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 Communications reported strong first-quarter 2021 results, with earnings per share of $1.27, up from $1.00 the previous year. Net income rose by 25.4% to $5.4 billion. Wireless service revenue reached $16.7 billion (up 2.4%), while Consumer Fios Internet net additions hit a record 102,000. Despite 326,000 retail postpaid net losses, total operating revenue increased by 4.0% to $32.9 billion. Verizon has achieved $10 billion in cash savings ahead of schedule and expects continued growth in 2021.
Verizon Communications Inc. (VZ) is set to report its first quarter 2021 earnings on April 21, 2021, during a webcast at 8:30 a.m. ET. The public can access the earnings news release and presentation materials starting at 7:30 a.m. on Verizon's Investor Relations website. In 2020, Verizon generated revenues of $128.3 billion and continues to be a key player in technology and communications, offering a range of products and services including data, video, and voice solutions.
Verizon has begun deploying C-band spectrum equipment from Ericsson and Samsung to enhance its 5G Ultra Wideband service. This initiative aims to make 5G accessible to 100 million customers by March 2022, following an acquisition of 161 MHz of C-band spectrum in the FCC auction. The company’s strategic partnerships with tower operators are also expediting deployment processes. Enhanced network infrastructure will facilitate improved performance for mobile, home broadband, and business solutions, with coverage projected to expand to over 250 million people by 2024.
Verizon has announced ambitious sustainability goals including a 53% reduction in operational emissions and a commitment to help avoid 20 million metric tons of CO2e annually by 2030. New initiatives include the Forward for Good Accelerator to assist communities facing climate challenges and a pledge to plant 20 million trees by 2030. The company aims for net zero operational emissions by 2035 and has established a plan to generate or source 50% of its energy from renewable resources by 2025. Verizon's 2020 ESG Report highlights its efforts to manage environmental, social, and governance risks.
Yahoo's Expansion of XR Partner Program enhances its leadership in 5G XR storytelling, partnering with The Hollywood Reporter. This collaboration will deliver augmented reality experiences on desktop and mobile devices via Yahoo's Immersive Platform. The initiative aims to engage audiences in entertainment through interactive content, featuring projects like the Immersive Red Carpet. The partnership is part of Yahoo's strategy to innovate in digital media and offer immersive storytelling experiences that resonate with consumers.
Verizon 5G Business Internet has expanded its fixed-wireless connectivity to 24 US cities, providing businesses of all sizes with an alternative to cable Internet. The service offers multiple pricing plans, with no data limits and a 10-year price lock. Professional installation is included without a long-term contract. A recent survey indicates that 80% of business decision-makers believe 5G will create new opportunities. The offering includes plans up to 400 Mbps, enhancing business productivity through superfast speeds and low latency.
Yahoo Finance will exclusively livestream the Berkshire Hathaway Shareholders Meeting on May 1, starting at 12:30 PM ET. This marks the sixth consecutive year of Yahoo Finance's partnership with Berkshire Hathaway. Viewers will hear from key executives including Warren Buffett and Charlie Munger on the economy and markets. The event will include a pre-show, live Q&A, and post-show coverage while offering interactive features like 'Watch Together' for co-viewing. The livestream will have options in English and Mandarin, with an audio replay available on podcast platforms post-event.
Verizon Business launches Hyper Precise Location (HPL), a real-time kinematics service that enhances satellite-based location accuracy from meters to centimeters. HPL is available via Verizon ThingSpace across 100+ U.S. markets, supporting 5G and 4G networks. The offering allows developers to access GNSS correction data at low costs while ensuring user privacy, as location data is never stored or shared. HPL can facilitate advanced applications in automotive, robotics, and agriculture, aligning with next-gen technologies like C-V2X for vehicle safety.
Verizon Media has launched its Next-Gen Solutions suite, which enables audience targeting without relying on cookies or mobile IDs. This innovative offering strives to meet the changing needs of advertisers and publishers amid evolving privacy regulations. Utilizing machine learning and real-time data, the suite includes Next-Gen Audiences, Next-Gen Buying, and Next-Gen Measurement tools, providing a comprehensive framework for effective ad experiences. Accessibility to audiences and buying functionalities is expected in Q2 2021, with measurement tools following in Q4 2021.
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