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.
The Met Unframed is a groundbreaking virtual experience launched by The Metropolitan Museum of Art and Verizon on January 12, 2021. This platform allows users to access immersive digital galleries and augmented reality (AR) versions of nearly 50 iconic artworks via Verizon's 5G Ultra Wideband. Available for free for five weeks, it features enhanced interactivity through games and AR technology. Max Hollein, the Museum's Director, emphasized the importance of connecting people with art, while Verizon's Andrew McKechnie highlighted the initiative's potential to democratize art access, fostering education and engagement.
Skyward, a Verizon company, and UPS Flight Forward are collaborating to deliver retail products via drones connected to Verizon's 4G LTE and upcoming 5G networks in The Villages, Florida. UPS CEO Carol B. Tomé emphasized the necessity of 5G for managing multiple drones safely. The partnership seeks to enhance the delivery experience, leveraging the low latency of 5G technology. UPS has successfully conducted over 3,800 drone delivery flights since 2019, with a focus on providing contactless delivery options during the pandemic. This collaboration aims to improve safety and efficiency in drone logistics.
Verizon's CEO, Hans Vestberg, presented at CES 2021, highlighting the transformative impact of 5G technology across various sectors, including sports, education, and live entertainment. Key announcements included the rollout of 5G Ultra Wideband in 28 NFL stadiums by the end of 2021, enhancing fan engagement through immersive experiences. Partnerships with the Smithsonian and The Metropolitan Museum of Art were revealed, aiming to enrich educational content using augmented reality. Additionally, Verizon is collaborating with UPS for connected drone deliveries, showcasing the essential role of 5G in modern logistics.
Verizon is expanding its 5G Home Internet service, reaching parts of six new markets including Arlington, TX, and Miami, FL, by January 2021. The company also offers access to its 5G Ultra Wideband service in Colorado Springs, CO, Columbia, SC, and Knoxville, TN. Currently, Verizon’s Nationwide 5G network covers 230 million people across 2,700 cities. Customers can enjoy up to 12 months of discovery+ streaming service. Additionally, Verizon's Chairman and CEO, Hans Vestberg, will keynote at CES 2021 on January 11.
Verizon has enhanced accessibility to high-speed internet through its Fios Forward program, available to qualifying customers. This initiative offers discounted plans, starting at $19.99 per month, for both new and existing customers eligible for the Lifeline government assistance program. With speeds of up to 940 Mbps and no data caps, Fios Forward is designed to support remote learning and work needs. The program aims to foster digital inclusion and ensure that families have reliable internet access, which is crucial in today's digital age.
Ronan Dunne, executive VP for Verizon (NYSE: VZ), will speak at the Citi 2021 Global TMT West Virtual Conference on January 5 at 9 a.m. ET. Access details will be available on Verizon’s Investor Relations website. Verizon, celebrating its 20th anniversary, generated revenues of $131.9 billion in 2019 and is a leader in technology and communications services. The company provides data, video, and voice solutions on its advanced networks to meet customer demands for reliable connectivity and security.
Verizon has notified Fios customers about potential channel losses due to Hearst Television's demands for substantial rate increases. Hearst's requests could lead to higher monthly bills for customers, prompting Verizon to consider dropping channels to protect consumer interests. The dispute highlights ongoing issues with the retransmission model, which Verizon claims is anti-consumer and unsustainable. If an agreement isn't reached, Fios customers may lose access to popular channels, including local news and sports, starting January 1, 2021.
Verizon is expanding its 'Food for Frontline Workers' program, providing 50,000 meals to healthcare workers and first responders in six U.S. cities, including Milwaukee and Chicago. This initiative follows the successful delivery of over 150,000 meals since April 2020, aimed at supporting those fighting COVID-19 and local restaurants hit by the pandemic. The program reflects Verizon’s commitment to frontline workers while promoting community support. Additional initiatives include free access to BlueJeans Meetings for military personnel and discounts for frontline workers on Verizon plans.
Verizon supports NORAD's Santa tracking program for the 18th consecutive year, adapting to COVID-19 challenges by sharing Apple iPhones with its One Talk technology to create a virtual call center. Limited onsite volunteers will assist remotely while focusing on safety. Calls will start at 6 a.m. on Christmas Eve, with the goal of answering children's questions about Santa. Historically, nearly 1,500 people have participated, fielding over 154,000 calls. Verizon generated revenues of $131.9 billion in 2019, emphasizing its commitment to community support during the holidays.
Verizon Business and Deloitte are collaborating to create advanced 5G and mobile edge computing (MEC) solutions tailored for the manufacturing and retail sectors.
The partnership aims to deploy a smart factory solution capable of identifying quality defects in real-time using computer vision and sensor detection. This innovation seeks to enhance operational efficiency by minimizing manual inspections, reducing waste, and cutting costs.
The initiative aligns with a broader strategy to transform businesses with real-time intelligence and agility through cutting-edge technologies.
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