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 (NYSE: VZ) will conduct a virtual sellside analyst meeting on November 11, 2020, starting at 4:30 p.m. ET. The event will showcase presentations about Verizon's strategy, network leadership, and business updates, featuring Chairman and CEO Hans Vestberg and senior executives. Interested parties can access the webcast and presentation materials via Verizon’s Investor Relations website. Established on June 30, 2000, Verizon reported revenues of $131.9 billion in 2019 and continues to be a leader in technology, communications, and entertainment services.
On November 10, 2020, Verizon announced the launch of Business Internet Secure, targeting small businesses to enhance their cybersecurity measures. This initiative comes in response to the findings of the 2020 Verizon Data Breach Investigations Report, highlighting that 28% of data breach victims were small businesses last year. The bundle includes security solutions from Cisco and BlackBerry, including Internet Security powered by Cisco Umbrella and BlackBerry Smart Antivirus.
Verizon has announced an increase in its tree planting commitment to 20 million trees by 2030, doubling its previous goal. The company has previously planted over three million trees since 2009. As part of its sustainability initiatives, Verizon also unveiled its most eco-friendly retail bag, made from 90% post-consumer waste and fully recyclable. These efforts are part of Citizen Verizon, which aims for carbon neutrality in operations by 2035 and includes plans for sourcing 50% of its electricity from renewable sources by 2025.
Verizon Media and Walmart have launched their 2020 holiday campaign, “30 Days of Savings,” offering consumers access to hundreds of Walmart products through new commerce content. This initiative expands on the successful 2019 campaign, promoting efficient holiday shopping with gift guides and interactive content. The collaboration aims to help shoppers save time and money during the holiday season, with features such as custom toolkits and a dedicated shopping hub. The campaign is designed to cater to changing consumer behaviors during economically challenging times.
Verizon has announced the availability of the iPhone 12 Pro Max and iPhone 12 mini, both compatible with its 5G Ultra Wideband and Nationwide networks. These models will be available for order starting November 6, with retail availability from November 13. The iPhone 12 Pro Max features a 6.7-inch display and advanced camera capabilities, while the iPhone 12 mini is hailed as the smallest 5G smartphone. Both models support the latest Verizon Unlimited plans, providing users with enhanced data experiences, including access to applications from major partners like the NFL and Riot Games.
Verizon is committed to honoring military families with special offers, including 4 lines for $30/month on Start Unlimited and discounts on select Samsung smartphones. To further support veterans, Verizon will donate $250,000 to the Wounded Warrior Project. These promotions are available to active military members, veterans, and their families starting October 29. Verizon will also participate in the NYC Veterans Day Parade on November 11 to honor those who serve. More details are available at verizon.com/military.
Verizon is partnering with TechUnited to support five small businesses in Hoboken, NJ, through the '5G Impact Challenge.' Each business will receive 5G hotspots, Samsung smartphones, and a tailored solutions package. This initiative aims to address challenges posed by the pandemic by enhancing customer engagement through innovative 5G technology. Businesses like Elysian Café and SOHO Flower & Garden will benefit from digitization and immersive experiences, helping them recover and adapt to the new retail landscape impacted by COVID-19.
Verizon has launched the Full Transparency initiative, a blockchain-based product aimed at enhancing corporate accountability in news releases. This open-source technology, developed in collaboration with Huge, MadNetwork, and AdLedger, allows for a verified record of changes to public communications, addressing the growing demand for transparency in corporate messaging. With almost 60% of consumers distrusting media sources, this initiative aims to restore credibility by employing cryptographic principles to secure news releases and enable real-time tracking of amendments.
Verizon has partnered with World of Warships, providing its mobile and Fios customers with $75 in in-game content, including premium account status and two premium warships. Starting November 9, Verizon will partake in World of Warships Virtual Fleet Week, featuring gaming events and support for veterans. Additionally, Verizon will host two gaming tournaments on December 4-5, with a total prize pool of $30,000. The promotion includes exclusive gaming perks through Verizon Up, enhancing customer engagement and brand visibility.
Verizon 5G Home Internet is expanding to parts of Atlanta, Dallas, Denver, and San Jose starting November 5, 2020. The service is now available in 12 markets, promising peak download speeds of up to 1 Gbps and typical speeds of 300 Mbps. New customers enjoy a free month of YouTube TV and an Amazon Smart Home Bundle. The service costs $50 monthly for Verizon customers and $70 for non-Verizon users, with no hidden fees or contracts. This move highlights Verizon's commitment to enhancing home connectivity during challenging times.
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