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.
JumpStart has launched a new initiative, Access Tech, funded by Verizon, to connect Cleveland residents with digital education and tools necessary for success in the digital economy. This program aims to equip participants with foundational digital skills, career development, and business growth training, while providing equipment like laptops and internet access to those in need. Selected for Verizon's nationwide initiative, Cleveland joins other cities including Portland and Pittsburgh to address community-specific digital access challenges.
Verizon has achieved a significant milestone by being named the most awarded wireless company for network quality by J.D. Power for 26 consecutive testing periods. This includes a record of 13 years in a row as the leader in the Wireless Network Quality Study. The recognition reflects consumer satisfaction, as over 33,000 wireless customers participated in the national survey. Verizon topped all six U.S. regions, reinforcing its position as a leader in technology and communications with revenues of $131.9 billion in 2019.
Verizon Communications (VZ) reported a 4Q 2020 EPS of $1.11, down from $1.23 in 4Q 2019, with an adjusted EPS of $1.21 compared to $1.13 last year. The operating revenue declined 0.2% year-over-year to $34.7 billion, while net income decreased by 9.6% to $4.7 billion. Despite these challenges, wireless service revenue grew by 2.2%, driven by 703,000 retail postpaid net additions. For full-year 2020, EPS was $4.30, down from $4.65 in 2019, but free cash flow increased by 32.4% to $23.6 billion. Looking forward, Verizon anticipates a revenue growth of at least 2% for 2021.
Verizon has launched a new Prepaid Unlimited plan priced at $75/month, featuring 5G Ultra Wideband and savings options. Customers can receive up to $15/month in discounts through Auto Pay and loyalty programs. The plan includes 10GB of Mobile Hotspot data and unlimited talk, text, and data to/from Mexico and Canada. The 5G Ultra Wideband service is now available in parts of 64 cities, with nationwide coverage across more than 2,700 cities.
Verizon Business has launched the Complete Business Bundle, aimed at supporting small businesses in their digital transformation. The bundle includes reliable internet, desk phone services, and enhanced security solutions, complemented by 24/7 tech support. Businesses can enjoy discounts of up to 15% on monthly service charges. Key offerings include LTE Business Internet with no installation hassle, advanced phone features, and business internet security tools. Verizon aims to assist small enterprises adapt in a changing market environment as revealed by their Small Business Recovery Survey.
Verizon ranked highest for overall network performance in the latest RootMetrics report, which included its 5G Nationwide service. This is the 15th consecutive time Verizon has achieved this status. The company earned 300 State RootScore Awards out of 350 opportunities, showcasing its dominance in speed, reliability, and performance, with a median download speed of 40 Mbps. Verizon’s 5G service is available to over 230 million people in more than 2,700 cities. These results affirm Verizon's commitment to network excellence.
Verizon Communications Inc. (NYSE: VZ) is set to report its fourth quarter 2020 earnings on January 26, 2021, with results presented via a webcast at 8:30 a.m. Eastern Time. Access to the earnings news release and financial tables will be available on Verizon's Investor Relations website at 7:00 a.m. on the same day. The company, which generated revenues of $131.9 billion in 2019, is celebrating its 20th anniversary as a leading provider of communication technologies and solutions.
Verizon Business announced today that it will provide managed network services to over 450 HUB offices in the US and Canada, facilitating the company's digital transformation. This network as a service (NaaS) initiative aims to enhance speed, capacity, and flexibility for HUB's 13,000+ users. The collaboration promises reduced operational costs and improved agility and security. Verizon's comprehensive NaaS strategy aligns with current technology advancements to support HUB's ongoing growth and future-proof their operations.
Verizon and Unity have announced a partnership aimed at enhancing digital experiences through the integration of 5G, mobile edge computing (MEC), and real-time 3D technology. This collaboration seeks to develop applications across sectors such as gaming, retail, and enterprise, leveraging Verizon's 5G Ultra Wideband for faster speeds and reduced latency. The partnership is positioned within Verizon's strategy to explore how these technologies can transform various industries, catering to the growing demand for instantaneous content in a real-time economy.
Verizon announces the preorder launch of the Samsung Galaxy S21 5G series starting January 14, 2021. The lineup includes the Galaxy S21 Ultra, S21+, and S21, all optimized for Verizon’s 5G Ultra Wideband and Nationwide networks. Customers can switch to Verizon to get a 128GB Galaxy S21+ 5G for free with eligible trade-in and Unlimited plans. Pricing starts at $39.99/month for the Ultra model. Additionally, promotions include savings on Galaxy S21 models for new and existing customers.
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