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 expanded its relief offerings in response to the ongoing situation in Eastern Europe. From now until March 10, the company is waiving international calling, texting, and in-country data charges for both consumer and business wireless customers to and from Ukraine, Hungary, Moldova, Poland, Romania, and Slovakia. This includes residential landline customers. Additionally, customers can donate to relief efforts in Ukraine through various organizations by texting specific keywords to designated numbers.
On March 2, 2022, Verizon deployed its Response Team in Los Angeles for Super Bowl LVI, supporting public safety agencies with Verizon Frontline solutions. Prior to the event, Verizon set up critical communications assets, including COLTs and satellite trailers, working closely with the Inglewood Police Department. The installation ensured high-bandwidth, 5G connectivity for emergency responders, measured at over a gigabit. Verizon's Frontline network, developed over decades, enhances communication for first responders during major events, underlining the company's role in public safety.
Verizon is hosting a free virtual event on March 8, 2022, for International Women’s Day, featuring Jaclyn Johnson, founder of Create & Cultivate, alongside executives from major companies like Chipotle and Kimberly-Clark. The event aims to support women navigating their careers, acknowledging that 1.1 million women have left the workforce since February 2020. Verizon emphasizes ongoing efforts to remove structural barriers faced by women in the workplace. The online platform Women’s CoLab offers resources and community support for women in various stages of their professional journey.
Verizon Communications (VZ) is set to hold its Investor Day 2022 on March 3, at 9:00 a.m. ET. During this event, CEO Hans Vestberg and senior leadership will discuss the company's strategic updates and its advancements in 5G initiatives and network performance. Verizon, a global leader in technology and communications, reported revenues of $133.6 billion in 2021. Investors can access the meeting and related materials on Verizon’s Investor Relations website.
Verizon Communications has successfully settled its fourth green bond offering, raising $1 billion, with proceeds directed towards renewable energy investments to enhance the U.S. electrical grid's sustainability. This follows the complete allocation of its third green bond within five months. Since 2019, Verizon has issued four green bonds totaling $4 billion. The company is committed to diversity in capital markets by partnering with minority- and women-owned firms for underwriting. In 2021, Verizon paid over $20 million in fees to such firms, reinforcing its ESG strategy alongside significant revenue generation of $133.6 billion in 2021.
Verizon Business and BlackRock announced the deployment of a private 5G network at BlackRock’s new headquarters in New York's Hudson Yards, marking a significant first for commercial 5G implementation in the U.S.
The network enhances secure connectivity for critical areas such as trading floors and conference centers, facilitating advanced applications like AR/VR and real-time edge computing.
Verizon’s On Site 5G offers a scalable platform, combining 5G Ultra Wideband with LTE, positioning BlackRock at the forefront of data-centric innovation.
The Board of Directors at Verizon Communications has declared a quarterly dividend of 64 cents per share, consistent with previous quarters. This dividend is payable on May 2, 2022, to shareholders on record by April 8, 2022. Verizon reported $10.4 billion in cash dividend payments in 2021 and has approximately 4.198 billion shares outstanding. Chairman Hans Vestberg credited the company's operational performance for enabling this return to shareholders, as Verizon generated $133.6 billion in revenues last year.
Maggie Hallbach has been appointed as the senior vice president for Verizon Public Sector, a role in which she will oversee services for federal, state, local, education, and public safety customers. With over 25 years at Verizon, Hallbach's previous role included leading business development. She is expected to leverage her extensive experience and relationships to drive innovation and support customer missions. Under her leadership, Verizon aims to enhance its network reliability and digital transformation initiatives, especially with the upcoming 5G Ultra Wideband launch.
Verizon Business has announced the integration of VMware into its global managed SD-WAN service portfolio. This addition aims to enhance network services for cloud-ready enterprises, enabling centralized orchestration and improved user experiences across diverse devices. Designed for modern applications, the solution offers bandwidth efficiency, cost control, and swift deployment, addressing the complexities of wide area networks. This partnership signifies a strategic move in Verizon’s Network as a Service initiative, further solidifying its offerings in the cloud-based service sector.
Verizon has announced that from February 25 to March 10, 2022, it will waive all charges for calls made by its postpaid consumer and business wireless customers, as well as residential landline customers, to and from Ukraine. This includes free calls within Ukraine and waiving voice and text roaming charges for customers currently in Ukraine. The initiative is aimed at helping customers stay connected with their loved ones during the ongoing crisis.
FAQ
What is the current stock price of Verizon Communications (VZ)?
What is the market cap of Verizon Communications (VZ)?
What services does Verizon Communications Inc. offer?
How significant is Verizon's wireless segment?
Where is Verizon headquartered?
What recent partnerships has Verizon announced?
How does Verizon engage with the community?
What is Verizon's latest smartphone offering?
How did Verizon perform financially in 2023?
What is the focus of Verizon's Citizen Verizon initiative?
What is Verizon's involvement in Festival La Onda?
Which contract has Verizon been selected for by the Department of the Navy?
