I have a new gigabit internet that shows the wireless speed around 80 mbps. When checked using verizon speedtest, device speed shows 80 mbps but the router speed shows ~940 mbps.
This sounds like a wifi issue in the router. Any ideas?
If you are connected to the 2.4 GHz network then that sounds about right. Connect to the 5GHz one. It will show up as Fios-XXXXX-5G.
Wifi speed are not guaranteed. Only hard wired speeds. The 2.4 GHz band has lower speeds but better range. The 5 GHz band has higher speeds but less range.