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 declared a quarterly dividend of 64 cents, maintaining the previous rate. The dividend will be paid on February 1, 2022, to shareholders recorded by January 10, 2022. CEO Hans Vestberg emphasized the company's strategy aimed at providing value to shareholders. Verizon has about 4.1 billion shares outstanding and has paid approximately $7.8 billion in dividends over the last three quarters. In 2020, the company reported revenues of $128.3 billion, positioning itself as a leading communications provider.
Verizon Expands 5G Internet offerings in Dayton, OH and Jacksonville, FL, making super-fast connectivity available for homes and businesses. The 5G Home Internet provides unlimited data, with max download speeds up to 1 Gbps, starting at $50/month for qualifying customers. A $500 credit is offered to cover early termination fees for those switching providers. The 5G Business Internet includes professional installation and a price lock guarantee for 10 years. New customers can also access Disney+ and AMC+ for 12 months, plus a Google Nest Hub Max. The expansion reaches 62 cities for 5G Home and 59 cities for 5G Business.
Verizon Public Sector has secured $34.6 million in contracts with the U.S. Department of Energy (DOE) for voice and data services. These awards, part of the Enterprise Infrastructure Solutions (EIS) contract, will support DOE facilities, including its Washington, D.C. headquarters. Verizon will provide next-generation voice solutions, transitioning from TDM to IP-enabled services, and various data services such as Ethernet Transport and Private Line Services. This announcement follows other EIS wins for Verizon with U.S. government entities.
Verizon has launched two premium soundbars, the Stream TV Soundbar ($399.99) and Stream TV Soundbar Pro ($999.99), designed in collaboration with Bang & Olufsen. These soundbars offer an immersive home theater experience with built-in 4K Ultra HD streaming and Dolby Atmos virtual surround sound. Customers can benefit from Verizon’s Buy More Save More promotion, which offers up to 40% off accessories when purchasing multiple items. The soundbars integrate seamlessly with existing media devices and are available exclusively at Verizon starting today.
Verizon Business is enhancing its Network as a Service (NaaS) strategy by adding new Cisco managed SD WAN services that support 4G and 5G connectivity. This move is designed to help enterprises scale and adapt to customer demands, leveraging Verizon's robust network capabilities. The solutions include managed Cisco SD WAN for specific router families, a performance suite that enhances security and observability, and cloud collaboration services integrated with Cisco Webex. Verizon's leadership in the SD WAN market is further highlighted by its recent accolades in the industry.
Verizon has launched exciting holiday deals on 5G phones, internet services, and accessories. New customers can earn up to $1,000 with phone trade-ins and switch offers. Key promotions include a buy-one-get-one-free deal on select 5G smartphones and smartwatches. New Fios Gigabit Connection subscribers enjoy a $200 Verizon Gift Card and access to Disney+ for a year. Also, a new credit card promotion allows customers to earn up to $200 in credits. These offers are available for a limited time, encouraging holiday shopping.
Verizon Communications has successfully completed the acquisition of TracFone Wireless for $3.125 billion in cash and stock. This deal enhances Verizon's position in the prepaid wireless market by incorporating TracFone's brands, which serve around 20 million subscribers. The acquisition enables Verizon to offer improved services, including expanded 5G access and more choices for consumers. Verizon will maintain its commitment to Lifeline services and further develop TracFone’s offerings, expecting to enhance overall customer experience and market penetration.
Verizon has received FCC approval for its acquisition of TracFone, enhancing customer offerings through improved devices, network performance, and services. Verizon aims to leverage this acquisition to expand its market presence and commitment to Lifeline services. The company expressed gratitude to FCC officials and community organizations supporting the deal. With a strong financial backdrop, generating $128.3 billion in revenue in 2020, Verizon seeks to deliver value to both existing TracFone customers and new users in a competitive market.
Verizon has launched its Black Friday deals early, offering discounts on 5G phones, home internet, and tech accessories, available in stores and online. Customers can trade in devices for up to $1200 off new smartphones and receive virtual prepaid Mastercard bonuses up to $800 for switching. Fios Gigabit Connection includes 12 months of Disney+ and AMC+, plus a choice of Google Nest products. Business customers can benefit from special offers. Promotions run from November 18 to the end of Black Friday weekend.
Verizon Business is reviving Small Business Days from November 18-24, offering early access to Black Friday deals for small and midsize businesses. Participants can access up to $1,200 in savings, waived fees, and personalized tech assessments. Eligible businesses can save on new 5G devices by trading in and starting new lines. This initiative is part of Verizon's commitment to support small businesses, complemented by the recently launched Verizon Small Business Digital Ready portal, which offers digital tools and learning resources.
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