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 Business has released its seventh annual Retail Trends Report, highlighting significant shifts in consumer behavior during the holiday shopping season. The report indicates a 82% increase in online data traffic for top retailers compared to last year. Despite a 20% decrease in foot traffic at U.S. malls, movement is up 59% from pandemic lows. Additionally, usage on payment sites has surged by 28%. Verizon emphasizes the importance of adopting innovative technologies, like AR and VR, to enhance customer experiences in retail.
Verizon Public Sector has updated its Verizon Intelligent Video, enhancing its video surveillance capabilities for public safety and security. This system is used by cities and organizations for real-time data analysis to improve situational awareness. The update includes integration with BriefCam for enhanced analytics, allowing quick filtering of objects and behaviors. With $131.9 billion in revenues for 2019, Verizon continues to lead in technology and communication.
Verizon Communications announced the redemption of $565.7 million of 3.45% Notes due 2021 on December 18, 2020. The redemption price will be the greater of 100% of the principal or the present value of remaining scheduled payments, plus accrued interest. This move is part of Verizon's financial management strategy, allowing it to optimize its debt obligations.
Investors are advised to consider associated risks outlined in Verizon’s SEC filings. For further inquiries, U.S. Bank National Association is the designated paying agent.
Verizon, in partnership with Snap Inc., launched the first-ever 5G Landmarker Lens, providing an augmented reality experience exclusively for Verizon 5G Ultra Wideband customers. The lens features a musical performance by Grammy-nominated band Black Pumas at the New York Public Library, utilizing 5G technology for a unique user experience. This performance marks the first full-length song used in a Snapchat AR Lens and was produced in Verizon's 5G studio. A separate 4G Lens will be available to all Snapchat users, highlighting Verizon's commitment to innovative customer experiences.
Verizon Business is launching a 5G Ultra Wideband service at an Innovation Hub in Lake Nona, Orlando, FL. This initiative aims to allow innovators to test 5G applications across various sectors, including healthcare, autonomous mobility, and education. Currently, a trial is being conducted with Beep to enhance the safety of autonomous shuttles using Cellular Vehicle-To-Everything (C-V2X) technology. Verizon's broader strategy involves partnerships to explore disruptive 5G technologies across multiple industries.
Verizon has launched the next-gen Stream TV, an Android TV-powered streaming device designed to enhance on-demand entertainment accessibility. The device boasts an intuitive user interface, allowing users to easily discover popular shows and movies from various platforms including Disney+, Netflix, and Hulu. Stream TV supports 4K Ultra HD and HDR formats for optimal viewing. Priced at $69.99, it is available for purchase immediately, with updates planned for existing Stream TV devices. Additionally, new Fios or 5G Home customers may receive a Stream TV at no extra cost.
Ronan Dunne, executive vice president of Verizon, will present at the virtual Morgan Stanley European Technology, Media and Telecom Conference on November 18, 2020, at 9:30 a.m. ET. The webcast will be accessible through Verizon’s Investor Relations website. Celebrating its 20th anniversary, Verizon has established itself as a leading provider of technology and communication services, generating $131.9 billion in revenue in 2019. The company is headquartered in New York City, offering a range of services including data, video, and voice solutions.
Verizon Business will host a virtual event on November 19, 2020, at 1 PM ET, unveiling a special offer for enterprise customers on the iPhone 12 lineup and new 5G options. Keynote speakers include Tami Erwin, CEO of Verizon Business, and Susan Prescott, VP at Apple. The event will showcase how enterprises can leverage the iPhone 12 and Verizon’s 5G Ultra Wideband to enhance solutions in industries like healthcare and manufacturing. Registration is required to attend this event.
Verizon and AWS have expanded their 5G MEC initiative by adding Dallas and Miami, increasing the total number of supported cities to seven, with plans for three more by year-end. This collaboration allows developers to harness ultra-low latency for applications, enhancing areas like healthcare and transportation. The 5G Edge and AWS Wavelength partnership empowers innovators to create vital applications for autonomous vehicles, with companies like Renovo and Savari conducting tests to improve safety and efficiency. Verizon's 5G Ultra Wideband network promises substantial throughput and connectivity potential.
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