Welcome to our dedicated page for Verizon Communications news (Ticker: VZ), a resource for investors and traders seeking the latest updates and insights on Verizon Communications stock.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) is a leading multinational telecommunications conglomerate, headquartered at 1095 Avenue of the Americas, Midtown Manhattan, New York City, and incorporated in Delaware. As a corporate component of the Dow Jones Industrial Average, Verizon stands out in the telecommunications industry by providing a wide range of services and solutions that include wireless communications, fixed-line telecom, and enterprise services.
Wireless Services: Verizon's wireless operations account for approximately 70% of its total service revenue, highlighting the significance of this segment. With about 93 million postpaid and 21 million prepaid phone customers, Verizon holds the title of the largest US wireless carrier. This expansive customer base is supported by the company's robust nationwide network, known for its reliability and wide coverage.
Fixed-Line Telecom: Verizon's fixed-line operations serve local networks in the Northeast, reaching around 29 million homes and businesses. The company caters to approximately 8 million broadband customers, providing high-speed internet services. Additionally, Verizon offers telecom services to enterprise customers across the nation, leveraging both its own and other carriers' networks.
Recent Achievements and Projects: Verizon is actively involved in several initiatives and partnerships that enhance its service offerings and community presence. Recently, Verizon announced the continuation of its partnership as the Official 5G partner of Houston Dynamo FC and the Houston Dash, which will last through the 2024 season. This partnership aims to bring fans closer to the teams they support with enhanced fan experiences.
In another exciting development, Verizon is connecting fans to music at the inaugural Festival La Onda by BottleRock® in Napa Valley, CA. Fans will benefit from perks such as VIP experiences, premium viewing decks, and exclusive merchandise.
Financial Performance: For the fiscal year 2023, Verizon generated revenues of $134.0 billion, reflecting its strong market presence and operational efficiency. The company's commitment to innovation and customer satisfaction continues to drive its financial success.
Social Initiatives: Verizon is dedicated to community engagement and social responsibility. The company is sponsoring events such as The Power Shift series with Johns Hopkins University and Medicine, aimed at discussing the intersection of AI and healthcare. Verizon's Citizen Verizon initiative focuses on preparing individuals for future jobs through tech skills training.
New Products: Verizon Business is introducing the Google Pixel 8a smartphone, equipped with advanced collaboration tools, robust security features, and AI technology. This addition enhances business mobility for Verizon's enterprise customers.
Verizon Communications Inc. remains at the forefront of the telecommunications industry, continually evolving to meet the demands of modern connectivity and innovation.
Verizon Frontline continues its 22-year partnership with NORAD for the annual Santa tracking initiative. The company provides enhanced network solutions, including C-Band spectrum for 5G connectivity and redundant Wi-Fi, to support NORAD's toll-free hotline during Christmas Eve. The operation utilizes advanced equipment like Cradlepoint routers, Wi-Fi jetpacks, and LEO solutions, alongside an Interactive Voice Response system managing over 130,000 calls. Nearly 900 in-person and 200 virtual volunteers, including Verizon employees and military personnel, participate in the initiative. The public can track Santa starting December 24 at 6 a.m. EST via the hotline (1-877-446-6723), website (noradsanta.org), or mobile app.
The Verizon Frontline Crisis Response Team demonstrated significant emergency response support throughout 2024, deploying nearly 900 times and assisting over 800 public safety agencies across the United States. The team responded to more than 1,500 support requests, providing over 10,000 Verizon Frontline devices and solutions.
Key response efforts included:
- Wildfire Response: Delivered nearly 2,000 solutions across multiple states
- Hurricane Response: Supported during Hurricanes Helene, Milton, and Beryl
- Tornado Response: Assisted in 10 states with over 300 solutions deployed
The team also supported agencies during ransomware attacks, training exercises, major public events, and both national political conventions. Additionally, Verizon Frontline established a partnership with NOAA to develop new strategies for deploying uncrewed aircraft systems for storm damage assessment.
Verizon has announced a new collaboration with NVIDIA to enable AI applications on Verizon's 5G private networks with Mobile Edge Compute (MEC). The solution combines Verizon's secure 5G private network and MEC with NVIDIA AI Enterprise software platform and NVIDIA NIM microservices.
The platform is designed to be plug & play, supporting multi-tenancy and various AI applications including Generative AI, Computer Vision, AR/VR/XR, and IoT. Key benefits include ultra-low latency, high bandwidth, enhanced security, and scalability. Demonstrations will begin in early 2025.
According to cited studies, 75% of business executives consider AI a business advantage, and 50% of companies have adopted AI in at least one business function. The solution is expected to be available for demonstrations in February.
Verizon has launched Enhanced Video Calling, powered by network slicing technology, initially available on iPhone. This feature intelligently manages data from video communication apps like Facetime, WhatsApp, and Zoom to provide improved user experience. Network slicing uses virtualized infrastructure to dynamically match network performance to specific application requirements.
The service is available in select 5G Ultra Wideband coverage areas at no additional cost with the Unlimited Ultimate plan or Business Unlimited Pro 5G Plan, requiring iPhone14 or newer and iOS 18.2. The technology aims to deliver clear video calls during congestion and consistent real-time collaboration with low latency, particularly benefiting business communications and critical scenarios.
Verizon has released a new study revealing changing connectivity demands at concerts and music festivals. The research shows that 85% of concertgoers expect cell service for calls and texts, while 81% want to share photos or videos. Poor cell service is a major stress factor for 75% of attendees, surpassing the fear of missing favorite songs (63%).
The study highlights a significant shift in concert behavior, with attendees becoming content creators who prioritize uploading and sharing content in real-time. Verizon's Ultra Wideband network is available in most major venues, supporting this increased demand. The company reports that upload traffic now exceeds download traffic at live music events, particularly during major concerts like Taylor Swift's The Eras Tour.
Verizon Communications (NYSE, NASDAQ: VZ) announced the expiration and final results of its six separate tender offers to purchase debt securities. The offers expired on December 9, 2024. The total principal amount of Securities accepted for purchase by Verizon on both the Original Early Participation Date and Extended Early Participation Date is $3,313,991,000.
The company will settle all securities validly tendered after the Original Early Participation Date and at or prior to the Expiration Date on December 11, 2024. The Total Consideration includes an early participation payment of $50 per $1,000 principal amount of Securities, plus applicable accrued but unpaid interest.
Verizon Communications (NYSE, Nasdaq: VZ) has appointed Daniel H. Schulman as lead director, effective immediately. Schulman, who has served on Verizon's Board since 2018 and is the former President and CEO of PayPal Holdings, succeeds Clarence Otis, Jr., who held the position since 2019 and will remain an independent director.
Schulman brings extensive experience in driving revenue growth, expanding market share, and creating shareholder value through innovation and customer-centric solutions. During his tenure as PayPal CEO, he led the company's transformation in digital payments. The Verizon Board currently comprises 11 directors, with 10 being independent members.
Verizon (NYSE, Nasdaq: VZ) has declared a quarterly dividend of 67.75 cents per share, maintaining the same rate as the previous quarter. The dividend will be paid on February 3, 2025, to shareholders of record as of January 10, 2025. With approximately 4.2 billion shares outstanding, Verizon has distributed $8.4 billion in cash dividends over the last three quarters.
CEO Hans Vestberg highlighted the company's track record of 18 consecutive years of dividend increases, attributing this consistency to Verizon's position as the largest consumer wireless base in the U.S., leading share in business, and strong cash flow. The company reported revenues of $134.0 billion in 2023.
Verizon Business is strengthening EBARA 's global cybersecurity through the deployment of Managed Security Incident and Event Management (MSIEM) capabilities. EBARA, a leading industrial manufacturer founded in 1912 with over 19,800 employees across 100+ locations, will receive continuous security threat monitoring and daily threat intelligence feeds from Verizon's Threat Research Advisory Center (VTRAC).
The implementation marks a significant step in EBARA's transition to a cloud-centric architecture with zero-trust security framework. Verizon's global security infrastructure processes over 20 trillion security events yearly through nine Security Operations Centers and six forensics labs. According to Verizon's 2024 Data Breach Investigations Report, 15% of breaches involve third parties, highlighting the importance of advanced threat-hunting tools.
Verizon (NYSE, Nasdaq: VZ) Chairman and CEO Hans Vestberg will be speaking at the UBS Global Media & Communications Conference on Monday, December 9, at 9:00 a.m. ET. The presentation will be available via webcast, with access details provided on Verizon's Investor Relations website.
Verizon, headquartered in New York City, is a global telecommunications company serving millions of customers and nearly all Fortune 500 companies. The company generated revenues of $134.0 billion in 2023, focusing on providing mobility, reliable network connectivity, and security services. Verizon maintains a commitment to innovation and customer service through its world-class team.
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