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 expands its 5G Home Internet service to Minneapolis and St. Paul, allowing customers in eight cities to access high-speed wireless broadband. The service, launching on October 1, features new hardware with easy self-setup via augmented reality, capable of peak speeds up to 1 Gbps. New customers can enjoy perks such as a free year of Disney+, a month of YouTube TV, and an Amazon Smart Home Bundle. Pricing is $50 per month for Verizon customers and $70 for non-customers, with no hidden fees or annual contracts.
On September 29, 2020, Hello Alice, in partnership with Verizon, relaunched the Business for All initiative aimed at supporting small business owners across the U.S. This program offers grants between $10,000 and $50,000, along with mentorship opportunities, specifically targeting the New Majority, which includes underrepresented groups. In light of COVID-19, Hello Alice has already distributed over $2 million in emergency grants. The initiative also promotes small business issues ahead of the 2020 presidential election, engaging with entrepreneurs to ensure their concerns are heard.
Verizon has secured a multi-year partnership as the Official Wireless Services Partner of the NHL in the U.S., focusing on 5G and Mobile Edge Computing (MEC) technologies. This deal allows Verizon to enhance the fan experience in NHL arenas through 5G installations and innovative applications. The partnership includes opportunities for in-venue real-time interactions, game highlights, and player stats. Verizon's Chief Media Officer emphasized the potential for immersive experiences, while the NHL aims to leverage 5G for improved content consumption and engagement. The collaboration is a significant step in sports technology innovation.
BASKING RIDGE, N.J., Sept. 24, 2020 - BlueJeans by Verizon introduced enhancements for the Microsoft-certified BlueJeans Gateway for Microsoft Teams. These updates cater to the growing needs of a hybrid workforce, allowing organizations to transition back to the office seamlessly. Key features include support for large events, localized IVR for multiple languages, a 7x7 gallery view, improved management tools, and simplified deployment online. The solution is already in use by over 400 global organizations, facilitating a unified meeting experience across various work environments.
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.
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