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 2, 2021, Verizon Communications declared a quarterly dividend of 62.75 cents per share, consistent with previous payments. This dividend will be payable on August 2, 2021, to shareholders of record by July 9, 2021. The company aims to enhance shareholder value through a sustained multi-purpose network strategy. In 2020, Verizon paid out $10.23 billion in dividends. With approximately 4.1 billion shares outstanding, Verizon reported revenues of $128.3 billion in 2020.
Verizon expands its 5G Home Internet service to seven additional cities, including Columbus, Greensboro, and Raleigh starting June 3, followed by Des Moines, New Orleans, Seattle, and Tucson on June 10. This expansion brings the service to a total of 40 markets, meeting the growing demand as 77% of homebuyers value 5G connectivity. To encourage switches, Verizon offers up to $500 in early termination fee coverage and a $100 credit for new online customers.
Verizon is enhancing customer access to its 5G network by allowing trade-ins of any phone condition for new 5G devices on select unlimited plans. The initiative aims to attract both new and existing consumers and small businesses, offering coverage for switching costs. Customers can enjoy premium entertainment options, including Apple Music and Disney+, with their plans. Verizon's 5G Ultra Wideband is now available in over 75 cities, providing ultra-fast speeds for various applications. The summer promotion runs from June 4 to July 30, focusing on small business solutions.
Ronan Dunne, Verizon's EVP and Group CEO for Consumer, will speak at the Bernstein 37th Annual Strategic Decisions Conference on June 2, 2021, at 8 a.m. ET. The event will be webcast live, and details can be found on Verizon's Investor Relations page.
Verizon, one of the leading global providers of communication and technology services, reported $128.3 billion in revenue for 2020. The company is headquartered in New York City and offers a range of services, including data, video, and voice solutions, on its renowned networks.
AiFi has partnered with Verizon Business to introduce an autonomous shopping experience at the 105th Indianapolis 500 on May 30, 2021. The event will feature AiFi's NanoStore, a fully autonomous store utilizing Verizon's 5G Ultra Wideband network. Attendees can purchase snacks and merchandise while avoiding crowded lines through a contactless shopping experience. AiFi's technology boasts a 99% accuracy rate without using facial recognition. The partnership aims to enhance customer service and safety during large gatherings, catering to the evolving demands of event attendees.
Verizon Launches 5G Ultra Wideband in Popular U.S. Destinations
On May 27, 2021, Verizon announced the rollout of its 5G Ultra Wideband service in key vacation spots like Niagara Falls, Jersey Shore, Delaware Beaches, and Ocean City, MD. This move aims to enhance connectivity for residents and visitors, facilitating seamless streaming, gaming, and business operations. The rollout comes as mobile data usage spikes, with a reported 28% increase in mobile handoffs since January. Verizon emphasizes the potential for improved public safety and business operations through its advanced 5G technology.
Verizon announced its second virtual commencement series, "Ready for Anything", featuring speakers like Aisha Bowe, Alex Rodriguez, and Ajay Banga. The events, streamed on Twitter and LinkedIn on June 3 and June 17 at 11:00 a.m. ET, aim to support graduates amid ongoing pandemic challenges. Freestyle Love Supreme Academy will provide live performances. CEO Hans Vestberg emphasized the importance of connecting with graduates during this time. Verizon, a leader in technology and communications, reported revenues of $128.3 billion in 2020.
Verizon has appointed Mark Jules as the Head of Sensor Intelligence, a position aimed at enhancing automation solutions using the company's 5G Ultra Wideband network. This role is part of the New Business Incubation team and focuses on leveraging sensor data for improved efficiency. Jules, with over 20 years of experience in IoT and smart spaces, aims to drive advancements in sensor fusion technologies. Verizon has a notable portfolio in IoT solutions, contributing to its $128.3 billion revenue in 2020.
Verizon Media has launched a comprehensive Digital Out-of-Home (DOOH) product suite, allowing advertisers to plan, execute, and measure campaigns seamlessly. This self-serve platform addresses key advertiser needs, as 93% prefer a centralized digital advertising solution. The suite features tools for forecasting, first-party re-engagement, and measurement of campaign effectiveness leveraging Verizon’s extensive data network. With increased DOOH investment predicted post-lockdowns, this offering positions Verizon Media to capitalize on the growth of omnichannel marketing strategies.
Verizon has enhanced its mobile gaming offerings by providing six months of either Apple Arcade or Google Play Pass for new and existing customers with unlimited plans, effective May 25. This initiative aims to boost their entertainment value, including popular streaming services and extensive mobile gaming options.
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