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 Inc. (NYSE: VZ) will report its fourth quarter 2020 earnings on January 26, 2021. The webcast is scheduled to begin at 8:30 a.m. Eastern Time, with access details and financial materials available earlier at 7:00 a.m. on the Investor Relations website. Verizon, celebrating its 20th anniversary, generated revenues of $131.9 billion in 2019, offering data, video, and voice services globally. The announcement marks a crucial period as investors await insights into the company's financial performance.
Verizon Business announced the launch of IoT Managed Services aimed at assisting customers in deploying and managing IoT solutions. This service caters to companies lacking the necessary staff and resources. With various service levels, it offers support from cellular connectivity to complete lifecycle management. Verizon's dedicated IoT specialists will help businesses overcome the challenges associated with IoT implementation, promoting efficiency in asset monitoring and management.
The service aims to set a foundation for future technology advancements, including integration with Verizon's 5G network.
Verizon Business has launched On Site LTE, a secure, private wireless network for enterprise customers in the US. This offering aims to enhance digital transformation and operational efficiency for businesses. The On Site LTE platform supports critical applications and services, providing low-latency connectivity and reliability for various digital initiatives, including robotics and AI. Additionally, it is designed to pave the way for future 5G innovations.
Verizon expands its 5G service, now reaching an additional 24 million customers in Central Texas, Tulsa, Upstate New York, and New England, totaling 230 million people across over 2,700 cities. This expansion includes access to 5G Ultra Wideband in parts of Tampa, St. Petersburg, Albuquerque, and Durham, enhancing performance for both individual and enterprise customers. Verizon's 5G offerings leverage advanced technologies like Dynamic Spectrum Sharing and Carrier Aggregation, promising peak speeds of 4 Gbps and improved cloud-native network capabilities for enhanced service delivery.
Verizon Media and Entain have announced a global alliance to innovate in interactive sports and entertainment. This partnership will create a unique virtual reality experience for live sports that integrates data, social interaction, and gaming. With the rise of 5G and immersive technologies, they aim to enhance consumer engagement in sports betting and live events. New research indicates significant consumer demand for interactive experiences, particularly among men aged 25-39. This initiative builds on existing collaborations, including BetMGM within Yahoo Sports, to strengthen their market presence.
On December 16, 2020, Verizon Business announced a strategic multi-year partnership with Walgreens Boots Alliance to enhance customer experiences at over 9,000 retail locations. The initiative involves deploying Verizon's Network as a Service (NaaS), integrating LTE, 5G, and Verizon Media. This collaboration is designed to support Walgreens' digital transformation efforts and future technological innovations. Verizon's NaaS aims to provide on-demand solutions that accelerate digital changes, enabling retailers to adapt quickly to evolving customer needs.
Verizon and Corning have launched the first commercial indoor 5G cell sites, transitioning from proof of concept to scalable solutions. This deployment aims to extend the reach of Verizon's 5G Ultra Wideband network and enable private 5G networks for enterprises. WeWork has signed a contract for installations in ten US locations, enhancing flexible work environments. The indoor cell sites will provide high-speed connectivity, supporting digital transformation and improving operational efficiency for businesses.
Verizon Business has partnered with Fiserv to offer the Clover point-of-sale platform to its customers. This collaboration allows small businesses to access touchless payment solutions, improving service efficiency amidst COVID-19 regulations. Verizon customers can utilize Clover Flex devices embedded with Verizon SIM cards for reliable payment processing. Clover has over one million devices globally and processes more than $130 billion annually. This partnership reflects Verizon's commitment to empower small businesses with modern technology.
Verizon CFO Matt Ellis will speak at the Barclays Global TMT Conference on December 10, 2020, at 8 a.m. ET. His presentation will be available via webcast on Verizon’s Investor Relations website. Established on June 30, 2000, Verizon is a leading provider of technology and communications services, generating $131.9 billion in revenue in 2019. Celebrating 20 years in operation, Verizon offers solutions in data, video, and voice, emphasizing mobility and reliable network connectivity. For more details, visit Verizon's Online Media Center.
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