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 has announced initiatives that will exceed $3 billion in responsible business investments by 2025, aiming to bridge the digital divide in underserved communities. Key highlights include a partnership with the National 4-H Council for digital skills training and the resumption of STEM programs for young men of color and rural young women. Starting May 12, the Emergency Broadband Benefit program will offer monthly discounts on internet services for qualifying customers. Verizon's network remains the most reliable for rural customers, covering a vast area and supporting digital inclusion efforts.
Verizon's Human Capital Report outlines its commitment to workforce development and talent retention. Released on April 30, 2021, the report highlights efforts to engage over 133,000 employees in a competitive labor market, especially in the context of 5G technology. CEO Christy Pambianchi emphasized the importance of attracting diverse talent, with 50% of board members and executives being women or racially/ethnically diverse. In 2020, Verizon invested $203.6 million in employee training, aiming to upskill 100,000 employees. The company continues to embrace transparency and strive for equity and engagement within its workforce.
Peter Mitchell has been appointed general manager of Verizon Connect, effective April 29, 2021. Mitchell expands his role as the chief technology officer, previously leading product and engineering teams across multiple regions. He aims to enhance growth and innovation in SaaS-based fleet management solutions, essential for improving safety, efficiency, and productivity. Mitchell succeeds Andrés Irlando, who left for another opportunity.
Verizon has installed its 5G Ultra Wideband network at GE’s Research Lab in Niskayuna, NY. This collaboration signals advancements in various applications, including remote patient monitoring, real-time control of wind farms, and aircraft engine maintenance. The 5G technology delivers speeds at least 10 times faster than 4G with ultra-low latency, enhancing asset management capabilities. GE's CTO highlighted this as a transformative step for industrial connectivity. The project aims to create next-gen solutions harnessing AI, machine learning, and other digital technologies.
On April 29, 2021, Verizon announced it will offer the latest Apple products including the new iPad Pro, iPhone 12, iPhone 12 mini, AirTag, and Apple TV 4K starting on April 30. Customers can get up to $200 off the iPad Pro with eligible trade-ins. The iPhone 12 lineup, now available in purple, also supports 5G connectivity across over 70 cities. The next generation of Apple TV 4K features a new Siri Remote and advanced HDR. Verizon promotes its 5G Nationwide network, highlighting various plans and promotions for acquiring these devices.
Jennifer Chronis has been appointed as the senior vice president of Verizon Public Sector, effective April 28, 2021. With over 25 years of experience in digital transformation, including a notable military career, Chronis is set to lead the team focused on delivering essential technology solutions for federal, state, local, education, and public safety sectors. Her leadership is expected to enhance Verizon's offerings like Verizon Frontline, designed for first responders, and bolster partnerships with the U.S. Department of Defense, as the company aims to meet evolving public sector demands.
Verizon Communications has announced the redemption of two sets of notes on May 28, 2021. The 2.45% Notes due 2022, with an outstanding principal amount of $793,983,000, and the 5.15% Notes due 2023, totaling $3,190,096,000, will be redeemed. The redemption price for each will depend on the calculated present values of future payments or the principal amount, plus accrued interest. Verizon's revenue was $128.3 billion in 2020, and the company continues to be a leading provider of communication services.
Verizon and Snap Inc. have launched their second 5G augmented reality (AR) experience, transforming a mural in Venice Beach into an immersive storytelling platform for the National Wildlife Federation’s #SaveLACougars campaign. This AR Lens allows users to witness the journey of P-22, a Los Angeles cougar, and learn about wildlife conservation efforts. The campaign has raised over $19.2 million for wildlife initiatives, with Verizon and Snap donating $150,000 to support the wildlife crossing. The 5G Ultra Wideband technology enhances this experience, showcasing the intersection of technology, art, and environmental advocacy.
Verizon Business is launching Small Business Days from April 29 to May 7, offering discounts and services to help small businesses enhance their technology. Key offerings include up to $1,000 off select new 5G phones, a 10-year price guarantee for 5G Business Internet starting at $69/month, waived fees, and complimentary tech evaluations. According to a recent report, 69% of decision-makers believe 5G will help mitigate the pandemic's impact. The promotion is available at all Verizon retail locations and virtually.
Verizon is celebrating Mother's Day by offering special 5G gifts and services to customers. Starting today, customers can purchase a 5G phone and receive a second one at no cost with select Unlimited plans. Premium content options like Disney+, Hulu, ESPN+, and Discovery+ are also included. Nearly all Verizon stores are open, allowing customers to shop in-store or reserve appointments for convenience. The company emphasizes customer safety with health guidelines in effect. Verizon reported $128.3 billion in revenues in 2020.
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