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 exclusive offer of the motorola edge 5G UW, a feature-rich 5G smartphone starting at $18.33/month with select Unlimited plans. The device boasts advancements such as a 108 MP camera, 6.8" Max Vision display, and enhanced mobile audio with Verizon Adaptive Sound. Customers can also access perks like six months of Google Play Pass and bundled subscriptions to Disney+, Hulu, and ESPN+ with certain plans. The motorola edge 5G UW is available for order starting October 14, 2021.
Verizon Business has been recognized by Gartner as a Visionary in the Magic Quadrant for Meeting Solutions for its BlueJeans Meetings. This recognition highlights Verizon's completeness of vision and ability to execute. The platform has seen impressive growth, with video conferencing license sales increasing 377% year-over-year and new bookings rising 174%. Leveraging Verizon’s 5G network enhances video collaboration capabilities, aiming to redefine work flexibility.
On October 11, 2021, Verizon launched Women’s CoLab, an initiative aimed at supporting women in re-entering the workforce post-COVID-19, which saw 5.4 million women losing jobs. The effort features resources, virtual events, and expert insights to help women achieve their career goals in a digital economy. Key partners include Accenture and Mastercard. A survey revealed 60% of women can't afford training, demonstrating the critical role of Women’s CoLab in promoting gender equality in the workplace.
Verizon continues to expand its 5G services, now offering 5G Home Internet in 60 cities, 5G Ultra Wideband mobility in nearly 90 cities, and 5G Business Internet in 57 cities. Significant changes include unlimited Verizon Business plans featuring mobile hotspots starting at $30 per line. The 5G Home service boasts max download speeds of up to 1 Gbps, affordable pricing beginning at $50/month, and incentives for switching from other providers. For businesses, new plans offer extensive features like unlimited premium data, saving up to $80/month by bundling services.
Verizon and the Los Angeles Unified School District have expanded their partnership to improve digital access for families in California, addressing the 9.6% of households without internet. This initiative provides mobile broadband and voice service plans to eligible families, initially launched during the pandemic for distance learning. The expansion also supports public libraries under the same contract terms, enhancing resources for education and job retraining. Verizon's commitment aims to bridge the digital divide across California, ensuring reliable internet for those in need.
Verizon Business and CareAR, a Xerox Company, have partnered to enhance service delivery and customer experiences through the CareAR SXM™ Platform. By integrating Verizon's 4G and 5G networks with CareAR's augmented reality and AI technologies, the initiative aims to enable technicians to resolve service issues more efficiently. This collaboration focuses on bridging the talent gap and improving customer outcomes, leveraging advanced technology to streamline workflows and reduce carbon emissions. The partnership is set against the backdrop of a shifting global workforce landscape.
Verizon Communications Inc. (NYSE: VZ) will announce its third-quarter 2021 earnings on October 20, 2021, during a webcast at 8:30 a.m. Eastern Time. The financial results will be preceded by access to relevant materials at 7:30 a.m. on the company's Investor Relations website. Verizon, one of the leading global providers of technology and communications services, generated $128.3 billion in revenue in 2020, showcasing its strong market position. Investors can find further resources and updates on Verizon's media center.
Verizon Public Sector has secured five Enterprise Infrastructure Solutions (EIS) task orders from the U.S. Department of Labor to modernize its legacy telecommunications and IT services for 20,000 users. This partnership aims to build a secure, converged data and voice network across nearly 1,000 locations. The task orders involve enhancing the DOL's IT backbone, audio and web conferencing, and deploying Unified Communications Services. Additionally, Verizon will transition the DOL’s hosting service to a scalable data center environment, thereby reducing IT infrastructure costs.
Verizon Business and Yealink launched the One Talk T67LTE, the first advanced desk phone in the US featuring embedded 4G LTE technology. Designed for hybrid workers, this device supports seamless communication without the need for rewiring, using Verizon's reliable network. The T67LTE offers HD voice service, integrates easily with the One Talk product suite, and can be relocated without complex setups. Set for availability in Q4 2021, this phone enhances workplace mobility and performance by freeing up internet bandwidth.
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