. But again, we are dimensioning ourselves to be around 400 net adds quarter-by-quarter. That's how Joe, our Head of Network, is deploying the capital, the resources, so we can handle it. So we're, again, pleased with that. We said it also was a little bit slower broadband market in the beginning of the year. The exit rates were better at the end of the quarter. So all in all, good.
因此,您看到本季我們在業務方面的固定無線存取方面表現出色。但我們再次將自己的規模定為每季淨增加 400 人左右。我們的網路主管喬就是這樣部署資本和資源的,這樣我們就能處理好它。所以我們再次對此感到滿意。我們說過,今年年初寬頻市場的發展速度也稍顯緩慢。本季末的退出率有所改善。總而言之,很好。
On the 5G use cases, yes, now we start talking more and more about private network because the number of them are many, then the value of them are still fairly small. But when we build that base of private network, managed spectrum for enterprises, that's, over time, is going to be a great opportunity for our enterprise sales force to add in, do the mobile edge compute.
在5G用例上,是的,現在我們開始越來越多地談論專用網絡,因為它們的數量很多,那麼它們的價值仍然相當小。但是,當我們為企業建立專用網路和託管頻譜基礎時,隨著時間的推移,這將成為我們的企業銷售人員加入並進行行動邊緣運算的絕佳機會。
And as I said, AI is like that's how we built our mobile edge compute network. And we already have mobile edge compute in many of our sites across the country in order to be able to meet that compute and storage. So over time, long term, and we are a long-term company. We're going to be around for many, many years being telecoms. This is absolutely the right investment. Nobody else has built a network as we have done when it comes to AI network compute storage at edge on the wireless network.
正如我所說,人工智慧就像我們建立行動邊緣運算網路的方式。我們已經在全國各地的許多站點擁有行動邊緣運算,以便能夠滿足運算和儲存的要求。所以隨著時間的推移,從長遠來看,我們是一家長期的公司。電信業將會存在很多很多年。這絕對是正確的投資。在無線網路邊緣的人工智慧網路運算儲存方面,沒有其他人像我們一樣建構網路。
Operator
Operator
The next question comes from Tim Horan of Oppenheimer.
下一個問題來自奧本海默的蒂姆·霍蘭。
Timothy Kelly Horan - MD & Senior Analyst
Timothy Kelly Horan - MD & Senior Analyst
Tony, how sustainable do you think the 4% ARPA growth is? It seems like you have a lot of levers to pull here, and it sounds like you're feeling a little bit more optimistic about that metric longer term. And can you be just a little bit more specific on how much debt you kind of plan on paying down per year, maybe second half this year or next year?
托尼,您認為 ARPA 4% 的成長有多可持續?看起來你有很多槓桿可以拉動,而且聽起來你對這個指標的長期看法更加樂觀。您能否更具體地說明您計劃每年(可能是今年下半年或明年)償還多少債務?
Anthony T. Skiadas - Executive VP & CFO
Anthony T. Skiadas - Executive VP & CFO
Sure. So on the ARPA growth, again, you see the progress on gross adds, and you saw the 5% growth on gross adds. You see the progress with myPlan, and the continued premium mix has been very, very strong on myPlan, and that's continued. So we see a further runway for growth, and you saw it in the first quarter. And as we said in the prepared remarks, we'll see a full quarter's effect of the pricing changes that we announced in the Consumer business, and that launched in March. You'll see a full quarter's effect in the second quarter. So we feel very good about the progress on ARPA and that the team is making. And then on your second question, I'm sorry?
當然。因此,在 ARPA 成長方面,您再次看到總增加的進展,並且您看到總增加量增加了 5%。您可以看到 myPlan 的進展,並且 myPlan 上持續的優質組合非常非常強勁,而且這種情況還在繼續。因此,我們看到了進一步的成長跑道,你在第一季就看到了這一點。正如我們在準備好的評論中所說,我們將看到我們在消費者業務中宣布的定價變化以及 3 月推出的定價變化對整個季度的影響。您將在第二季度看到整個季度的影響。因此,我們對 ARPA 及其團隊正在取得的進展感到非常滿意。那麼關於你的第二個問題,對不起?
Timothy Kelly Horan - MD & Senior Analyst
Timothy Kelly Horan - MD & Senior Analyst
How much debt do you think you can pay down per year? And then just on ARPA. I guess the question is, is this sustainable over a multiyear period?
您認為每年可以償還多少債務?然後就在 ARPA 上。我想問題是,這種情況可以持續多年嗎?
Anthony T. Skiadas - Executive VP & CFO
Anthony T. Skiadas - Executive VP & CFO
Yes, we're not going to give multiyear targets here, but we like the shape of the growth right now. We said we're on track with our service revenue growth through the year, and the team is very focused on it. We said we were going to be phone net add positive in Consumer, and that's on track as well.
是的,我們不會在這裡給出多年目標,但我們喜歡現在的成長形式。我們表示,今年我們的服務收入成長正步入正軌,團隊也非常關注這一點。我們說過我們將在消費者領域為電話網路添加積極的內容,這也正在步入正軌。
Yes. And on the debt. So look, we're not going to give any targets on paying down debt. Our focus is on continuing to generate strong free cash flow to pay down debt in a meaningful way in the second half of the year, and we're on track to do that. We have $3.6 billion of unsecured maturities due this year. About half of that was addressed in the first quarter, and you should expect us to be opportunistic as the year goes on.
是的。還有債務。所以看,我們不會給出任何償還債務的目標。我們的重點是在下半年繼續產生強勁的自由現金流,以有意義的方式償還債務,我們有望做到這一點。今年我們有 36 億美元的無擔保到期債券到期。其中大約一半是在第一季解決的,隨著時間的推移,你應該期望我們會抓住機會。
Operator
Operator
The next question comes from Craig Moffett of MoffettNathanson.
下一個問題來自 MoffettNathanson 的 Craig Moffett。
Craig Eder Moffett - Co-Founder, Founding Partner Senior MD & Senior Research Analyst
Craig Eder Moffett - Co-Founder, Founding Partner Senior MD & Senior Research Analyst
Let's talk about something a little longer term, which is spectrum and capacity. Your CapEx has been now trending down as you've largely gotten through the 5G build. I'm just wondering how we should think about your spectrum needs going forward and what your appetite would be for additional spectrum, if some were to come available from DISH Network or as you think about U.S. Cellular. And how you think about that in the context of the spectrum screens at the FCC, which don't really leave much room for incumbent players to add. Do you think that those are a real impediment? Or do you think that those would likely be adjusted when the time comes?
讓我們談談更長遠的事情,即頻譜和容量。隨著您基本上完成了 5G 建設,您的資本支出現已呈下降趨勢。我只是想知道我們應該如何考慮您未來的頻譜需求以及您對額外頻譜的興趣是什麼(如果 DISH 網路提供某些頻譜或您考慮美國蜂窩網路)。以及您如何在 FCC 頻譜篩選的背景下思考這一點,這並沒有為現有參與者留下太多補充空間。您認為這些是真正的障礙嗎?或者您認為到時候這些可能會進行調整嗎?
Hans E. Vestberg - Chairman & CEO
Hans E. Vestberg - Chairman & CEO
Thank you, Craig. Great question. First of all, as we all know, right now, the FCC doesn't have any spectrum to option out, and they don't even have an approval to do it. So that sort of constrained it. Then it could, of course, be secondhand market spectrum. We feel good about -- we have only deployed a piece of our C-band so far. So we have quite a lot left. Many of the sites are 60 megahertz or maybe at best 80. We have 161 megahertz nationwide. So we have quite a lot left of spectrum. And remember, that was the decision I, together with the Board, took.
謝謝你,克雷格。很好的問題。首先,眾所周知,目前 FCC 沒有任何頻譜可供選擇,他們甚至沒有獲得這樣做的批准。所以這有點限制了它。當然,它可能是二手市場光譜。我們感覺很好——到目前為止,我們只部署了 C 頻段的一部分。所以我們還剩下很多。許多站點的頻率為 60 兆赫,最多為 80 兆赫。所以我們還有很多剩餘的頻譜。請記住,這是我和董事會共同做出的決定。
We bought spectrum for decades, not for the next 2 quarters or something like that. So we feel really good about it. Then any opportunistic spectrum coming out, it's hard to predict. And even on whatever regulation is going to be around screens and that, I don't know.
我們購買了數十年的頻譜,而不是為接下來的兩個季度或類似的事情購買。所以我們對此感覺非常好。那麼任何機會主義的出現就很難預測。即使關於螢幕的任何監管,我也不知道。
The only thing I know, I've sit here on a better position ever with millimeter wave, my C-band, my low band and how I build the network. And sometimes, it's opportunistic spectrum is going to cost me a lot, both from a customer interaction because some spectrum is not in the devices. I need new radios, new software. So you need to think when you reengineer the network to see that you have the right spectrum all the way out to the customer. And I think that no one is even close to our team or radio planning doing that. But all in all, we feel good about where we are today. Let's see what's going to happen in the market of spectrum.
我唯一知道的是,我在毫米波、我的 C 頻段、我的低頻段以及我如何建立網路方面處於一個更好的位置。有時,機會主義頻譜會讓我付出很大代價,無論是來自客戶互動還是因為某些頻譜不在設備中。我需要新的收音機、新的軟體。因此,在重新設計網路時,您需要思考,確保為客戶提供正確的頻譜。我認為沒有人接近我們的團隊或電台規劃這樣做。但總而言之,我們對今天的處境感覺良好。讓我們看看頻譜市場會發生什麼。
Craig Eder Moffett - Co-Founder, Founding Partner Senior MD & Senior Research Analyst
Craig Eder Moffett - Co-Founder, Founding Partner Senior MD & Senior Research Analyst
Hans, you saw it back over time between a preference between network densification or more spectrum. Is there a sort of house view at the moment for where you think it's most attractive to add capacity? Would it now be through network densification rather than spectrum or vice versa?
漢斯,隨著時間的推移,您看到了網路緻密化和更多頻譜之間的偏好。目前您認為增加容量最具吸引力的房屋景觀有哪些?現在是透過網路緻密化而不是頻譜,還是反之亦然?
Hans E. Vestberg - Chairman & CEO
Hans E. Vestberg - Chairman & CEO
A little bit early to say. And ultimately, it's actually a call or return on investment that we do daily here. Should we put up a new tower? Should we densify? Should we put up new elements? Or should we add more spectrum?
說的有點早。最終,這實際上是我們每天在這裡進行的電話或投資回報。我們應該建一座新塔嗎?我們應該緻密化嗎?我們應該添加新元素嗎?或者我們應該添加更多頻譜?
That's regional almost on ZIP code level that the team is going through this. So every time you see spectrum coming out in the secondhand market historically, you make a calculation. We feel good about the position we have again here with all the spectrum we have to make those choices internally rather betting on external assets coming in. We don't need that. We have everything in-house right now for quite a while.
這幾乎是團隊正在經歷的郵遞區號層級的區域性問題。因此,歷史上每次看到二手市場出現頻譜時,您都會進行計算。我們對我們再次擁有的地位感到滿意,我們必須在內部做出這些選擇,而不是押注於外部資產的進來。我們現在已經在內部擁有了相當長一段時間的一切。
Operator
Operator
The next question comes from Greg Williams of TD Cowen.
下一個問題來自 TD Cowen 的 Greg Williams。
Gregory Bradford Williams - Director
Gregory Bradford Williams - Director
You provided some great color on ACP. I think you said it could be a 50 basis point hit. I'm just curious if we can drill down there. Is that more of an ARPU hit with these new plans that are coming out? Or is it more on the disconnect side?
您為 ACP 提供了一些很棒的色彩。我想你說過可能下跌 50 個基點。我只是好奇我們是否可以深入那裡。這些即將推出的新計劃是否會對 ARPU 產生更大的影響?或者更多的是在斷開連接方面?
Second question is just on fiber-to-the-home and the open access models that we're seeing. We've seen some news flow with Tillman, Intrepid, et cetera, on open access and maybe even T-Mobile. I'm just trying to gauge your appetite to ride some of these open access CapEx-light models if they come to fruition?
第二個問題是關於光纖到府和我們所看到的開放存取模式。我們已經看到了有關 Tillman、Intrepid 等有關開放接入甚至 T-Mobile 的新聞。我只是想了解一下,如果這些開放式資本支出輕型模型能夠實現的話,您是否有興趣使用它們?
Hans E. Vestberg - Chairman & CEO
Hans E. Vestberg - Chairman & CEO
I can take the first question then the second question first. As we haven't done any open access deals yet, you can see that the appetite hasn't been that big. Anyhow, we're going to evaluate any type of opportunities that can fortify how we deliver to our customers. So far in this environment, with a very high capital cost, et cetera, it hasn't -- we haven't find a good return on investment on it. And again, we are very financially prudent. And remember, we have fixed wireless access. We have our Fios.
我可以先回答第一個問題,然後再回答第二個問題。由於我們尚未達成任何開放取用協議,您可以看到需求並沒有那麼大。無論如何,我們將評估任何類型的機會,以加強我們向客戶提供服務的方式。到目前為止,在這種環境下,由於資本成本非常高,等等,我們還沒有找到良好的投資回報。再說一遍,我們在財務上非常謹慎。請記住,我們有固定無線存取。我們有我們的 Fios。
We sort of -- we have almost economics on basically everything we're doing. That's why our return on investment is the highest in the industry, and our EBITDA is the highest. We will both continue to be disciplined in that. That doesn't mean I'm not going to look into other models. But right now, there has not been any models that is appealing to me and the team and for our shareholders.
我們基本上對我們所做的一切都進行了經濟學分析。這就是為什麼我們的投資報酬率是業界最高的,我們的 EBITDA 也是最高的。我們都將繼續遵守這方面的紀律。這並不意味著我不會研究其他模型。但目前,還沒有任何模型對我和團隊以及我們的股東有吸引力。
Anthony T. Skiadas - Executive VP & CFO
Anthony T. Skiadas - Executive VP & CFO
And then, Greg, on your question on ACP. So as we said, it was up to a potential 50 basis points of headwind in service revenue. And that's a combination of ARPU and churn, and it's lower ARPU. And we also said the margin exposure from ACP is also very, very small.
然後,格雷格,關於你關於 ACP 的問題。正如我們所說,服務收入可能面臨 50 個基點的不利影響。這是 ARPU 和流失率的結合,而且 ARPU 較低。我們也說過,ACP 的保證金風險也非常非常小。
Operator
Operator
The next question comes from Bryan Kraft of Deutsche Bank.
下一個問題來自德意志銀行的布萊恩‧克拉夫特。
Bryan D. Kraft - Director & Lead Research Analyst
Bryan D. Kraft - Director & Lead Research Analyst
I had two if I could. First, could you provide an update on your efforts to pursue BEAD funding? Are you seeing any progress at the state level in establishing the rules? And based on what you are seeing there, are you more encouraged or discouraged by what you're seeing?
如果可以的話我有兩個。首先,能否介紹一下您爭取 BEAD 資金的最新情況?您認為州一級在製定規則方面有什麼進展嗎?根據您在那裡所看到的情況,您所看到的情況是更令人鼓舞還是更沮喪?
And then separately, I was wondering if you could just provide any color on the company's performance in the first quarter within the larger metro markets relative to smaller, midsized markets in Consumer?
然後,我想知道您是否可以提供有關該公司第一季在較大都市市場相對於中小型消費者市場的業績的任何資訊?
Hans E. Vestberg - Chairman & CEO
Hans E. Vestberg - Chairman & CEO
Thank you. On BEAD funding, yes, it's -- I think that, that's been widely reported in the press. It is, of course, a complicated process to get the BEAD money out, et cetera. So we bid where we see it makes sense with return on investment and the subsidy is coming in there. There are some other broadband money coming into the market from the previous funds, which we're winning.
謝謝。關於 BEAD 資金,是的,我認為,媒體對此進行了廣泛報導。當然,取出BEAD資金等等是一個複雜的過程。因此,我們在認為對投資回報有意義的地方進行投標,並且補貼將隨之而來。還有一些其他寬頻資金從之前的基金進入市場,我們正在贏得這些資金。
We just had some quite large wins here recently in Pennsylvania. So we're using it, but we do it when it makes sense from a profitable point of view. But again, it's probably going to take some time when we see these money rolling out. Second question is for you. Yes. So on the -- I need to remember the...
我們最近在賓州取得了一些相當大的勝利。所以我們正在使用它,但我們會在從盈利的角度來看有意義的時候才這樣做。但同樣,我們可能需要一些時間才能看到這些資金的到位。第二個問題是給你的。是的。所以關於——我需要記住...
Anthony T. Skiadas - Executive VP & CFO
Anthony T. Skiadas - Executive VP & CFO
It was the question on the C-band market.
這是C波段市場的問題。
Hans E. Vestberg - Chairman & CEO
Hans E. Vestberg - Chairman & CEO
Okay.
好的。
Anthony T. Skiadas - Executive VP & CFO
Anthony T. Skiadas - Executive VP & CFO
So on the C-band markets in the early markets, the performance is much better. As we said earlier, the churn is much better, 4 basis points better in churn. The premium mix is also a lot better, and we see meaningful increase in gross add performance as well. So we're really, really pleased with the performance in C-band.
所以在早期市場的C波段市場上,表現好很多。正如我們之前所說,客戶流失率好得多,客戶流失率提高了 4 個基點。優質產品組合也好得多,我們也看到總附加價值效能顯著增加。所以我們對 C 頻段的表現非常非常滿意。
Operator
Operator
Your last question will come from Peter Supino of Wolfe Research.
你的最後一個問題將來自沃爾夫研究中心的彼得·蘇皮諾。
Peter Lawler Supino - MD & Senior Analyst
Peter Lawler Supino - MD & Senior Analyst
Wondered if you could talk about SG&A growth. It was up 11% in Business and 4% in Consumer. It was nicely offset by cost relief from lower upgrades. I'm just wondering if you're spending back some of that upside on SG&A and how we might think about modeling operating leverage and specifically SG&A going forward?
想知道您是否可以談談 SG&A 成長。商業領域成長了 11%,消費者領域成長了 4%。較低的升級所帶來的成本降低很好地抵消了這種影響。我只是想知道您是否將部分收益用於 SG&A,以及我們如何考慮對營運槓桿建模,特別是未來的 SG&A?
And then if anybody would be willing to provide an update on your project of deploying millimeter wave spectrum, in support of the FWA business to multi-dwelling units. Is that working the way you hoped? And if so, could that provide upside to your long-term broadband growth targets?
然後是否有人願意提供您部署毫米波頻譜項目的最新信息,以支援多住宅單元的 FWA 業務。是按照你希望的方式工作嗎?如果是這樣,這能為您的長期寬頻成長目標帶來好處嗎?
Hans E. Vestberg - Chairman & CEO
Hans E. Vestberg - Chairman & CEO
Thank you. On the SG&A, we're very focused on seeing that we continue to get full leverage on the growth that we have right now. So the team is really focused on taking out cost. And I said, we are on track for that. We have a lot of initiatives ongoing. Tony will give you some more puts and takes on the SG&A in the quarter.
謝謝。在SG&A方面,我們非常注重看到我們繼續充分利用目前的成長。因此,團隊真正專注於降低成本。我說,我們正在朝著這個目標邁進。我們正在進行許多舉措。托尼將為您提供有關本季度 SG&A 的更多看跌期權和承擔額。
On the millimeter wave. MDU solution, that is progressing. We have said it will come in the second half, latter part of this year in commercial. But we are piloting it right now, and it's performing really well. So we feel really good about it. And it will, over time, of course, add opportunity for us on MDUs that we haven't served with a fixed wireless access so far. So it will be an addition over time. Tony?
在毫米波上。 MDU 解決方案,正在取得進展。我們說過它將在今年下半年、下半年投入商用。但我們現在正在試用它,而且效果非常好。所以我們對此感覺非常好。當然,隨著時間的推移,它將為我們在 MDU 上增加機會,而迄今為止我們還沒有提供固定無線存取服務。因此,隨著時間的推移,這將是一個補充。托尼?
Anthony T. Skiadas - Executive VP & CFO
Anthony T. Skiadas - Executive VP & CFO
Yes. And Peter, on your question on SG&A. Some of that in the quarter is a function of the upfront work on transformation initiatives that will abate as the year progresses. And we also see pressure, year-over-year pressure on the handset insurance claims. And we expect that to level off in the second quarter, and we expect to see further operating leverage in the second half of the year.
是的。 Peter,關於你關於 SG&A 的問題。本季的部分工作是轉型措施的前期工作的結果,這些工作將隨著今年的進展而減弱。我們也看到手機保險索賠面臨壓力,逐年增加。我們預計這一情況將在第二季度趨於平穩,並且預計下半年營運槓桿將進一步提高。
Brady Connor - SVP of IR
Brady Connor - SVP of IR
Great. Thanks, Brad. That's all the time we have.
偉大的。謝謝,布拉德。這就是我們所有的時間。
Operator
Operator
Ladies and gentlemen, this concludes the conference call for today. Thank you for your participation and for using Verizon Conference Services. You may now disconnect.
女士們、先生們,今天的電話會議到此結束。感謝您的參與和使用 Verizon 會議服務。您現在可以斷開連線。