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 and the Washington Nationals have announced a new marketing and philanthropic partnership, making Verizon a proud partner of the Nationals. This alliance aims to enhance fan experiences and strengthen community contributions in Washington D.C. and beyond. Key highlights include:
1. Verizon signage at Nationals Park and on the bullpen cart
2. Creation of unique fan experiences
3. Expanded support for Washington Nationals Philanthropies
4. A sweepstakes offering tickets and exclusive experiences for fans
5. Verizon as the red carpet sponsor for the 2025 Nationals Homecoming Gala
6. Continued investment in the Nationals Youth Baseball Academy
The partnership reflects both organizations' commitment to supporting the D.C. community and enhancing the overall baseball experience for fans.
Verizon Frontline recently supported first responders at the Dallas Fort Worth International Airport's (DFW) preparedness showcase. The event brought together over 100 participants from various public safety agencies. Verizon deployed its Crisis Response Team, Satellite Solutions Group, and Network Assurance Team to provide critical communications services.
Key technologies provided included a Tactical Command Trailer, Community Response Trailer ('Big Red'), and a High Altitude Wireless Kennawhat (HAWK) drone. The showcase successfully demonstrated interoperable communications among different agencies, highlighting Verizon Frontline's commitment to supporting first responders with advanced network solutions.
Verizon is hosting a graduation ceremony on July 16th, 2024, in Philadelphia for small businesses completing a six-month technology training program. The event, held at Verizon's 1430 Walnut Street store from 8:30 a.m. to 10:30 a.m., will also include a session on AI adaptation for small businesses. This initiative is part of Verizon's $1M national Verizon Forward Community Enhancement Award, with a $50,000 investment to the African-American Chamber of Commerce and the Greater Philadelphia Hispanic Chamber of Commerce.
The program aims to help small businesses leverage technology to improve capacity and efficiency. Verizon's commitment to supporting diverse small businesses is further demonstrated through its Verizon Small Business Digital Ready platform, which has supported over 3,900 small businesses in Philadelphia with courses, workshops, and networking opportunities.
Verizon's network demonstrated resilience as Hurricane Beryl struck Houston. Despite widespread power outages, Verizon quickly restored connectivity for its customers using backup battery and generator power. Ninety percent of Verizon’s macro cell sites in Houston have backup generators. Verizon’s engineers have been working around the clock to maintain and restore services, deploying seven mobile assets to the area. The Verizon Frontline Crisis Response Team also provided important communication support to 20 different emergency management teams. Additionally, Verizon set up community resources like portable cell sites and Wi-Fi hotspots and is waiving call/text/data usage costs for affected customers from July 8-17, 2024.
Verizon Business has been ranked #1 in customer satisfaction for Small Business Internet for the sixth consecutive year, according to the J.D. Power 2024 U.S. Business Internet Satisfaction Study. This accolade is based on responses from over 1,735 U.S. small businesses with 1-19 employees, highlighting Verizon's performance across six key factors: performance and reliability, cost of service, communications, billing, digital account management, and customer service. Aparna Khurjekar, Chief Revenue Officer at Verizon Business, emphasized the company's dedication to ensuring small businesses thrive. Verizon generated $134 billion in revenue in 2023, underscoring its position as a leading provider of technology and communication services.
Verizon's Frontline Crisis Response Team has provided important support to Grand Traverse County, Michigan following a ransomware attack. The team, upon request, delivered over 80 Verizon Frontline communication solutions to various county agencies to restore operations. Emergency management coordinator Gregg Bird expressed gratitude for Verizon Frontline's assistance in establishing temporary networks to ensure the continuation of public safety and essential government functions. Verizon Frontline offers on-demand emergency support to government agencies and first responders, including portable cell sites, Wi-Fi hotspots, and charging stations, at no cost. Verizon boasts a robust advanced network specifically designed for first responders, built through three decades of collaboration with public safety officials. In 2023, Verizon generated a revenue of $134 billion and continues to innovate to meet the evolving needs of its customers worldwide.
Total Wireless, operating on Verizon's 5G network, has launched new competitive prepaid wireless offerings. These include 10x faster unlimited data, a five-year price guarantee, and complimentary 5G phones with eligible plans. New customers can access unlimited data for under $30/month, with taxes and fees included. Additionally, customers get a $200 anniversary credit towards a new 5G phone after 12 months of plan payments. Total Wireless also provides a fourth line at no extra cost. The revamped brand look aims to distinguish Total Wireless in the market. The new offerings are designed to challenge competitors by providing reliable connectivity and no hidden fees. More information can be found at totalfacts.com.
Verizon has announced the availability of Samsung's latest Galaxy Z Fold6 and Z Flip6 smartphones, with pre-orders starting July 10, 2024, and full availability on July 24, 2024. The Galaxy Z Fold6 starts at $52.77 per month, while the Galaxy Z Flip6 starts at $30.55 per month, both over a 36-month payment plan with 0% APR. Additionally, Verizon is offering up to $800 off with any Samsung smartphone trade-in, and a free memory upgrade to 512GB for the price of 256GB when pre-ordering.
Other available products include the Galaxy Watch Ultra, Galaxy Watch7, and Galaxy Buds3 Pro with various offers and discounts. Verizon's promotional deals also include discounts on accessories and a Verizon Free Trial, providing unlimited premium data on 5G Ultra Wideband for 30 days.
The Washington Freedom of Major League Cricket (MLC) has announced Verizon as their team sponsor for the 2024 season, starting in July. Verizon, a leading telecommunications company, will have its logo on team helmets and caps. This partnership aligns with the expansion of cricket in the U.S., coinciding with the ICC Men’s Twenty20 World Cup and cricket's inclusion in the 2028 Los Angeles Olympics. The MLC's inaugural season in 2023 attracted over 70,000 fans and was broadcasted to 87 countries. The collaboration aims to foster community engagement through year-round initiatives.
Faction has launched self-driving light electric vehicle (EV) testing in Houston, Texas, aiming to transform curbside delivery operations. This initiative leverages Faction's proprietary DriveLink® autonomy system and TeleAssist® for remote human assistance, deploying a fleet of self-driving light EVs. These vehicles will conduct real-world testing with customer deliveries, gathering valuable data to enhance autonomous vehicle operations. A key partnership with Verizon (NYSE: VZ) provides important mobile connectivity and hyper-precise location services, ensuring efficient and reliable operations. Faction's CEO, Ain McKendrick, highlighted the potential of their technology to revolutionize urban transportation and foster a more sustainable future.
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