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.
UScellular has announced the sale of select spectrum assets for $1.0 billion. The company has reached an agreement with Verizon Communications to sell 663 million MHz POPs of Cellular spectrum, 11 million MHz POPs of AWS, and 19 million MHz POPs of PCS licenses for $1.0 billion in cash. Additionally, UScellular has agreements with two other mobile network operators to sell 12 million MHz POPs across CBRS, C-Band, and 700 MHz B/C Block bands.
These transactions are part of UScellular's objective to monetize spectrum not included in the proposed sale to T-Mobile. The deals are subject to regulatory approvals and customary closing conditions. Following these transactions, UScellular will retain 3.4 billion MHz POPs of low and mid-band spectrum and 17.2 billion MHz POPs of mmWave spectrum. The company continues to seek opportunities to monetize these retained assets.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) will report its third-quarter 2024 earnings on Tuesday, October 22. The company will release detailed information, including management commentary, earnings news release, and financial tables, at 7:00 a.m. ET on its Investor Relations website. Additionally, Verizon will host a live sell side analyst meeting from 9:00 a.m. to approximately 10:30 a.m. ET on the same day.
During this event, Hans Vestberg, Chairman and CEO, along with senior leadership team members, will discuss Q3 2024 results, provide a strategic broadband update, and hold a Q&A session with analysts. Access instructions and presentation materials will be available on Verizon's Investor Relations website. In 2023, Verizon generated revenues of $134.0 billion, serving millions of customers worldwide and nearly all Fortune 500 companies.
Verizon Business is returning to the HLTH 2024 event in Las Vegas to showcase its latest 5G healthcare solutions. At booth #3028, the company will demonstrate how its technology is transforming patient care through enhanced connectivity, security, and partnerships. Verizon Business is focusing on building a connected healthcare ecosystem using its 5G network, Neutral Host Networks, private wireless, and multi-access edge computing (MEC).
The company is driving innovation in telehealth, remote patient monitoring, and connected medical devices. Verizon Business has partnered with major healthcare institutions like UC Davis, Cleveland Clinic, and John Hopkins University. On October 21, Gary Lynch, Global Practice Lead & CTO for Healthcare, Insurance, and Life Sciences at Verizon Business, will present on AI and 5G-powered health solutions for elder care.
Verizon is hosting its second Washington, D.C.-area 'Connected By Culture' event on October 17, 2024, at the Verizon store in Rockville, MD. The event, themed 'Innovadores del Futuro – Empowering Rising Latino Community Tech Leaders,' celebrates $73,300 in new Verizon donations to local Latino-serving organizations. It aims to connect community members with career and networking opportunities from 3 to 6 p.m.
The event will feature:
- Top leaders supporting the next generation of Latino community leaders in tech and entrepreneurship
- Free professional headshots
- Networking opportunities
- A workforce development panel discussion
- A performance by Baila4Life dance ensemble
Verizon's donations support six local organizations: Maryland Hispanic Chamber of Commerce, Latino Economic Development Center, ignITe Hub Montgomery College, Baila4Life, Latin American Youth Center, and Maryland Women's Business Center. The event aligns with Verizon's responsible-business plan and commitment to workforce development, including the Verizon Skill Forward program offering free online courses.
Verizon Business's fifth annual State of Small Business Survey reveals a significant surge in AI adoption among small to midsize businesses (SMBs), with usage doubling from 14% in 2023 to 39% in 2024. Despite economic concerns, SMBs are investing more in technology than in the past three years, particularly in internet upgrades and online operations.
Key findings include:
- 84% of SMBs use Facebook for promotion and customer engagement
- 66% have upgraded their internet bandwidth
- 83% worry about rising inflation's impact on their business
- 59% believe their business will be in a better economic position next year
- 52% of retailers are preparing for an in-store-first holiday season
Verizon Business is offering Small Business Days from October 14-20, providing special deals, free tech checks, and personalized consultations. The company aims to support one million small businesses by 2030 through its Small Business Digital Ready platform, offering free digital skills training.
The Verizon Foundation has announced a $2 million donation to support relief efforts for communities affected by Hurricane Helene and Hurricane Milton. The donation includes:
- $1 million to the American Red Cross for emergency relief and recovery efforts
- $400,000 to Volunteer Florida for Hurricane Milton relief
- $600,000 to organizations in Georgia and North Carolina for Hurricane Helene relief
The funds will support immediate needs such as food and shelter, as well as long-term recovery and rebuilding initiatives. Verizon's Chief Responsible Business Officer, Donna Epps, emphasized the company's commitment to supporting communities in times of need. Representatives from recipient organizations expressed gratitude for Verizon's contributions and highlighted the impact these donations will have on affected communities.
Verizon has announced a $50,000 donation to Los Angeles Mission in honor of World Mental Health Day. This marks the second consecutive year of support for the organization's seasonal weather disaster relief efforts. The funding will help expand services and provide critical supplies to the unhoused population of Los Angeles County during severe weather events.
The donation aims to address the physical and mental well-being of unhoused individuals facing extreme weather conditions. It will enable Los Angeles Mission to increase its capacity and secure vital supplies for protection during severe weather events. Verizon's support aligns with World Mental Health Day, recognizing the connection between stable housing, mental health, and overall well-being.
This initiative is part of Verizon's broader commitment to social responsibility and bridging the gap for underserved communities through corporate giving and volunteer efforts.
Verizon is offering relief to customers in Florida affected by Hurricane Milton. From Oct. 9th to Oct. 23rd, 2024, the company will waive domestic call, text, and data usage for postpaid consumer and Verizon Small Business customers in 32 specified Florida counties. This offer is automatic, requiring no action from customers, and any overages will be credited back.
Leigh Anne Lanier, Atlantic South Market President, emphasized Verizon's commitment to supporting customers before, during, and after the storm, recognizing the critical need for connectivity during uncertain times. The relief offer applies to all postpaid consumer and Verizon Small Business customers (with 50 lines or less) in the affected areas.
Verizon has announced a new round of $10,000 grant funding opportunities for small businesses through its Small Business Digital Ready platform. The program offers free access to online courses in English and Spanish, mentorship, coaching, and community events. To be eligible, businesses must register on the platform and complete at least two courses, coaching sessions, or community events between July 1 and December 13, 2024.
The initiative has already reached over 350,000 small businesses nationwide, with 51% being women-owned and 62% Black or Hispanic-owned. Verizon has also introduced a 'Small Business Funding Marketplace' in partnership with Next Street, allowing business owners to search for loan and grant opportunities based on their needs. Additionally, the platform now features 'Learning Paths' to guide users through resources that help achieve specific business goals.
Verizon is preparing for Hurricane Milton's approach to Florida, emphasizing its readiness to maintain connectivity for communities and first responders. The company has implemented a comprehensive response plan, including:
1. A hardened network designed to withstand extreme conditions
2. Preparation of backup systems like batteries and generators
3. Staging of portable network solutions and mobile generators
4. Deployment of the Verizon Frontline Crisis Response Team to support public safety agencies
Verizon also offers tips for businesses and residents to prepare for the hurricane, such as updating contact information, testing backup networks, and stocking up on power supplies. The company encourages customers to utilize satellite communication features on compatible devices and to stay informed through Verizon's Online Emergency Resource Center.
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