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 Frontline provided critical communication support to the Sevier County Sheriff's Office and other public safety agencies during the Utah Search and Rescue Conference at Fish Lake. Utilizing a Satellite Picocell on Trailer (SPOT), a Rapid Response Connectivity Unit (RRCU), and other solutions, Verizon ensured connectivity for 450 attendees. Key features of the RRCU include 5G, LEO and MEO satellite options, and a rugged design. This annual event included CPR certifications, drone classes, and interoperability exercises. Sheriff Nathan J. Curtis praised Verizon's contributions for their teamwork and effectiveness. The Verizon Frontline Crisis Response Team offers emergency assistance to government agencies and first responders at no cost, setting up portable cell sites, Wi-Fi hotspots, and more.
Verizon has expanded its network capacity across Alaska, marking its tenth anniversary in the state. The company has added additional spectrum at 89 cell sites, enhancing network capacity by approximately 30 percent. This expansion benefits residents, businesses, and visitors in areas such as Kenai, Soldotna, and Denali Park by providing greater bandwidth and higher data speeds. This effort is part of Verizon's nationwide network transformation, aiming to support more network traffic, deliver better performance, and introduce new products and services. The expansion will also extend the footprint of Verizon's LTE Home Internet service in Alaska.
Verizon Business has been recognized as a Customers' Choice in the 2024 Gartner Peer Insights report for Managed IoT Connectivity Services, Worldwide. This prestigious distinction is based on positive feedback and ratings from 55 verified customers over the last 18 months, ending January 31, 2024. 80% of the reviewers expressed their willingness to recommend Verizon's IoT services. The recognition highlights Verizon's superior execution experience and customer satisfaction in IoT services.
Customer testimonials praised Verizon for its helpful sales, support, and implementation teams, efficient representative responses, and tailored IoT solutions. TJ Fox, SVP and President of Industrial IoT and Automotive at Verizon Business, emphasized the company's commitment to customer success and satisfaction, viewing the accolade as a testament to Verizon's IoT capabilities and customer experience.
Verizon has upgraded its network infrastructure along the Jersey Shore, specifically in Sea Girt, Lavallette, Seaside Park, and Ortley Beach, with further upgrades planned for Brick and Asbury Park. These enhancements aim to handle a significant surge in data usage and improve service reliability for residents, businesses, and first responders. The upgrades feature faster internet connections to support public safety and enhance business operations. According to surveys, these improvements are important for first responders and small businesses, highlighting the need for reliable and high-speed connectivity. Verizon, which generated $134 billion in revenue in 2023, continues to invest in its network to meet the growing digital demands of its customers.
Verizon has enhanced its 5G services in Myrtle Beach and Hilton Head, SC, adding 20 new small cells and boosting 5G capacity to 31 existing sites in Myrtle Beach, and enhancing 8 existing sites with a new 4G/5G cell site in Hilton Head. This expansion aims to improve network performance for beachgoers and residents, supporting activities from social media sharing to remote work.
A survey indicates that 75% of beachgoers use their phones at the beach, with 63% having used them for work. Coverage has been extended to key areas, including Myrtle Beach Airport, Coastal Carolina University, and Palmetto Dunes in Hilton Head.
This initiative is part of Verizon's broader 5G network expansion, reaching over 250 million people and providing advanced services like 5G Business Internet and Verizon Home Internet.
Verizon Communications (NYSE, Nasdaq: VZ) will announce its second-quarter 2024 earnings on July 22. The company will begin its earnings webcast at 8:30 a.m. ET, with presentation materials available online from 7:00 a.m. ET on Verizon's Investor Relations website. Verizon, established in 2000 and headquartered in New York City, is a leading global provider of technology and communications services. In 2023, the company generated $134 billion in revenue, offering data, video, and voice services through its award-winning networks. Further details, including financial tables and earnings commentary, will be included in the webcast.
Verizon and TelevisaUnivision have expanded their partnership to offer new Verizon myPlan and Home Internet customers 12 months of ViX Premium at no extra cost. This offer, starting June 20, provides over $80 in savings and access to 17,000 hours of Spanish-language content, including exclusive soccer coverage such as the CONMEBOL Copa America 2024 and UEFA Euro 2024. Additionally, the partnership includes unique experiences like talent meet-and-greets and ViX Originals screenings for Verizon customers and employees. This collaboration builds on Verizon's efforts to engage the Latino community through various partnerships and services, including international calling plans and recognizing international credit history.
Verizon Connect, a leader in fleet management solutions, has been awarded a Silver Stevie® Award in the transportation category at the 22nd Annual American Business Awards® for 2024. This award is one of three accolades the company has received this year, highlighting its competitive achievements. Verizon Connect was recognized for its innovative solutions in fleet management and asset tracking, including the Video Coaching solution, EV Suitability Tool, and Equipment Asset Tracker. The company aims to digitize services and reduce costs for businesses, with over 220 million driving videos analyzed and 29 patents filed. The company also boasts a marketplace with 40+ integration partners.
On June 10, 2024, Verizon will host a career and networking event at its Fordham Road store in The Bronx as part of its 'Connected by Culture' series.
From 2:30 p.m to 5:30 p.m., attendees can hear from top community leaders, discuss job opportunities with a Verizon recruiter, and get free professional headshots. Leaders from the Latino and Black communities, including Lisa Sorin, Paloma Izquirdo-Hernandez, Rocky Bucano, and Debbie Roman, will participate in the panel.
The event underscores Verizon's commitment to workforce development and digital inclusion, aligning with the Citizen Verizon responsible-business plan. Verizon Skill Forward program will be highlighted, offering free, expert-led online courses for one year.
Verizon, a leading tech and communications provider, generated $134 billion in revenue in 2023. The company aims to foster community growth and technological inclusivity through such initiatives.
Verizon introduces the Gizmo Watch 3 – Adventure, a new smartwatch for kids aged 6 to 11. It features a larger 1.6-inch display with a scratch-resistant coating, real-time location tracking, boundary notifications, an SOS button, and voice/text communication capabilities. Other highlights include fitness and learning tools, a robust design, and a Snapdragon Wear 4100 platform for enhanced performance. Available from June 20, the watch costs $3.61 per month over 36 months or $129.99 retail. A -time offer allows buyers to get a second watch for $85 off with a new line.
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