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 its readiness for potential Public Safety Power Shutoff (PSPS) events in Hawaii as early as this week. These events are initiated by power providers like Hawaii Electric (HECO) to mitigate wildfire risks. Verizon has backup power resources to maintain network operations during power outages, ensuring customers stay connected. The company's retail team is prepared to assist customers with devices, accessories, and connectivity solutions. They also recommend measures like keeping devices charged, having backup power sources, and using emergency preparedness checklists. Verizon, a global technology and communications leader, reported $134 billion in revenue for 2023.
Verizon Communications Inc. has elected Caroline A. Litchfield, Executive Vice President and Chief Financial Officer of Merck, to its Board of Directors, effective October 1, 2024. Litchfield's extensive 34-year career at Merck includes roles such as EVP and CFO since 2021, SVP and Treasurer (2019-2021), and finance leader for Human Health (2014-2018). She brings significant expertise in financial operations, strategic planning, and mergers and acquisitions. This addition brings Verizon's board to 11 members. Verizon, a leader in network connectivity and security, reported $134 billion in revenue in 2023.
Verizon announced new customer-focused programs and benefits aimed at enhancing choice and flexibility. A key highlight is the launch of 'myHome,' which extends the customizable mobile plan 'myPlan' to home internet services, offering content perks from top streaming services at a low cost. The company also introduced a guaranteed phone trade-in program for all mobility customers, regardless of the phone's condition. Additionally, Verizon unveiled 'Verizon Access,' a platform providing exclusive access to events like NFL games and concerts. For business customers, Verizon Business launched a smartphone management solution. These initiatives coincide with a brand refresh featuring a new logo, color schemes, and marketing campaigns.
Verizon has launched myHome, a new offering designed to simplify home internet and entertainment services. myHome provides customers with flexible, customizable options for internet and entertainment, bundling services like Fios, 5G Home, and LTE Home internet plans with streaming services such as Netflix, Disney+, Hulu, and YouTube TV. Customers can also choose from various connected home perks and manage all options through the My Verizon app. The service includes price guarantees for up to four years and no hidden fees. myHome is available to over 67 million homes in the U.S., with plans starting at $35/month. Qualified low-income customers can get plans starting at $20/month. The initiative builds on the success of Verizon’s myPlan for mobile customers, offering significant savings for those who bundle home and mobile services.
Verizon Business and Monarch Tractor have partnered to promote sustainable farming through Verizon's network connectivity. Monarch Tractor's fully electric, autonomous MK-V tractors, enhanced with Verizon's technology, offer seamless connectivity in remote agricultural areas. This partnership aims to drive innovation and efficiency in farming, providing real-time visibility and alerts via the Wingspan Ag Intelligence platform. The collaboration highlights the transformative potential of technology in agriculture, enabling data-driven decision-making and significant cost savings for farmers.
Verizon has launched an innovative portable private network solution called “Network in a Box,” aimed at providing secure, reliable connectivity for large sports and entertainment events. This technology was successfully deployed at the UFL Championship game in St. Louis and will be used in upcoming NFL games in Sao Paulo, London, and Munich. The portable network supports critical operations like event production, security, and fan experiences by operating independently from public data traffic. It can accommodate up to 50 cellular radios and use either shared or licensed spectrum. The solution also ensures high-bandwidth performance, low latency, and enhanced security compared to WiFi. Verizon's managed services include network monitoring, maintenance, and support to help businesses improve efficiency and profitability.
Verizon Frontline will demonstrate its advanced communications solutions at AFCEA's TechNet Cyber event from June 25-27, 2024, in Baltimore, MD. The event gathers government leaders to discuss global security challenges and digital operations. Verizon Frontline's head, David Rouse, highlights the company's role as a digital transformation partner for the federal government. A key exhibit will be the Tactical Humanitarian Operations Response (THOR) platform, designed for public sector partners such as the Department of Defense and first responders. THOR offers mobile, private 5G, satellite, commercial, and onboard drone capabilities, operable remotely via tablet. Verizon Frontline's technology has been developed over three decades in collaboration with public safety officials. Verizon Communications generated $134 billion in revenue in 2023 and is a global leader in technology and communications services.
On June 25, Verizon will host its “Connected by Culture” event in Boston, focusing on STEM education and Latino community support. Held from 3 to 6 p.m. at Downtown Crossing, the event will celebrate Verizon's $61,000 donation to Latino-serving organizations. Attendees will enjoy networking opportunities, free headshots, and discussions with Verizon recruiters. A STEM speaker series starting at 4:30 p.m. will feature leaders like Santi Garces and Karen Chacón.
Verizon aims to empower Latino youth and diversify the STEM field. The $61,000 donation supports nine organizations including Latino STEM Alliance and Sociedad Latina. These efforts align with Verizon's commitment to workforce development through initiatives like the Skill Forward program, offering free skills-building courses.
Verizon is hosting the #SorteoALaFinal sweepstakes offering soccer fans a chance to win a VIP experience at the final match of an international soccer tournament in Miami. The sweepstakes, running from June 20 to June 27, 2024, is open to US residents aged 18 and above. Four grand prize winners will receive round-trip airfare, three nights hotel stay, two match tickets, a $1,000 gift card, and a tour of Univision Studios. Verizon is also offering new myPlan and Home Internet customers 12 months of ViX Premium, saving over $80, providing access to extensive soccer and Spanish-language content.
Verizon Business has unveiled Verizon Business Complete, a comprehensive end-to-end smartphone management solution targeting midsize and enterprise businesses. Available for a predictable monthly fee, the service includes shipping, setup, replacement, and recycling of smartphones, alongside an unlimited wireless plan and 24/7 support. The move aims to address challenges such as the shift towards employer-provided devices, the high cost of device management, and the increased pressure on IT teams. Verizon Business Complete, running on Verizon's reliable 5G network, aims to streamline smartphone management, enabling IT departments to focus on digital transformation. The service is currently available on a basis and will expand later this summer.
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