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.
SIMPLE Mobile, a no-contract wireless provider on Verizon's network, has launched a -time promotion offering triple the data on select plans for new customers. The $25 plan now includes 15GB, the $30 plan 30GB, and the $40 plan 45GB of data. Additionally, SIMPLE Mobile has enhanced its Lifeline benefits, providing eligible customers with a $10 monthly discount on any plan. This allows qualifying Lifeline customers to get 15GB of high-speed data for just $15/month.
The company has introduced a QR code system for easy Lifeline enrollment at its 5,000 nationwide retailers. SIMPLE Mobile has also refreshed its brand with new fonts, designs, and colors. The company topped the recent Wave7 Research quarterly multi-carrier prepaid dealer survey as the top seller.
Verizon Communications Inc. (NYSE, NASDAQ: VZ) has announced an amendment to its previously announced private exchange offers for 10 series of notes. The key change is an increase in the spread used to determine the interest rate for the new notes, from 100 basis points to 107 basis points over the yield of the 4.375% U.S. Treasury Security due May 15, 2034. All other terms and conditions, including the Early Participation Payment and Early Participation Date (August 2, 2024, at 5:00 p.m. New York City time), remain unchanged. The exchange offers are being made solely through the Offering Memorandum and related documents, subject to applicable securities laws and regulations.
Verizon Frontline's Crisis Response Team has deployed support for over 6,800 first responders battling 15 wildfires in Oregon and Washington. The team provided Satellite Picocell on a Trailer (SPOT) units and nearly 200 other solutions to enhance critical voice and data connectivity in remote areas. This effort is part of nearly 800 responses to support requests from public safety agencies across 44 states in 2024. The team is also assisting with the Durkee Fire, currently the largest wildfire in the contiguous U.S. at over 288,000 acres. Verizon Frontline offers 24/7 emergency assistance at no cost to supported agencies, providing portable cell sites, Wi-Fi hotspots, and charging stations to enable communications and boost network performance.
Verizon has donated $15,000 to Gateway Global, a St. Louis nonprofit focused on STEM-based apprenticeship education and workforce development. The donation coincides with the completion of a mentoring program where Verizon network team members shared their experiences with local students. Gateway Global prepares youth for high-quality jobs in geo-spatial careers, supporting the $2 billion National Geo-Spatial Intelligence Agency headquarters under construction in North St. Louis.
The partnership, established in 2022, culminated in a STEM event showcasing drone demos and Verizon's 5G Network technologies. Verizon's support aims to foster entry-level tech jobs and career advancement in critical infrastructure. The collaboration highlights the impact of mentorship in supporting the future workforce in St. Louis.
Verizon Business has been awarded a $77.7 million task order to modernize the National Weather Service's (NWS) network infrastructure. The project aims to transition NWS's voice and data services from the Networx contract to the Enterprise Infrastructure Solutions (EIS) vehicle. This upgrade will support NWS's critical mission of providing weather, water, and climate data, forecasts, and warnings.
The task order focuses on increasing cost-effectiveness, reducing total ownership costs, improving network performance, and incorporating new technologies. This award follows Verizon's recent three-year Cooperative Research and Development Agreement with NOAA to explore rapid deployment of uncrewed aircraft systems for storm damage assessment.
As a NOAA/NWS Weather Ready Nation Ambassador, Verizon supports efforts to enhance national readiness against extreme weather events. Verizon Communications Inc. (NYSE, Nasdaq: VZ) generated revenues of $134.0 billion in 2023.
Verizon has launched the Siyata SD7, a mission-critical push-to-talk device, as part of its stocked handset portfolio. This collaboration with Siyata Mobile Inc. (SYTA) aims to revolutionize communication for first responders and enterprise clients across the United States. The SD7 is a purpose-built 'cellular radio' offering excellent coverage, improved functionality, and low costs.
Key features of the Siyata SD7 include:
- Mission-Critical Push-to-Talk (MCPTT)
- Rugged design for field use
- Emergency button and GPS tracking
- Seamless integration with Verizon Frontline
- Low start-up and operating costs
Verizon Frontline's vice president, Cory Davis, expressed excitement about bringing this potential game-changer to customers, while Siyata's CEO, Marc Seelenfreund, is optimistic about the opportunities for the SD7 as a stocked item by Verizon.
Verizon (NYSE: VZ) is enhancing the NFL fan experience with exclusive offers for customers. Key highlights include:
- NFL Sunday Ticket from YouTube and YouTube TV, free for eligible customers (up to $449 value)
- $10/month discount on YouTube TV Base Plan for home internet customers
- Weekly ticket drops for every NFL game through Verizon Access
- Offers available for both mobile and home internet customers
These promotions aim to provide fans with comprehensive access to NFL games, whether through out-of-market streaming or in-person attendance. Verizon's myPlan and myHome platforms facilitate these offers, reinforcing the company's position as a key player in sports entertainment connectivity.
Verizon Communications (NYSE, NASDAQ: VZ) has initiated private exchange offers for 10 series of outstanding notes, totaling up to $2.5 billion in new notes maturing in 2035. The offers target qualified institutional buyers and non-U.S. persons. To receive the total exchange price, holders must tender their old notes by August 2, 2024. The exchange price includes an early participation payment and accrued coupon payments. Verizon will use a waterfall methodology to accept notes based on specified priority levels, capped at $2.5 billion but subject to potential increase. The new notes will bear interest at a rate tied to the 4.375% U.S. Treasury Security due May 2034, plus 100 basis points. The offers expire on August 19, 2024, with settlement dates following shortly after. The new notes will not be registered under the Securities Act and are only available to eligible holders.
Verizon (NYSE, Nasdaq: VZ) reported strong Q2 2024 results, showcasing growth in wireless service revenue and broadband subscribers. Key highlights include:
- Total wireless service revenue of $19.8 billion, up 3.5% year-over-year
- Retail postpaid phone net additions of 148,000
- Total broadband net additions of 391,000, including 378,000 fixed wireless
- Consolidated revenue of $32.8 billion, up 0.6% from Q2 2023
- Earnings per share of $1.09, with adjusted EPS of $1.15
Verizon remains on track to meet its full-year 2024 financial guidance, projecting wireless service revenue growth of 2.0-3.5% and adjusted EBITDA growth of 1.0-3.0%.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) has announced it will report its second-quarter 2024 earnings on Monday, July 22. The company will present results via a webcast starting at 8:30 a.m. Eastern Time. Access instructions and presentation materials will be available at 7:00 a.m. on Verizon's Investor Relations website.
The materials will include detailed commentary on Q2 results, an earnings news release, and financial tables. Verizon, headquartered in New York City, generated revenues of $134.0 billion in 2023. The company serves millions of customers worldwide, including nearly all Fortune 500 companies, providing mobility, reliable network connectivity, and security services.
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