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.
Ronan Dunne, executive vice president for Verizon (NYSE: VZ), will speak at the Bank of America Securities 2021 Media, Communications & Entertainment Conference on September 13, 2021, at 9:25 a.m. ET. His remarks will be available via webcast on Verizon's Investor Relations website. Verizon, headquartered in New York City, generated revenues of $128.3 billion in 2020 and is a leading provider of technology and communication services globally, offering mobility, security, and network solutions to its customers.
Verizon has expanded its 5G Ultra Wideband services to four new cities: Harrisburg, PA; Athens, GA; Orlando, FL; and Fremont, CA, bringing the total to 82 metros. Additionally, 5G Home Internet is now available in five more cities, totaling 57 locations. The service offers download speeds up to 1 Gbps and starts at $50 monthly for existing customers. Verizon is incentivizing switches from other ISPs by covering early termination fees up to $500. The advancements in 5G technology promise enhanced performance for both consumers and enterprises.
Verizon has announced a 10-year extension of its partnership with the NFL, becoming the league's Official Technology Partner and 5G Network. This collaboration aims to enhance innovation in management, training, and fan experiences across NFL venues. Verizon's 5G Ultra Wideband is already operational in parts of 25 stadiums, allowing fans to enjoy features like Multi-View camera angles. The partnership represents a significant investment, including over $80 million for Super Bowl preparations in Tampa. Verizon continues to develop advanced 5G applications that could transform game-day operations and fan engagement.
Verizon Communications (VZ) issued its third green bond worth $1 billion on September 3, 2021, reinforcing its position as a top corporate buyer of renewable energy in the U.S. The proceeds will fund renewable energy projects, including long-term virtual power purchase agreements (VPPAs) for nearly 1.9 gigawatts of capacity. These efforts align with Verizon's goals to meet 50% of its electricity needs through renewable sources by 2025 and achieve net-zero operational emissions by 2035. The company also emphasizes diversity in its underwriter selection, partnering with diverse firms for this bond issuance.
Verizon announced an exchange offer for its eight series of outstanding notes maturing from 2024 to 2026, allowing eligible holders to exchange them for new notes due in 2032. The exchange offers commence on September 2, 2021, and expire on October 1, 2021. Eligible holders must tender their old notes by September 16, 2021, to qualify for early participation payments. The exchange is capped at $3.5 billion, with various conditions including a minimum issue requirement of $1 billion. All transactions depend upon satisfying certain conditions as detailed in the offering memorandum.
Verizon is responding to the impact of wildfires in Northern California by offering unlimited calling, texting, and data from September 1 to September 7, 2021, for affected consumer and small business customers. This initiative covers specific zip codes related to the Caldor, Dixie, French, and Monument Fires. Additionally, changes to retail store hours may occur due to evacuation orders, and customers are encouraged to check online for updates. The Verizon Response Team is prepared to assist emergency communications.
Verizon Communications has declared a quarterly dividend of 64 cents per share, reflecting a 1.25 cents increase from the last quarter. This dividend, marking the 15th consecutive increase, is payable on November 1, 2021, to shareholders recorded by October 8, 2021. The company's confidence in revenue growth stems from its multi-purpose network strategy. With approximately 4.1 billion shares outstanding, Verizon paid around $5.2 billion in dividends in the first half of 2021, contributing to its substantial revenue of $128.3 billion in 2020.
Verizon Frontline has deployed over 300 advanced communication solutions to support more than 35 public sector agencies in Southeastern Louisiana following Hurricane Ida. The Verizon Response Team, activated prior to the storm, has provided essential technology such as satellite pico-cells, network extenders, and mobile hotspots to assist first responders in emergency operations. This ongoing support highlights Verizon's commitment to public safety and disaster response. The team will remain on-site as needed to aid agencies dealing with power outages and extensive storm damage.
Verizon announced a $100,000 donation to the Foundation for Louisiana to aid communities impacted by Hurricane Ida. This contribution supports the Hurricane Ida Relief Fund for Evacuation and Recovery. Verizon's commitment reflects its dedication to community support during crises, as highlighted by executive statements emphasizing the necessity of public-private partnerships in recovery efforts. Additionally, Verizon encourages customers to donate through text messages to aid organizations like World Central Kitchen and The Salvation Army, reinforcing its community-focused approach.
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