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 has identified and blocked over 24 billion unwanted calls for its 82 million customers to date, significantly reducing the influx of spam calls and texts. The company collaborates with the Industry Traceback Group to tackle illegal robocalls, being a pioneer in automating responses and submitting foreign language scam call examples. In Q1 2022, more customers reported feeling less overwhelmed by unknown calls compared to the previous year. Verizon offers its Call Filter app at no cost to help customers manage unwanted communications.
Verizon is enhancing the fan experience at the 106th Indianapolis 500 with its 5G Ultra Wideband technology. Over 300,000 attendees can enjoy up to seven live camera angles via 5G Multi-View, allowing personalized viewing. For those at home, the 5G Ultra Pass offers an augmented reality experience, bringing them to the track. With extensive coverage in Indianapolis, 52% of Verizon's network traffic is on 5G Ultra Wideband. This innovation reinforces Verizon's commitment to providing high-quality digital experiences in sports.
The 2022 Verizon Business Data Breach Investigations Report (DBIR) reveals a significant rise in ransomware attacks, increasing by 13% from the previous year, marking the largest jump in five years. The report analyzed 23,896 security incidents, with 5,212 confirmed breaches. Organized crime plays a pivotal role, causing roughly 80% of breaches, and external actors are four times more likely to initiate breaches than internal ones. The human element is a major vulnerability, contributing to 82% of breaches. Supply chain security remains a critical concern, with 62% of system intrusion incidents stemming from partners.
Verizon's CFO, Matt Ellis, will present at the J.P. Morgan Global Technology, Media and Communications Conference on May 24, 2022, at 9:30 a.m. ET. The event will be webcasted, with details available on Verizon's Investor Relations website. Verizon, a leading provider in technology and communications, achieved revenues of $133.6 billion in 2021, offering data, video, and voice services globally. Founded on June 30, 2000, it prioritizes mobility, reliable connectivity, and security for its customers.
Verizon is offering up to $800 in value for new or existing customers to upgrade to a 5G smartphone. Customers can obtain a new device, such as the iPhone 13, by trading in an eligible phone. This promotion emphasizes Verizon's commitment to 5G mobility while maintaining competitive pricing, with plans starting at $35 per line per month for multiple lines. The company generated $133.6 billion in revenue in 2021.
Verizon announces the launch of the moto g stylus 5G, enhancing its 5G phone portfolio. Available now for $11.11 a month on a 36-month plan, the device features a 6.8" display and a 120 Hz refresh rate, promoting high-quality gaming and streaming.
The smartphone boasts a 50 MP camera system with optical image stabilization and a built-in stylus for creativity on the go. Verizon's 5G Ultra Wideband currently covers over 1,700 cities, which supports the device's performance. With 2021 revenues of $133.6 billion, Verizon continues to lead in technology and communications services.
PCI Pal® (LON: PCIP), a leader in secure payment solutions, has released a new white paper titled Keep Calm and Simplify, highlighting challenges contact centers face with updated payment security standards, particularly PCI DSS 4.0. The document, co-authored with Verizon Business Group, addresses increased call traffic and digital fraud during the pandemic. The authors emphasize the necessity of robust security measures to adapt to evolving threats while preserving customer experience.
Verizon responds to Texas population surge
On May 18, 2022, Verizon announced a $97.9 million increase in capital spending to accommodate an influx of over 200,000 new wireless customers in Texas since January 2020. The company reported significant data traffic growth, with Dallas up 81.3% and Austin soaring 323.2%. This investment aims to enhance 4G LTE and 5G services amid ongoing network expansion, following over $2 billion invested in Texas during 2020-2021.
Verizon executive vice president Tami Erwin will speak at the MoffettNathanson Media & Communications Summit on May 19, 2022, at 9:00 a.m. ET. The speech will be available via webcast on Verizon’s Investor Relations website. Verizon, one of the world’s top technology and communications service providers, reported $133.6 billion in revenue for 2021. The company, founded on June 30, 2000, focuses on delivering data, video, and voice services through its extensive networks, meeting global demands for connectivity and security.
On May 14, 2022, the Verizon Frontline Response Team deployed to support first responders combating the Blue Lakes Fire in northern Michigan, which has affected over 2,000 acres. They provided critical communications using Satellite Picocells on Trailers (SPOTs) at two command posts, enhancing situational awareness for firefighting efforts. This service is offered at no cost to local agencies, underscoring Verizon's commitment to public safety and innovation. Verizon generated revenues of $133.6 billion in 2021 and is a leading provider of technology and communications services.
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