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 announces a significant capital investment of $149 million in Florida to upgrade its network infrastructure due to a surge in demand following a population increase of over 250,000 wireless customers since January 2020. With data traffic soaring, especially in major cities like Miami (364% increase) and Orlando (408%), Verizon plans to enhance its 4G LTE and 5G services. This initiative builds on over $1 billion invested in the past two years, improving capacity and coverage across the state, particularly at key locations such as Disney World and major event venues.
On May 13, 2022, Verizon Business announced the winners of the 2022 BlueJeans by Verizon Customer Awards, recognizing organizations that successfully used BlueJeans solutions to enhance collaboration and communication. Notable winners include Merck KGaA for Most Successful Hybrid Work Transformation and Penn Med for Biggest Impact, showcasing significant ROI. The awards highlight leaders in technology adoption, illustrating the transformation of workplace priorities towards connectivity. Verizon, headquartered in New York City, generated $133.6 billion in revenue in 2021.
Verizon Communications Inc. (NYSE: VZ) held its first in-person shareholder meeting since 2019 on May 12, 2022. Shareholders re-elected all eleven directors for one-year terms and supported two management proposals: executive compensation and the appointment of Ernst & Young LLP as the independent auditor. However, four shareholder proposals were defeated, including reports on charitable contributions and executive compensation policies. Preliminary vote results will be finalized and posted on Verizon’s website, with 2021 revenues reported at $133.6 billion.
Verizon is offering special savings of up to $300 per year on its best 5G Unlimited plans for qualifying customers, including military, first responders, teachers, and nurses. Customers can save $25 monthly with personal accounts. Additionally, Fios 300 Mbps home internet is available for as low as $34.99/month with Auto Pay. Verizon's 5G Ultra Wideband network provides speeds up to 10 times faster than 4G LTE, serving 110 million people across 1,700 cities, aiming for coverage of 175 million by year-end 2022.
Verizon Business and Visionable have launched a center in Kent, U.K., focused on advancing connected healthcare technologies. This center showcases innovations like Verizon’s private 5G and AI-driven networking solutions, designed to enhance patient care. Key demonstrations include virtual wards, connected emergency services, and digitalized hospital care pathways. The collaboration aims to foster innovation, improve healthcare delivery, and benefit patients globally. Verizon's telehealth solutions, including BlueJeans Telehealth, aim to enhance accessibility and safety in healthcare services.
Verizon announces the launch of the new Google Pixel 6a, available for pre-order on July 21 and in stores starting July 28. Priced at $13.88 per month for 36 months ($499.99 retail), the Pixel 6a promises access to Verizon's 5G Ultra Wideband, enhancing streaming and gaming experiences. Key features include a 12MP dual camera, a 6.1” gOLED display, and advanced Google Tensor chip. Additionally, Pixel Buds Pro will launch alongside at $199.99, offering high-quality sound and noise cancellation. This move underlines Verizon's commitment to affordable 5G technology.
Verizon is providing crucial support for customers affected by wildfires in New Mexico from May 11 to 17, 2022, offering unlimited calling, texting, and data to impacted consumers and small businesses. A Wireless Emergency Communication Center has been established to provide free WiFi and charging services for displaced residents. Additionally, the Verizon Frontline Response Team is aiding first responders in Arizona and New Mexico with critical communication solutions, having deployed over 250 frontline devices to enhance emergency operations.
Verizon is actively supporting the Federal Communications Commission’s Affordable Connectivity Program (ACP) to provide low-cost internet access to vulnerable populations. Currently, over 11.5 million low-income homes benefit from this initiative. ACP-qualified customers can access Verizon Fios' fiber optic internet free of charge, featuring 200Mbps download/upload speeds without hidden costs. These efforts align with Verizon’s Citizen Verizon initiative, aiming to enhance social and economic advancement through a $3 billion pledge. This commitment reflects Verizon's dedication to bridging the digital divide.
Verizon has deployed its Frontline Response Team to assist first responders in New Mexico and Arizona amid ongoing wildfires, including the Calf Canyon and Hermits Peak fires. Over 200 Verizon Frontline solutions, including phones and routers, have been provided to enhance communication for firefighting efforts, covering more than 170,000 acres in New Mexico and nearly 30,000 acres in Arizona. This support, offered at no cost to local agencies, underscores Verizon's commitment to public safety and innovation in emergency communications.
Verizon showcased its advanced 5G Ultra Wideband network during the Formula 1 Crypto.com Miami Grand Prix, providing customers with enhanced mobile experiences. Attendees enjoyed peak download speeds of 2.8 Gbps and an average of over 1 Gbps. Over the event's first two days, users consumed 30 TB of data. Verizon's network team ensured reliable connectivity for fans and safety personnel. With a footprint in over 1700 cities, Verizon's commitment to delivering high-speed connectivity is evident as it continues to enhance event experiences.
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