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 is investing $43 million to bridge the digital divide in New York City schools as distance learning continues due to COVID-19. The initiative includes donating 20,000 mobile hotspots to students lacking internet access and providing grants to nonprofits for STEM education. This year, 15 Title I middle schools joined Verizon Innovative Learning, receiving devices, internet access, and teacher training. These efforts align with Verizon's goal of promoting digital inclusion through the Citizen Verizon plan, which aims to empower youth and provide resources for under-resourced communities.
On December 1, 2020, Kyle Malady, Chief Technology Officer of Verizon (NYSE: VZ), will speak at the virtual Wells Fargo TMT Summit at 9:20 a.m. ET. The event will be accessible via webcast at Verizon’s Investor Relations website. Celebrating its 20th anniversary, Verizon has established itself as a global leader in technology and communications, generating $131.9 billion in revenue in 2019. The company offers a range of data, video, and voice services, ensuring reliable network connectivity and security for its customers.
Verizon announces its Black Friday deals starting November 26, offering significant discounts on smartphones, smartwatches, and tablets. Customers can save up to $1,350 on Android phones with a trade-in and select plans, plus enjoy bundled streaming services. Special offers include $50 off Samsung Galaxy Watches and discounted tablets, such as the Samsung Tab S5e for $199.99. Verizon emphasizes safety with options for curbside or in-store pickups, as well as contactless shopping experiences. For the full range of deals, visit verizon.com/shop.
Verizon has expanded its 5G Ultra Wideband service to Akron, OH, and Nashville, TN, now available in 57 cities. This service promises speeds up to 4Gbps, enhancing remote collaboration and streaming experiences. By the end of 2020, Verizon aims to cover 60 cities. The 5G Ultra Wideband, built on mmWave spectrum, offers significantly higher data throughput than 4G, with expectations to handle 100 times current data volumes. Additionally, customers can access 5G Nationwide, utilizing Dynamic Spectrum Sharing for consistent 5G connectivity.
BuzzFeed has acquired HuffPost, expanding its media network alongside brands like BuzzFeed News and Tasty. The deal includes a strategic partnership with Verizon Media, which will provide new revenue opportunities through content syndication and innovative advertising products. Verizon Media has taken a minority stake in BuzzFeed, emphasizing their commitment to enhancing HuffPost's brand and traffic through effective monetization strategies. This acquisition is expected to significantly increase user engagement and create a powerful media ecosystem.
Verizon Business has launched the Global Enterprise 5G Fleet Swap program, allowing companies to trade in their smartphones for the new iPhone 12 lineup. Major clients, including General Motors and Honeywell, will implement 5G Ultra Wideband in their facilities to enhance digital transformation. GM is deploying this network at its Factory ZERO EV plant, while Honeywell's new headquarters will showcase products utilizing 5G. The deployment is expected to advance operations and improve efficiency across various sectors.
Verizon is launching early Black Friday promotions, offering significant discounts on 5G smartphones and entertainment services. Customers can receive up to $1,350 off select 5G phones with trade-ins and specific Unlimited plans. New Fios customers can also benefit from 12 months of complimentary PlayStation Plus and Now subscriptions. Additionally, Verizon Prepaid users can earn up to $110 in credits. These initiatives aim to enhance customer experience during the holiday season by showcasing Verizon's 5G capabilities and appealing entertainment value.
Verizon has launched the #ACallForKindness campaign in partnership with Capital One and other retailers to recognize and support retail workers during this challenging year. The campaign aims to remind customers and employees that kindness is essential, even behind masks. Verizon emphasizes treating customers like family, encouraging frontline workers to share their stories using the campaign hashtag. The initiative marks Verizon's commitment to its community and the human connections that define its service, coinciding with the debut of the documentary 'The Antidote' on Amazon Prime.
Verizon is amplifying its support for remote learning amid rising Covid-19 cases by expanding the Verizon Innovative Learning initiative. This program targets Title I schools, providing both student connectivity and free professional development for educators nationwide. New offerings include the Teacher Training Pathways platform, offering courses on remote and hybrid learning. Since 2012, Verizon has invested over $535M in digital inclusion, reaching 450,000 students. The goal is to empower 10 million youths with essential digital skills by 2030.
Verizon and Newlab have announced outcomes from the inaugural cohort of the 5G Studio, launched to explore innovative applications of 5G technology. The studio, based in Newlab's Brooklyn headquarters, leverages 5G Ultra Wideband and mobile edge compute (MEC) to empower startups in addressing industry challenges. Each participating company showcased unique solutions. Prominent startups included Exyn Technologies, Ghost Robotics, and Phantom Auto, highlighting advancements in robotics, teleoperation, and healthcare services, underlining the 5G Studio's role in fostering innovation.
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