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 reported strong 2Q 2021 earnings, including $1.40 in earnings per share (EPS) and an operating revenue of $33.8 billion, reflecting robust wireless revenue growth. The company experienced a 5.9% increase in total wireless service revenue year over year, along with substantial customer gains—528,000 retail postpaid net additions. The outlook for total wireless service revenue growth has been revised upward to between 3.5% and 4%. Verizon is also raising its adjusted EPS guidance to $5.25 to $5.35 for the year.
Verizon announced a collaboration with Google to enhance messaging services for Android users in the U.S. starting next year, utilizing the Messages by Google app. This partnership leverages the Rich Communications Service (RCS) standard, promising a more interactive messaging experience. Messages will be preloaded on all Verizon Android devices, enabling features like high-quality media sharing and end-to-end encryption. The RCS standard boasts over 444 million monthly active users globally, indicating strong international momentum. Furthermore, customers using Verizon's Message+ app will access RCS capabilities by year-end.
Verizon is enhancing its Fios service with new features, starting July 22, aimed at improving customer flexibility and satisfaction. The updated Mix & Match plan offers no data caps, no extra fees, and no annual contracts, while introducing Whole-Home Wi-Fi for better internet coverage. Verizon continues to deliver the fastest internet in America, with upload speeds up to 25x faster than cable. Customers switching to Fios Gigabit Connection can receive a Samsung Chromebook at no extra cost, solidifying Verizon's commitment to value and connectivity.
On July 20, 2021, Verizon Communications (NYSE: VZ) announced it will report its second quarter 2021 earnings on July 21. The earnings will be presented via a webcast starting at 8:30 a.m. Eastern Time. Details, including the earnings news release and financial tables, will be available on Verizon’s Investor Relations website at 7:00 a.m. the same day. Verizon generated $128.3 billion in revenues for 2020, showcasing its position as a leading provider of technology and communications services.
Verizon Business has expanded its 5G Business Internet offering to parts of 42 U.S. cities, up from 24 previously announced in April. Eligible new customers can receive a credit of up to $1,500 to offset early termination fees, along with a 10-year price lock guarantee. This service, powered by 5G Ultra Wideband, provides an alternative to cable Internet and features professional installation and unlimited data. The expansion aims to help businesses leverage advanced technologies like software-defined networking and edge computing.
Verizon has been recognized by RootMetrics for overall network performance for the 16th consecutive time, underscoring its reliability and customer satisfaction. The latest report highlights Verizon's top rankings in accessibility and call/text categories, with 738 Metro Area RootScore Awards won out of 875 chances. Post-COVID, network reliability is becoming increasingly critical, with nearly 90% of Americans rating it as vital when selecting a mobile provider. Verizon's network speed metrics also stood out, with 117 Reliability RootScore Awards and significant median speeds across 43 markets.
Verizon Business and Mastercard have announced a strategic partnership aimed at transforming the global payments and commerce landscape. The collaboration will leverage Verizon's 5G connectivity and Mastercard's extensive payment network to create innovative solutions such as contactless shopping and autonomous checkout. Key initiatives include enabling connected devices for seamless payments, enhancing retail experiences, and empowering small businesses with digital tools. The partnership aims to drive efficiencies and improve customer engagement across various industries.
Verizon Business has unveiled new BlueJeans Meetings features for mobile devices, enhancing the mobile meeting experience for hybrid workers. Key updates include improved layout flexibility, a 7x7 gallery view accommodating up to 49 participants, and multitasking support. The integration of Vuzix Smart Glasses for video conferencing and the launch of the motorola one 5G UW ace loaded with the BlueJeans app are significant advancements. Verizon's Mobile Edge Compute service is expected to further enhance performance, reliability, and quality in video conferencing, leveraging the capabilities of its 5G network.
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