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 Univision have announced a multi-year partnership to enhance the viewing experience for Liga MX fans using advanced 5G technology. The collaboration introduces TUDN Vision, a 360-degree content portal offering immersive features such as live stadium views and player warmups, launching on April 17, 2021. Verizon will leverage its 5G Ultra Wideband network to improve production processes and analytics-driven broadcasts. This partnership aims to deepen fan engagement and deliver innovative soccer experiences through state-of-the-art technology.
Verizon has signed agreements with Crown Castle and SBA Communications to expedite the deployment of 5G Ultra Wideband using recently acquired C-band spectrum. The company secured 161 MHz of C-band, enhancing service delivery to an additional 250 million customers and offering choices to 50 million more for their internet providers. The agreements will streamline processes, allowing for faster installation of necessary network equipment on existing towers, critical for the company's continued growth in the competitive 5G market.
Verizon Communications has announced the redemption of approximately $713 million of 2.946% Notes due in 2022, effective May 10, 2021. The redemption price will be the greater of 100% of the principal or the present value of remaining payments discounted at the Treasury Rate plus 15 basis points, plus accrued interest. This action reflects Verizon's proactive debt management strategy and commitment to optimizing its financial structure. Shareholders and bondholders can direct inquiries regarding the redemption to U.S. Bank National Association.
On April 8, 2021, Honda and Verizon announced their collaboration to improve connected vehicle safety through 5G and mobile edge computing at the University of Michigan's Mcity. This partnership aims to enhance real-time communication between vehicles, infrastructure, and pedestrians, ultimately reducing traffic collisions. Honda's SAFE SWARM™ technology, using Cellular Vehicle-to-Everything communication, supports this initiative. The companies showcased three critical scenarios demonstrating the potential of this technology to enhance road safety, addressing issues like pedestrian visibility and emergency vehicle alerts.
Verizon Business has partnered with the Phoenix Suns to enhance fan engagement through the use of BlueJeans by Verizon. This initiative is aimed at providing a 'Second Screen' experience, allowing fans to interact more closely with the team during NBA games. The platform enables real-time interactions with features like polls and chats, improving the virtual viewing experience. With 95% of Suns fans never attending a game live, this digital strategy aims to strengthen relationships and foster brand loyalty, highlighting the importance of innovation in sports amidst changing viewer preferences.
Verizon expands 5G Home Internet service to parts of Milwaukee and Tampa as of April 8, 2021. This fast broadband option now reaches 30 markets. The service boasts max download speeds up to 1 Gbps and typical speeds of 300 Mbps, with no data limits. Pricing starts at $50 monthly for customers with a qualifying mobile plan and $70 for others. Easy self-installation and a free Stream TV device with a 12-month subscription to discovery+ are included. Verizon generated $128.3 billion in revenue in 2020.
Honda and Verizon are collaborating at Mcity to enhance road safety using 5G Ultra Wideband and Mobile Edge Compute (MEC). Their research focuses on implementing Honda SAFE SWARM™, which minimizes onboard AI needs by utilizing 5G for vehicle communication. Initial tests aim to improve road alerts for emergency vehicles, pedestrian crossings, and red light violations. This partnership seeks to leverage low-latency data transmission to prevent collisions, aiming for a future of collision-free travel.
Verizon announces the launch of the 2021 Samsung Galaxy A series smartphones, including the Galaxy A42 5G, Galaxy A12, and Galaxy A02s. The Galaxy A42 5G, available from April 8 for $399.99 or $16.66/month, features a 48 MP camera and 5G connectivity. Customers can get it for $5/month with select Unlimited plans. The Galaxy A12 and A02s will be available on April 29, priced at $179.99 and $149.99 respectively. Verizon reported revenues of $128.3 billion in 2020, emphasizing its position in technology and communications.
Verizon Fios has launched new regional Spanish-language content add-ons for customers, allowing for a personalized viewing experience. Customers can select from packages including Región Caribeña, Región Mexicana, Región Sudamericana, and Región Española, starting at $10 for the first package and $5 for additional ones. Each package offers unique channels along with shared channels across all regions. This initiative aims to cater to the diverse preferences of Spanish-speaking customers, enhancing their entertainment options on the high-speed, fiber-optic Fios network.
Verizon is expanding its 5G Ultra Wideband coverage through the deployment of signal repeaters from FRTek and SureCall. This initiative aims to enhance connectivity for 5G mobility, 5G Home, and 5G Business Internet customers. With the ability to deliver speeds up to 4 Gbps, these services facilitate seamless streaming, remote work, and immersive experiences. The repeaters will amplify signals, especially in dense urban settings, thus broadening service reach. Verizon's strategy reflects its commitment to cost-effective and efficient expansion of its network.
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