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 the preorder availability of the Samsung Galaxy S22 series starting February 9, 2022. New customers can receive up to $1,000 off with trade-ins on select 5G Unlimited plans, while existing customers can upgrade for a similar discount. Additionally, customers ordering before February 25 can enjoy double storage on select models. The series, compatible with Verizon's 5G Ultra Wideband network, features enhanced cameras, displays, and productivity integration with Windows PC. Samsung's Galaxy Tab S8+ 5G also launches, priced at $30.55/month over 36 months.
Verizon partners with Pepsi to enhance the Super Bowl LVI Halftime Show with the launch of the Pepsi Super Bowl Halftime Show ULTRA PASS powered by Verizon 5G Ultra Wideband, providing fans a virtual 360-degree experience on February 13, 2022. This innovative mobile app allows users to access exclusive views of the performance, incorporating 8K capable 360-degree cameras. The app also offers behind-the-scenes content and memorabilia giveaways. This initiative aims to boost fan engagement during the show.
Verizon Business Australia announced over 1.3 million International COVID-19 Vaccination Certificates downloaded in the first month as Australia reopens for international travel. The certificate features a QR code that ensures secure validation by immigration authorities and airlines. The digital signing process prevents unauthorized access, utilizing hardware security modules. The initiative aims to enhance online platform integrity and communication security, addressing over 61% of data breaches involving stolen credentials. Verizon has supported the Australian government for over 20 years.
Verizon has deployed its 5G Ultra Wideband technology at Penn State, enhancing research capabilities in manufacturing and educational applications. This initiative, located in Innovation Park, aims to foster collaborations that leverage advanced wireless technologies for improved automation and 3D printing education. Tim Simpson, a key professor, highlighted the significance of 5G in advancing Industry 4.0. Nicki Palmer from Verizon noted that the deployment enables innovations such as vehicle-to-vehicle communication and enhanced productivity through connected devices, marking a significant step for technological advancement.
Verizon expands 5G capabilities by bringing its 5G Ultra Wideband and mobile edge computing solutions to the Caltech Center for Autonomous Systems and Technologies (CAST). This partnership focuses on utilizing 5G technology, AI, and edge computing to help drones monitor and respond to changing weather conditions in real time. The facility features an innovative aerodrome that simulates various environmental scenarios. This research project is supported by Verizon’s funding and several 5G devices, aiming to enhance the development of autonomous drones and explore various industry applications of 5G.
The Verizon/Unloc Young Entrepreneurs Challenge has announced its five finalists competing for a £10,000/€11,000 Grand Prize on March 1, 2022. Finalists include innovative projects like Cotter Agritech's agricultural solution, Ango's sustainable shopping app, Movetru's wearable health device, SoundLence's noise-canceling headset, and Compound's eco-friendly footwear initiative. The competition aims to inspire young entrepreneurs in technology and sustainability, offering funding, mentorship, and entry to the One Young World 2022 Tokyo Summit for the winner.
DivInc has launched its inaugural 5G Sports Tech Accelerator in Houston, supported by Verizon. This program aims to assist startups focusing on technology in sports, including fan experience and esports. The accelerator will accept 10 companies, providing each with $10,000 in non-dilutive funding over a 12-week period from April to June 2022. This initiative seeks to bolster Houston's reputation as a sports innovation hub while promoting inclusivity among underrepresented founders in the technology sector.
Verizon Business has announced that BlueJeans by Verizon has been selected as the video conferencing provider for Canada’s National Research and Education Network (NREN). This partnership allows educational institutions across Canada to utilize BlueJeans' secure video collaboration services, enhancing remote learning. The platform offers features like HD audio and video, breakout rooms, and transcription. NREN connects over 750 educational and research institutions across the country, emphasizing BlueJeans' commitment to improving educational accessibility.
Verizon and Atos have announced a groundbreaking partnership to deliver smart IoT solutions via private 5G multi-access edge computing. This collaboration aims to enhance operational efficiency, risk mitigation, and revenue generation for businesses, governments, and communities globally. The solution combines Atos' Computer Vision platform with Verizon's 5G network, enabling predictive analytics capable of processing 180 billion data points hourly to forecast operational downtimes up to 30 days in advance. This end-to-end architecture offers scalable, low-latency solutions across various industries, positioning both companies as leading 5G providers.
Verizon Communications reported strong 2021 results, achieving a full-year earnings per share (EPS) of $5.32, up from $4.30 in 2020, and operating revenues of $133.6 billion, a 4.1% increase year-over-year. In the fourth quarter, EPS remained stable at $1.11, with adjusted EPS rising to $1.31, an 8.3% growth. Total wireless service revenue reached $17.8 billion, a 6.5% increase driven by higher average revenue per account (ARPA) and the acquisition of TracFone. Looking ahead, Verizon expects organic revenue growth of around 3% for 2022.
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