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.
Speed of Thought is a documentary directed by Mila Aung-Thwin that examines how Verizon's 5G Ultra Wideband technology is revolutionizing sectors like healthcare, public safety, education, and transportation. Premiering at TechCrunch Disrupt and available on streaming platforms, the film showcases innovators tackling significant challenges with advanced connectivity. Notable features include a robotic medical device for remote procedures and augmented reality solutions for firefighters and education. Industry leaders emphasize the transformative potential of 5G for society's future.
Verizon Media launched OTT Smart Auction, a solution for over-the-top (OTT) publishers, enhancing ad inventory monetization. This new server-to-server integration allows programmatic demand to compete in real-time with reserved demand directly in a publisher's ad server. The OTT ad market is expected to double in three years, but traditional methods hinder efficiency. Key benefits include improved transparency in auction dynamics, increased revenue through optimized bidding, and a unified platform for both publishers and advertisers. The integration leverages Prebid Server's capabilities to support advanced ad experiences.
On September 14, 2020, Verizon launched Verizon Latino, an Apple Music room featuring Latin music for Hispanic Heritage Month. Customers can access Apple Music and enjoy exclusive content. Additionally, Verizon is collaborating with Univision for a live concert featuring Bad Bunny on September 20. The company emphasizes diversity with initiatives supporting the Latinx community, including a month-long program led by its employee group, SOMOS Verizon, and partnerships with media organizations for content highlighting Hispanic achievements.
Verizon has partnered with The Paley Center to gain exclusive streaming rights for its 2020/2021 events and programs. This collaboration establishes Verizon as the official sponsor for various festivals and initiatives, including a tribute to Hispanic achievements in television. Verizon Media, reaching nearly 900 million unique viewers monthly, will livestream programs such as PaleyFest and educational workshops aimed at promoting diversity and inclusion. Verizon's commitment to enhancing conversations around industry issues is emphasized through this strategic engagement.
Verizon Acquires Tracfone
NEW YORK, Sept. 14, 2020 - Verizon (NYSE: VZ) announced its acquisition of Tracfone for $6.25 billion, enhancing its value segment offerings within the wireless market. Serving approximately 21 million subscribers across 90,000 retail locations, Tracfone has been a longtime partner of Verizon. The acquisition aims to improve customer experience and expand market opportunities, with a focus on 4G LTE and 5G technology. Verizon expects the transaction to be accretive in its first year post-closing and anticipates it will not significantly impact capital expenditures.
Verizon Chairman and CEO Hans Vestberg is set to speak at the Goldman Sachs 29th Annual Communacopia Conference on September 15, 2020, at 8:00 a.m. ET. The event will be available via webcast, with details provided on Verizon's Investor Relations website. Founded on June 30, 2000, Verizon has emerged as a leading global provider of technology and communication services, celebrating 20 years of service. In 2019, the company generated revenues of $131.9 billion, offering data, video, and voice services on its award-winning networks.
Verizon is offering unlimited calling, texting, and data from September 10 to 16 for consumer and small business customers affected by wildfires in parts of Oregon. This initiative targets specific zip codes in Clackamas, Douglas, Jackson, Lane, Lincoln, Linn, Marion, and Washington Counties. The company’s Response Team is ready 24/7 to assist first responders with portable cell sites and emergency equipment. Customers do not need to take any action to receive these benefits, and store hours may vary due to evacuations.
Verizon has expanded its national Distance Learning Program to provide affordable Internet access for up to 1.7 million students in Oregon and Washington. This initiative, part of a broader program reaching over 38 million students across 40 states, allows public school districts to purchase discounted 4G LTE Internet services and security solutions. Underlining the importance of connectivity during the Covid-19 pandemic, Verizon aims to bridge the digital divide and enhance educational access. The partnership with the Oregon Department of Education is a critical step in ensuring students remain connected to their education.
Verizon and Inseego have launched the Inseego MiFi M2100 5G UW mobile hotspot, designed to provide superior connectivity across Verizon's 5G Ultra Wideband and 4G LTE networks. It supports up to 30 devices with Wi-Fi 6 technology for enhanced data throughput. Retailing at $399.99 or $16.66/month for 24 months, the device features a 3500mAh battery for all-day use and enterprise-grade security. The MiFi M2100 caters to various sectors including telemedicine, gaming, and remote work, promising faster speeds and reliable connections.
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