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 and Google Cloud have partnered to enhance mobile computing with 5G Edge technology, bringing cloud capabilities closer to connected devices. This initiative will provide real-time support for enterprise applications such as intelligent logistics and autonomous robots. The collaboration aims to unlock efficiencies and improve productivity across various industries. Additionally, Ericsson will pilot this technology at its USA 5G Smart Factory, utilizing Verizon's Sensor Intelligence solution for inventory management, enhancing operational effectiveness.
iBASIS has announced the approval of Verizon's local profile, the first to utilize dynamic download technology for IoT connectivity. This new feature addresses permanent roaming challenges in the U.S. by allowing devices to operate as local SIMs. With improved global coverage and reliability, iBASIS enhances its iBASIS Global Access for Things™ eSIM. The partnership with Verizon meets GSMA remote SIM provisioning standards, furthering iBASIS' position in both Low Power Wide Area (LPWA) and High Data use cases for IoT devices.
Verizon is offering unlimited calling, texting, and data for consumer and small business customers in parts of Kentucky and Illinois affected by tornadoes from December 12 to December 18. The initiative includes support from the Verizon Response team, which is available 24/7 to assist first responders. Areas impacted include Mayfield and Owensboro in Kentucky, and Edwardsville in Illinois. This action aims to ensure connectivity during recovery efforts, reflecting Verizon's commitment to community support.
Verizon's Skyward has announced the preorder availability of the Parrot ANAFI Ai, the first drone utilizing Verizon's 4G LTE connectivity. This new offering allows mid-flight processing of data into 2D maps and the creation of 3D models.
The Skyward Connected Drone Solution includes the drone, a one-year subscription, and free connectivity if ordered by January 31, 2022. Priced at $4,000, the drone facilitates faster data transfer and enhanced operational capabilities for various industries. Verizon emphasizes its commitment to advancing drone technology through reliable connectivity.
Verizon has surpassed its target of 14,000 new 5G Ultra Wideband cell sites, achieving coverage in 87 U.S. cities. The company reports a 750% year-over-year increase in 5G data usage. Verizon now offers 5G Home service in parts of 65 cities and 5G Business Internet in 62 cities. The ongoing deployment of C-Band spectrum will expand coverage to an additional 100 million customers by March 2022. This expansion, despite global supply chain challenges, positions Verizon for accelerated growth in 5G services and innovative broadband solutions.
On December 8, 2021, Verizon Frontline announced its support for public safety agencies during a year marked by significant wildfires, which affected over 6.8 million acres across 16 states. The Verizon Response Team provided approximately 2,000 advanced network solutions to nearly 200 communities at no cost, aiding fire mitigation efforts. These included mobile hotspots, routers, and satellite solutions. Verizon, a leading communication services provider, generated revenues of $128.3 billion in 2020, reflecting its commitment to enhancing public safety through technology.
On December 8, 2021, Ronan Dunne and Manon Brouillette from Verizon (NYSE: VZ) will present at the Barclays Global TMT Conference at 8 a.m. ET. The presentation will be available via webcast on Verizon’s Investor Relations website. Verizon, a leading provider of technology and communications services, reported revenues of $128.3 billion in 2020. The company has been pivotal in delivering data, video, and voice services through its robust networks.
Verizon announced the appointment of Krista Bourne as Chief Operating Officer of the Verizon Consumer Group, effective January 1, 2022. Bourne, who has been with Verizon for 20 years, previously served as Senior Vice President & President of Consumer Sales and Operations, overseeing services for over 100 million customers. Her leadership is expected to enhance Verizon's market position in 5G technology and further integrate VCG into a technology-driven entity, aiming for growth in the evolving telecommunications landscape.
Hans Vestberg, Chairman and CEO of Verizon (NYSE: VZ), is set to address the virtual UBS Global TMT Conference on December 6, 2021, at 9 a.m. ET. The event will be webcast, and details are provided on Verizon's Investor Relations website. Verizon, headquartered in New York City, is a global leader in technology and communications, boasting revenues of $128.3 billion in 2020. They deliver extensive data, video, and voice services through their renowned networks, meeting customer needs for connectivity and security.
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