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 Frontline's Response Team (VRT) supported PATRIOT 21, a National Guard-sponsored training exercise in Wisconsin, aimed at enhancing disaster response coordination. Utilizing over 100 advanced technologies, the VRT established essential communication capabilities for emergency responders during simulated crises, including earthquakes and mass casualty events. In 2020, the VRT responded to over 2,000 incidents, showcasing its expertise in disaster response. This initiative reflects Verizon Public Sector's ongoing commitment to partnership in public safety and defense.
Matt Ellis, CFO of Verizon (NYSE: VZ), will speak at the virtual Credit Suisse Communications Conference on June 15, 2021, at 3:40 p.m. ET. His remarks will be webcast, accessible via Verizon’s Investor Relations website. Verizon, founded on June 30, 2000, is a leading global provider of technology, communications, and entertainment services. In 2020, the company reported revenues of $128.3 billion, offering data, video, and voice solutions across robust networks.
Verizon showcased its 5G technology during the E3 gaming expo, highlighting advancements in mobile edge computing and partnerships with Electronic Arts, Dignitas, Riot Games, and Team Liquid.
They announced a $1 million scholarship aimed at increasing female representation in gaming and STEM, benefiting students at Historically Black Colleges and Universities.
This initiative includes creating tech centers and internship guarantees, further emphasizing Verizon's commitment to diversity and community engagement in advancing the gaming ecosystem.
Verizon is launching a promotion for customers who have received at least one COVID-19 vaccination, offering a 10% discount on accessories. This offer, effective from June 15, 2021, is also available for teachers, nurses, first responders, and military personnel. To redeem, customers must complete a questionnaire and will receive a promo code via SMS within 24 hours. The discount can be combined with other existing accessory promotions for increased savings on popular tech products. The offer is valid until August 15, 2021.
Verizon Business has launched On Site 5G, its first commercially available private 5G network solution in the U.S. This innovation allows large enterprises and public sector clients to establish custom, secure 5G networks at various facilities, enhancing connectivity even in areas lacking public 5G coverage. The solution supports data-intensive applications like IoT and real-time edge compute. Existing On Site LTE customers can seamlessly transition to the 5G network, which combines 5G Ultra Wideband and LTE capabilities for optimal performance.
Verizon Business launched its new Advanced Secure Access Service Edge (SASE) solution, combining SD WAN capabilities with network security services. This unified, cloud-delivered model aims to meet the complex needs of modern enterprises, especially in light of increased online threats and the challenges posed by the COVID-19 pandemic. The solution provides adaptive, end-to-end managed services, allowing businesses to focus on growth while Verizon handles their network security.
Verizon Connect is assisting customers in transitioning from 3G to 4G LTE technology, enhancing vehicle tracking capabilities. KRP Rentals and Trucking, based in Odessa, Texas, upgraded their vehicle tracking systems and reported faster response times and improved accuracy in asset location. The 4G migration enables better data speed, coverage, and tracking features, supporting seamless fleet operations. Verizon Connect offers resources to facilitate this transition, with the sunset of 3G scheduled for December 31, 2022.
Verizon is celebrating Father’s Day with exclusive offers on 5G phones and accessories. Customers can purchase a Samsung Galaxy S21+ 5G and receive a second phone at no cost with select unlimited plans. Verizon also provides up to $600 for switching two lines and includes premium entertainment subscriptions like Disney+, Hulu, and ESPN+ with upgrades to certain plans. The network boasts extensive coverage, now reaching over 230 million people, enhancing data speeds and connectivity with 5G Ultra Wideband.
On June 4, 2021, Verizon's CTO, Kyle Malady, will present at the virtual Wells Fargo Media Telco Day on June 7 at 9:30 a.m. ET. The webcast will be available on Verizon’s Investor Relations website. Verizon, a leader in technology and communications since its formation on June 30, 2000, reported revenues of $128.3 billion in 2020. The company is headquartered in New York City and provides a wide range of services, including data and voice solutions, highlighting its commitment to reliable network connectivity.
Verizon has appointed Manon Brouillette as the Chief Operating Officer and Deputy CEO of its Consumer Group, aimed at enhancing customer experience and driving growth in 5G technology. Brouillette previously served as President and CEO of Vidéotron, where she led significant growth. Her extensive experience in telecommunications will support Verizon’s market leadership while fostering employee engagement. The company continues to invest in C-band spectrum and the pending Tracfone acquisition to further expand its consumer services.
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