Verizon reported disappointing third-quarter results tanked by its consumer offerings. But its enterprise-focused operations remain a bright spot, bolstered by growing demand for mobile edge and private 5G network services.

The carrier’s consumer wireless service bled customers during the quarter, though recent price hikes that were cited as a cause for those defections did help Verizon boost its overall revenues. That balance remains a tricky one for Verizon as its rivals AT&T and T-Mobile US have been able to grow both metrics.

“Our results from the third quarter were not yet where we would like them to be,” Verizon CFO Matt Ellis bluntly stated during the carrier’s latest earnings call.

Ellis did cite positive market trends posited by CEO Hans Vestberg in regards to “store traffic and consumer phone gross adds, further gains in broadband, and a sequential improvement in our financial results” lead to anticipation “that we will be able to build on this momentum as we head into the fourth quarter.”

Investors were not impressed as Verizon’s stock hit a new 52-week low on the news. This despite the broader markets posting one of their best days in months.

One tangible bright spot for Verizon was the continued success of its enterprise operations. That business managed to post increased customer and financial growth, mostly on the back of Verizon’s 5G-focused wireless and mobile edge computing services.

“We see clearly a very strong demand on the private 5G networks, which is the prelude to go into all others, and the funnel is strong,” Vestberg said, though he added the carrier did not expect to see any significant revenue from those operations in the near term.

“But over time we’re building a totally new opportunity for [Verizon Business CEO Sowmyanarayan Sampath] and his team to be with customers in larger turnkey projects to reform and transform their digital asset for enterprises,” Vestberg added. “So we are still really confident this is a good strategy for us.”

Sampath was recently installed as head of Verizon Business where he replaced long-time leader Tami Erwin, who moved to a strategic advisor role to Verizon CEO Hans Vestberg, with plans for Erwin to leave the company at the end of the year.

“Unlike the consumer segment, businesses tend to have fewer choices of providers making switching more difficult,” Maurice Klaehne, senior analyst at Counterpoint Technology Market Research, noted in a report. “This has benefitted Verizon on the business side. The increase in administrative fees had a greater (negative) effect on the consumer side.”

Verizon also said it was on track to cover 200 million potential customers with its C-Band spectrum by early next year. This spectrum boost is important as it provides additional network capacity in high-density locations.

That boost also keeps Verizon ahead of AT&T, which said it plans to have 130 million potential customers covered by its C-Band spectrum by the end of this year.