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 announced the upcoming introduction of the new 582 area code, which will overlay the existing 814 area code. Starting October 3, 2020, customers will need to dial 10 digits (area code + seven digits) for local calls, transitioning to mandatory 10-digit dialing by April 3, 2021. The existing telephone numbers will remain unchanged, and prices for calls will not increase. Customers are advised to reprogram any devices that currently dial 7-digit numbers to ensure compatibility with the new dialing system. For more information, visit Verizon's media center.
The FAA has granted Skyward, a part of Verizon, a temporary waiver to operate the Percepto Sparrow drone remotely, inspecting critical communications infrastructure near the Big Hollow wildfire in Washington. This waiver, applicable until Sept. 25, allows 24/7 operations without a pilot on site, enhancing safety during emergency inspections. The initiative exemplifies innovative drone technology use amid rising natural disasters, ensuring reliable communications for first responders while minimizing risk to personnel. Verizon continues to monitor wildfires and provide emergency support across affected states.
Verizon Communications (NYSE: VZ) is scheduled to report its third quarter 2020 earnings on October 21, with a webcast presentation starting at 8:30 a.m. ET. Preceding the event, investors can access detailed earnings materials from its Investor Relations website at 7:30 a.m. Verizon, a leading global technology and communications provider, generated revenues of $131.9 billion in 2019. The company emphasizes its commitment to delivering mobility, reliable connectivity, and security across its innovative networks and platforms.
The Samsung Galaxy S20 Fan Edition (FE) 5G UW will debut on Verizon, available for preorder on September 24, 2020. This premium device, priced at $29.16 monthly for 24 months, features 5G Ultra Wideband connectivity and a 6.5-inch 120Hz display. Key specifications include a pro-grade camera with 30X Space Zoom, a 4,500 mAh battery, and four color options. Promotions include up to $699.99 towards a new phone with activation and a $250 gift card for switching. General availability starts October 2, 2020.
Verizon Communications announced two exchange offers for its outstanding notes, targeting specific series maturing between 2021-2024 and 2037-2055. The first offer allows holders of short-dated notes to exchange them for 2030 New Notes, while the second involves long-dated notes for 2056 New Notes. The exchange period ends on October 26, 2020, with an early participation deadline of October 2, 2020. Eligible holders must be qualified institutional buyers or non-U.S. persons. The company aims to streamline its debt maturity profile with these transactions.
Verizon is enhancing its robocall protection for over 75 million customers, successfully reducing spam calls for the tenth consecutive month. The introduction of iOS 14 settings enables automatic blocking of potential fraud calls, allowing customers to view missed calls without action needed. More than 80% of Fios Digital Voice customers receive free Caller ID and Spam Alerts. Verizon's collaboration with other providers is expanding authentication measures through STIR/SHAKEN to combat spoofed calls, while its commitment to enhancing customer protection against scams remains steadfast.
Verizon is hosting the Citizen Verizon Assembly event on September 23, 2020, to address issues in education and student mental health. The assembly will feature celebrities like Yara Shahidi and Gabrielle Union, alongside educators and leaders. Verizon has expanded its Innovative Learning program, increasing data plans from 10GB to 30GB for eligible students and teachers. The initiative aims to bridge the digital divide and support 10 million youth with essential digital skills training. Verizon generated $131.9 billion in revenue in 2019, marking its 20th anniversary.
On September 18, 2020, Verizon Foundation announced a $300,000 donation to support communities affected by wildfires in California, Oregon, and Washington, as well as Hurricane Sally in Alabama and Florida. This includes $200,000 to the American Red Cross for fire relief and $100,000 to Feeding the Gulf Coast. Verizon is providing unlimited calling, texting, and data for affected customers until specific dates in September. Additionally, Verizon's Response Team is active in impacted areas, supporting first responders with resources and coordination.
Verizon Communications Inc. (NYSE: VZ) has announced the pricing of its second Green Bond offering, valued at $1 billion. Proceeds will primarily fund renewable energy purchase agreements to support solar and wind projects. This initiative aligns with Verizon's goals to source 50% of its electricity from renewable sources by 2025 and achieve carbon neutrality by 2035. The offering, closing on Sept 18, 2020, also emphasizes Verizon's commitment to diversity, partnering with minority-owned investment firms as lead underwriters.
Verizon has completed lab trials with Corning and begun trials with Samsung for new 5G mmWave in-building solutions aimed at enhancing indoor coverage. These solutions are expected to provide high throughput, capacity, and reliability in facilities such as hospitals and schools. The commercialization of these solutions will facilitate the creation of private 5G networks, enhancing performance and security for enterprise customers. Verizon plans to launch a commercial product by the end of 2020, further expanding its 5G Ultra Wideband network capabilities.
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