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 Prepares for Hurricane Season 2021
Following an active hurricane season in 2020, Verizon emphasizes readiness for 2021's anticipated challenges, including 23 named storms. The company reinforces its network capabilities to ensure connections during severe weather. Key initiatives include support for first responders, a robust backup strategy, and advanced technology deployments, such as drones and satellite communications. Verizon stresses the importance of personal and community preparedness, urging customers to develop communication plans and backup strategies.
The Verizon Business 2021 Data Breach Investigations Report reveals a significant rise in security incidents amid continuing cyber threats. The report analyzed 29,207 incidents, with 5,258 confirmed breaches, marking a 33% increase from the previous year. Key findings include an 11% rise in phishing and a 6% increase in ransomware attacks. Notably, 85% of breaches involved human factors, and the median financial impact of breaches is estimated at $21,659. The report highlights the critical vulnerabilities associated with remote work and cloud reliance, with web applications accounting for 39% of all breaches.
Verizon, Capitol Music Group, and Motown Records have launched an Emerging Tech and Emerging Artist program that leverages 5G and Multi-Access Edge Computing (MEC). Artists will utilize advanced tools at Verizon's 5G Lab for content production. The first event features an immersive concert with TheHxliday on May 14, available across various platforms. This initiative aims to enhance fan engagement through new digital experiences, providing artists with cutting-edge technology to enrich performances and reach broader audiences.
Verizon is launching its largest retail recruitment effort in over five years, adding more than 1,000 retail positions nationwide to meet the demand for 5G technologies and customer engagement. This initiative reflects increasing customer visits to stores and aims to enhance customer experience. The company highlights its accolades as a top employer, including recognition for supporting women and disability equality. Interested applicants can explore opportunities on Verizon's career page.
Verizon's New Study reveals that 90% of homebuyers prioritize fast, reliable home internet and good cellular service over traditional factors like school proximity and commute time. The survey shows that nearly 80% of buyers believe 5G technology enhances a home's value. Following the pandemic, 73% of prospective buyers require 5G more at home than on the go. Realtors have noted an increased demand for information on broadband and cellular access, with 69% seeking broadband details.
Verizon has partnered with Oak View Group to deploy 5G technology at three major venues: New York UBS Arena, Seattle Climate Pledge Arena, and Coachella Valley Arena. This multi-year agreement makes Verizon the exclusive 5G and wireless partner for these arenas, enhancing fan experiences through advanced solutions in public safety, crowd management, and concessions. Verizon's 5G Ultra Wideband network will offer speeds of up to 4 Gbps, enabling seamless connectivity. Additionally, Verizon is committed to sustainability, having issued a second $1 billion green bond.
Verizon Business has formed a strategic partnership with RingCentral, delivering cloud-based enterprise communication solutions that include team messaging, video meetings, and a cloud phone system. The collaboration results in the co-branded service RingCentral with Verizon, a unified communications as a service (UCaaS) solution that enhances Verizon's network-as-a-service strategy, integrating 5G, mobile edge computing, and security. This partnership aims to address the evolving needs of distributed workforces, providing a secure, flexible platform for enterprises to operate effectively.
Verizon Business has launched global IoT connectivity for mobile assets, covering 170 countries with permanent roaming in North America and Western Europe, all on a single SIM. This initiative allows organizations to manage various IoT devices, including asset trackers and sensors, via the ThingSpace platform. Industry analysts project over 150,000 IoT devices will connect every minute by 2025. Verizon's extensive experience and infrastructure support this connectivity, enabling U.S. multinationals to deploy devices across Canada, the UK, and over 10 European markets.
Verizon has achieved 4.3 Gbps speeds through a lab trial by aggregating C-band and mmWave spectrum, positioning itself for significant 5G Ultra Wideband expansion. Collaborating with Ericsson and MediaTek, the trial utilized 100 MHz of C-band spectrum with 600 MHz of mmWave spectrum, enhancing efficiency and user experience. The company plans to use the new 5G C-band spectrum in 46 initial markets in Q1 2022, with coverage expected to reach 250 million people by 2024, providing faster and more reliable connectivity for consumers and businesses.
On May 5, 2021, LaLiga North America partnered with Verizon to launch the LaLiga All-Star Gaming Challenge, a unique gaming platform for amateur FIFA gamers. Running from May 1 to November 30, the program allows participants nationwide to engage with LaLiga players and influencers through gaming challenges and tutorials. Winners may earn a trip to Spain for an immersive LaLiga experience. This initiative aims to connect LaLiga fans across major U.S. cities, enhancing community engagement through gaming.
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