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.
On June 25, 2021, Verizon Communications Inc. (NYSE: VZ) announced the election of Laxman Narasimhan to its Board of Directors effective July 1, 2021. Narasimhan, CEO of Reckitt Benckiser, brings significant expertise in consumer services and global operations. His addition will expand Verizon's board to ten members, nine of whom are independent. The company aims to leverage his experience as it accelerates 5G adoption and expands its business. Verizon reported revenues of $128.3 billion in 2020, positioning itself as a leading provider of technology and communication services.
Skyward, a Verizon company, has signed a Memorandum of Agreement (MOA) with the FAA to test cellular-connected drones. The agreement focuses on using cellular communication networks for command and control (C2) within the National Airspace System, particularly for complex operations like beyond visual line of sight (BVLOS). Over the three-year term, both parties aim to develop standards for drone operations utilizing Verizon's reliable 4G LTE network to improve safety and operational capability. This collaboration builds on previous FAA partnerships and is aimed at enhancing drone technology and regulatory frameworks.
Verizon Frontline technology was deployed for public safety operations during a concert in Newnan, Ga., supporting victims of an EF-4 tornado. The Verizon Response Team (VRT) utilized advanced network solutions to ensure safety at the event, which is expected to attract 18,000 attendees. Verizon Frontline, developed for first responders, provides critical communication support, including portable cell sites and WiFi. This effort exemplifies Verizon's commitment to public safety and community support, following their previous response to the tornado disaster.
Verizon Business has launched the 5G Immersive Retail Accelerator program with Digital Catapult and leading brands like Burberry, Diageo, and L’Oréal UK & Ireland. This unique initiative aims to harness 5G technology to tackle real-world retail challenges, focusing on enhancing customer experiences through innovative solutions. Start-ups and scale-ups in the immersive and retail sectors are invited to participate, gaining access to 5G capabilities and industry insights. The program will culminate in a showcase of new concepts over approximately 10 months.
Verizon's Preparedness for Wildfire Season
IRVINE, Calif., June 23, 2021 – As experts predict another extreme wildfire season, Verizon details its extensive preparations to ensure network reliability. The company has backup generators at most cell sites and has implemented redundant systems to maintain operations during power outages. Verizon Frontline provides essential support to first responders at no cost. Enhanced strategies include pre-arranged fuel deliveries, mobile communication centers, and improved response capabilities with drones. Verizon emphasizes year-round readiness to keep customers connected during emergencies.
Kentucky has been named the kindest state in America, according to new research conducted by Verizon in partnership with Kindness.org. The study surveyed thousands of individuals across all 50 states to assess acts of kindness. Key findings indicate that the average American is willing to sacrifice $6.40 to ensure a stranger receives $10. Kentucky topped the list, followed by New Mexico and Oklahoma. Verizon's campaign, "A Call for Kindness," promotes various acts of kindness through community involvement and partnerships. For more details, visit verizon.com/kindness.
Verizon announced the acquisition of Senion, a leader in location-responsive solutions, on June 21, 2021. This strategic move enhances Verizon’s location technology offerings, particularly in indoor positioning and navigation. Senion’s advanced machine-learning sensor fusion technology provides sub-meter accuracy, improving indoor wayfinding and analytics.
The acquisition is expected to leverage Verizon’s 5G capabilities, enhancing the integration of sensor fusion technology with location services and streamlining workflows for enterprises.
Verizon Public Sector has been awarded a contract by the Department of Defense to provide next-generation, secure networking services for its High Performance Computing Modernization Program (HPCMP) and Defense Research and Engineering Network (DREN). This setup aims to enhance supercomputing capabilities and facilitate collaboration among researchers across 200 RDT&E laboratories. The network will support high speeds of up to 400Gbps, promoting advancements in AI, climate change research, and autonomous defense systems.
Verizon Communications Inc. (NYSE: VZ) will announce its second quarter 2021 earnings on July 21, 2021, via a webcast at 8:30 a.m. Eastern Time. The earnings news release and financial tables will be accessible from Verizon's Investor Relations website starting at 7:30 a.m. on the same day. In 2020, Verizon generated revenues of $128.3 billion and is recognized as a leading provider of technology, communications, and entertainment services worldwide.
Verizon Family Money is a new app and prepaid debit card designed to help parents teach their kids about money management. Available for a 30-day free trial, it empowers children aged 8-17 to save, spend, and earn money while parents maintain control. Key features include a spending account, a savings Vault, and tools for parents to monitor activities and set limits. The service auto-renews at $5.99/month after the trial. Verizon aims to enhance financial literacy for families while expanding its suite of customer services.
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