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 is hosting a Small Business Webinar on October 27th featuring entrepreneur and Shark Tank star Lori Greiner, co-hosted by Ramon Ray. The series aims to support small businesses during the pandemic, having attracted over 32,000 views since its launch in April. Attendees can pre-register and ask questions during the event. Verizon's initiatives include the Comeback Coach, a resource hub, and a $7.5 million grant program supporting small businesses through the Local Initiatives Support Corporation.
Verizon Communications reported strong Q3 2020 results, showing resilience amid challenges. The company achieved EPS of $1.05, down from $1.25 in Q3 2019, with adjusted EPS holding steady at $1.25. Operating revenue declined by 4.1% year-over-year to $31.5 billion. However, cash flow from operations surged to $32.5 billion, increasing by $5.7 billion year-over-year. Wireless service revenue grew slightly by 0.3% to $16.4 billion, highlighted by significant Fios Internet net additions, the highest since Q4 2014. The outlook includes adjusted EPS growth of 0% to 2% for the full year.
Verizon, along with Ericsson and Qualcomm, has achieved a milestone in 5G technology by demonstrating peak speeds of 5.06 Gbps using carrier aggregation on mmWave spectrum. This demonstration involved combining multiple channels of spectrum to enhance data efficiency. Verizon's Vice President Brian Mecum emphasized the company's commitment to innovation in 5G, with potential speeds reaching up to 10 Gbps and latency under 5 milliseconds. This collaboration showcases the advancements in mobile technology aimed at enhancing customer experience.
Verizon has expanded its partnership with Niantic, the developer of Pokémon GO, enhancing mobile gaming for Verizon wireless customers. The collaboration aims to create immersive AR experiences using the 5G network. Customers can look forward to exclusive events and rewards, including a Pokémon GO Special Weekend on November 7, featuring unique Pokémon and in-game bonuses. Verizon emphasizes the potential of its 5G Ultra Wideband Network to transform gaming experiences, leading the industry with innovative partnerships and technology.
Verizon Communications Inc. (NYSE: VZ) will announce its third quarter 2020 earnings on October 21, 2020, at 8:30 a.m. ET. Access to the earnings news release and financial tables will be available at 7:30 a.m. on the company’s Investor Relations website. Verizon, a global leader in technology and communications, reported revenues of $131.9 billion in 2019. Celebrating two decades in the industry, the company offers a wide range of services on its advanced networks, focusing on customer connectivity and security.
Verizon has announced its international private 5G platform, developed in partnership with Nokia, aimed at global enterprises in Europe and the Asia-Pacific region. This initiative allows businesses to deploy dedicated 5G networks on-site, offering ultra-low latency and customized solutions without relying on public networks. The offering supports digital transformation for industries requiring reliable wireless connectivity. Additionally, Verizon continues to invest in its 5G strategy, marking a significant step in its global 5G vision.
Verizon and Microsoft have announced a collaboration to enhance enterprise applications using 5G Edge and Azure. This partnership aims to provide ultra-low latency connections, enabling real-time data analysis in various sectors including logistics, healthcare, and manufacturing. Ice Mobility is already utilizing these technologies for improved quality control, potentially saving 15-30% in processing time. Verizon's 5G Ultra Wideband network offers speeds at least 25 times faster than 4G, powering industries with efficient and secure solutions.
Verizon Communications announced its agreement to acquire specific assets and subscribers from Bluegrass Cellular, expanding its presence in central Kentucky. This acquisition involves 210,000 customers across designated rural service areas. Verizon aims to enhance its service offerings with a focus on reliable wireless connectivity. The deal is pending FCC approval and is expected to finalize by early 2021. Verizon reported $131.9 billion in revenues for 2019, bolstering its position as a leading provider in technology and communications.
The Next Generation Telephony Project showcases Verizon's continued partnership with the Social Security Administration (SSA) to enhance communication services for over 62,000 employees across 1,300 locations.
This project will modernize the SSA’s Unified Communication (UC) and Contact Center (CC) capabilities, allowing for improved customer service through a consolidated platform.
Verizon and Avaya will provide operational support, facilitating analysis and enhancing citizen engagement.
BlueJeans by Verizon has been named a Visionary in the 2020 Magic Quadrant for Meeting Solutions by Gartner for the fourth consecutive year, evaluated on its completeness of vision and ability to execute. The shift towards remote work due to COVID-19 has led to an increase in demand for video conferencing solutions. BlueJeans reported a 2.7x increase in total meeting minutes and achieved profitability, post-acquisition by Verizon. It also holds a 4.6/5 rating from Gartner Peer Insights, indicating strong customer satisfaction.
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