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 amended terms for its ongoing offers to purchase debt securities totaling up to $4.0 billion. The changes include extensions to key dates: the Early Participation Date now set for March 4, 2022, Price Determination Date on March 7, 2022, and Expiration Date on March 21, 2022. Additionally, the Fixed Spread for several notes has been adjusted, impacting their market pricing. The offers are facilitated by lead dealer managers including Barclays and Goldman Sachs, with more details available through investor communications.
Verizon has announced its first agreement with a global automaker, Audi, to enhance the vehicles with 5G connectivity starting from the 2024 model year. The collaboration aims to embed 5G Ultra Wideband technology into Audi vehicles, allowing for advanced features like high-speed infotainment and over-the-air software updates. This partnership is expected to improve driver-assistance technologies and introduce cellular vehicle-to-everything (C-V2X) capabilities for safer driving. Verizon continues to expand its 5G network across the U.S., significantly increasing its coverage area.
Verizon, Bloomberg Media, Zixi, and AWS are collaborating to test live streaming of 4K Ultra High Definition content using 5G and edge computing, eliminating the need for satellites. This trial utilizes Verizon 5G Edge with AWS Wavelength and Zixi's SDVP to enhance content delivery speeds and quality. The initiative aims to simplify distribution workflows for broadcasters and meet consumer demand for quick-start, high-quality streaming. Future trials will also explore direct streaming to consumers' devices and real-time translation for global audiences.
Verizon enhances Call Filter app and Fios Digital Voice services to combat robocalls. The updated Call Filter app now allows wireless customers to block spam calls and manage Caller ID features at no cost, flagging 20 billion unwanted calls for 80 million users. Additionally, Fios customers will see a verified call indicator, enhancing Caller ID accuracy. Verizon is a leader in identifying robocall sources and collaborates with law enforcement to tackle the issue. The Call Filter Plus service is available for $2.99 per month, providing extra features for spam management.
Verizon Communications (NYSE: VZ) has launched 30 separate offers to repurchase outstanding debt securities totaling up to $4.0 billion, with the offers expiring on March 17, 2022. To qualify for the Total Consideration, holders must tender their Notes by March 2, 2022. The repurchase will be executed using a waterfall methodology based on Acceptance Priority Levels, with a cap of $4.0 billion and a specific $1.0 billion cap for the 2.987% Notes due 2056. The Offers are unrestricted by minimum tender amounts and will include accrued interest payments.
Verizon has awarded $500,000 to three winners of its inaugural Climate Resilience Prize at the GreenBiz22 Conference.
Winners include Hyfi for tech solutions, Forestry and Fire Recruitment Program for community-led efforts, and Coral Vita for nature-based solutions.
This initiative supports communities affected by climate change and is part of Citizen Verizon, aimed at achieving sustainability goals.
On February 14, 2022, Verizon showcased its 5G Home and Business Internet services during the Big Game, emphasizing their rapid expansion. The company reports that it now reaches over 30 million households and 2 million businesses, with a recent increase of 10 million households since last month. CEO Manon Brouillette highlighted plans for further expansion into cities like Boise and El Paso. Verizon's offers include a simple setup process and promotional discounts, reinforcing its commitment to becoming a leading home Internet provider in the U.S.
Verizon announces the launch of the Pepsi Super Bowl LVI Halftime Show Ultra Pass Powered by Verizon 5G Ultra Wideband, a mobile experience designed to enhance engagement during the Halftime Show. Notable highlights include Jim Carrey's return as 'The Cable Guy' in an advertisement promoting 5G Home and 5G Business Internet. Verizon has invested $119 million to upgrade infrastructure in Los Angeles. This event will utilize 360-degree cameras streaming in 4K, allowing fans unique access. Verizon is also committed $1 million to educational initiatives in the local community.
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