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 has announced a new on-premises, private edge compute solution in partnership with Microsoft. This solution utilizes 5G Edge with Microsoft Azure Stack Edge, allowing businesses to deploy real-time applications with ultra-low latency. It enhances efficiency, security, and performance for applications in computer vision, augmented reality, and machine learning. Ice Mobility is one of the first users, improving its product packing processes. Industry analysts predict this deployment model will drive growth in critical industrial use cases.
Verizon prepares for the impact of Hurricane Ida, mobilizing resources and technology to ensure communication continuity for first responders and communities. The Verizon Response Team is on standby, equipped with mobile assets, including drones and portable cell sites, to maintain connectivity during potential power outages and flooding. The company's strategy includes backup generators, on-demand emergency services, and a commitment to support public safety communication. With extensive year-round emergency drills, Verizon aims to provide reliable partnerships during disasters.
Verizon has released its Green Bond Impact Report, detailing the allocation of nearly $1 billion from its second green bond. The company is the first U.S. telecom to issue such bonds, totaling $2 billion to support renewable energy projects aimed at achieving net zero emissions by 2035. All proceeds from the second bond have funded 1 GW of renewable capacity, with 83% from solar and 17% from wind energy. This initiative is in line with Verizon’s Citizen Verizon program for responsible business practices.
Verizon is waiving call charges to Afghanistan for both consumer and business wireless customers, as well as residential landline customers, from August 24 to September 6, 2021. This initiative aims to support those wishing to connect with loved ones during a critical time. Additionally, customers can donate $10 to aid efforts in Afghanistan by texting RESCUE to 25383. Verizon, a leading technology and communications provider, generated $128.3 billion in revenue in 2020, indicating its strong market position.
Verizon is preparing for Hurricane Henri, emphasizing its commitment to maintaining network connectivity during emergencies. As part of its readiness, Verizon has fueled generators, staged emergency assets, and activated its Verizon Response Team to support first responders. The company highlights its robust infrastructure, including backup systems and mobile assets like drones and satellites, to ensure continuous service. CEO Kyle Malady reiterates the importance of connectivity during disasters, urging customers to have personal communication plans ready.
The Verizon Response Team has deployed its advanced Verizon Frontline technology to assist first responders in Western North Carolina following extensive flood damage from Tropical Storm Fred. This includes the use of Satellite Pico-cells on Trailers (SPOTs) to ensure critical voice and data services during the emergency response. Verizon Frontline, developed over nearly three decades, is designed to meet the unique needs of public safety agencies. The Verizon Response Team offers 24/7 assistance with communications solutions to boost network performance for emergency services.
Verizon is testing a Quantum Safe VPN to protect data against future hacking threats. As quantum computers evolve, they could break current encryption methods, prompting Verizon to explore advanced security solutions. In recent trials, the company demonstrated that a Quantum Safe VPN can replace public key encryption using Post Quantum Cryptography (PQC), securely exchanging keys between its 5G networks in London and Virginia. Verizon aims to stay ahead of cyber threats, ensuring data security for consumers and enterprises.
Verizon Waives Calling Charges to Haiti
In response to the devastating 7.2 earthquake in Haiti, Verizon announced that it will waive charges for calls made from its residential and business wireless and landline customers to Haiti from August 18 to August 31, 2021. This initiative aims to assist customers in reaching loved ones during this challenging time. Calls will be rated at $0.00 per minute, and customers with international plans will not use their allotted minutes. Additionally, Verizon promotes text-to-donate options for relief efforts, supporting organizations like Save the Children and UNICEF.
Verizon Communications has elected Carol B. Tomé to its Board of Directors, effective September 1, 2021. Tomé, who is currently the CEO of UPS, brings extensive experience in finance and strategic planning from her tenure at both UPS and Home Depot. She previously served on Verizon's Board in 2020. The appointment expands Verizon's board to 11 members, with 10 being independent. Chairman Hans Vestberg expressed confidence in Tomé's leadership, highlighting her expertise in growing businesses and adopting forward-looking ESG strategies.
FAQ
What is the current stock price of Verizon Communications (VZ)?
What is the market cap of Verizon Communications (VZ)?
What services does Verizon Communications Inc. offer?
How significant is Verizon's wireless segment?
Where is Verizon headquartered?
What recent partnerships has Verizon announced?
How does Verizon engage with the community?
What is Verizon's latest smartphone offering?
How did Verizon perform financially in 2023?
What is the focus of Verizon's Citizen Verizon initiative?
What is Verizon's involvement in Festival La Onda?
Which contract has Verizon been selected for by the Department of the Navy?
