Verizon Communications [ticker symb=VZ ] late Wednesday said it would launch wireless residential broadband services in three to five U.S. markets in 2018, with Comcast ( CMCSA ) targeted initially.
[ibd-display-video id=2990845 width=50 float=left autostart=true] Verizon has slated an investor day with analysts from 5 p.m. to 7 p.m. ET on Thursday. Verizon is expected to update analysts on its plans for rolling out 5G wireless services, including broadband services to homes.
The company's first commercial 5G launch is planned to be in Sacramento, Calif., in the second half of 2018. Comcast sells broadband services in Sacramento.
The company could get a lift in the December quarter as well as 2018 if wireless competition eases up, analysts say. Verizon, AT&T ( T ), T-Mobile US ( TMUS ) and Sprint ( S ) have been less aggressive in promotions for Apple's iPhone 8 and iPhone X than in previous upgrade cycles.
Verizon has said in plans to slash $10 billion in costs by 2022, enabling the telecom company to largely fund its dividend through the savings.
After acquiring Yahoo's internet business in July, Verizon could make more acquisitions, analysts say. Verizon recently backed away from a target of getting its debt-to-EBITDA (earnings before interest, taxes, depreciation and amortization) ratio to a pre-2014 level - before it acquired Vodafone Group 's ( VOD ) 45% stake in a wireless joint venture for $130 billion.