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 Communications Inc. (NYSE: VZ) is set to report its fourth-quarter 2021 earnings on January 25, 2022, at 8:30 a.m. Eastern Time. Prior to the webcast, access instructions, earnings news release, and financial tables will be available on Verizon's Investor Relations website from 7:00 a.m. The company generated revenues of $128.3 billion in 2020 and is recognized globally for providing advanced technology and communication services.
Verizon has announced seven new Renewable Energy Purchase Agreements (REPAs), increasing its total to 20 since 2019. The new agreements add approximately 910 megawatts (MW) of renewable energy capacity, contributing to a cumulative total of around 2.6 gigawatts (GW). These initiatives aim to support Verizon's goal of sourcing or generating renewable energy equivalent to 50% of its total electricity consumption by 2025. The projects are expected to avoid over 4.8 million metric tons of CO2 annually, furthering Verizon's commitment to sustainability.
Verizon has expanded its 5G Ultra Wideband network, now available to over 100 million people in more than 1,700 cities. This growth allows access for over 20 million households and 2 million businesses. The company is introducing new unlimited plans, including 5G Get More and 5G Play More, at the same price as current offerings. Key features of 5G Home Internet include self-setup and no extra fees. Verizon aims to enhance connectivity for both consumers and businesses, showcasing the impact of 5G through initiatives like the 5G Ultra Show.
Verizon Business has launched new Business Unlimited Data Device plans, enhancing connectivity with its 5G Ultra Wideband network now accessible to 100 million people in over 1,700 cities. The plans include options for $45/month offering 60 GB and $75/month offering 100 GB, both facilitating remote work and high-definition video streaming. CEO Tami Erwin emphasized the transformative potential of 5G for businesses, especially in overcoming pandemic challenges. The offerings cater to current and new customers with 5G-enabled devices, providing significant value through increased data and enhanced performance.
Verizon announced the launch of its 5G Ultra Wideband network, set to enhance connectivity for over 90 million Americans. As the leading wireless provider, Verizon is taking a proactive measure by temporarily limiting 5G deployment near certain airports to address concerns from the FAA and airlines. Despite being fully operational in over 40 other countries, Verizon insists on this limitation until navigational issues are fully resolved. Verizon generated $128.3 billion in revenue in 2020, reinforcing its position in the technology and communications sector.
Verizon and AWS have expanded their 5G Edge with AWS Wavelength mobile edge computing service to four new U.S. cities: Charlotte, Detroit, Los Angeles, and Minneapolis. This expansion allows developers to deploy applications with ultra-low latency, enabling innovative solutions such as drone and energy management. Companies like Easy Aerial and Fermata Energy leverage this technology for real-time data processing, enhancing operational efficiency and reducing costs. The service is now available in 17 locations across the U.S.
Verizon has launched a 5G Innovation Hub at Arizona State University (ASU), aimed at bridging the digital divide through technology. The first program, 'The Digital Equity Jam', invites student teams to create solutions using 5G Ultra Wideband and mobile edge compute. This initiative responds to the needs of an estimated one million residents in Arizona lacking internet access. Sponsored by Verizon, AWS, and Inseego, the program will begin in February 2022, culminating in funding and training for the winning team.
Verizon Business has launched BlueJeans Studio, an all-in-one event production and live streaming platform. This new tool enables creators and businesses to easily produce professional-grade live streams without technical expertise. Key features include no technical integration, ease of use, cost-effective subscription plans starting at $42/month, and the ability to host unlimited events. The platform aims to enhance audience engagement and extend broadcast reach across major platforms like Facebook, YouTube, and Twitch. BlueJeans Studio will be included in existing Events subscriptions at no extra cost.
Verizon Frontline restored communication services in Washington, a small mining town in Northern California, after a severe snowstorm disrupted landline services. Following a request from the Nevada County Sheriff’s Office, Verizon deployed its Satellite Picocell on a Trailer (SPOT) to provide 4G LTE and Wi-Fi services, aiding both residents and first responders. The support was offered at no cost and emphasized Verizon's ongoing commitment to public safety. With a history of collaboration with first responders, Verizon Frontline continues to enhance emergency communications capabilities.
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