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's network remains operational amid the aftermath of Hurricane Laura, providing vital services to affected customers in Louisiana and Texas. While some sites are down, backup generators are in place to maintain connectivity. From August 27 to September 1, Verizon is offering unlimited calls, texts, and data to consumers and small businesses in nine parishes. The company is actively collaborating with emergency management teams and deploying a response team to assist in recovery efforts. Retail hours may be reduced due to the storm.
Verizon customers can now support injured veterans via Wounded Warrior Project (WWP) through an 'Add Donation' option when paying their bills online or via the My Verizon app, effective August 27, 2020. Customers can choose to round up their bill or donate amounts ranging from $1 to $100. This initiative is powered by Round It Up America. Verizon has a longstanding commitment to veterans and has been named the #1 Military Friendly company for three consecutive years. The program aims to assist in the care of veterans recovering from service.
Verizon is offering unlimited calling, texting, and data to consumer and small business customers in Louisiana and Texas who are affected by Hurricane Laura. This service will be available from August 26 through September 1, 2020. The impacted areas include several parishes in Louisiana and counties in Texas. Verizon's Response team is on standby 24/7 to support first responders with charging stations and special equipment. Retail store hours may be affected due to the storm. Verizon continues to prioritize connectivity for those preparing for and responding to the hurricane.
Verizon Communications has announced four new long-term renewable energy purchase agreements (REPAs) totaling over 450 MW of renewable capacity, advancing its goal to achieve carbon neutrality in operations by 2035. The agreements include two with Brookfield Renewable for 160 MW from repowered wind facilities in New York, expected operational by 2021, and two with First Solar for 296 MW from solar facilities, projected to be operational by late 2022. These initiatives align with Verizon's commitment to source renewable energy for 50% of its total electricity consumption by 2025.
Verizon has released its Green Bond Report, detailing the allocation of nearly $1 billion raised through its first green bond issuance. The report indicates investments of $637 million in renewable energy, $319 million in green buildings, $37 million for energy efficiency, and $1 million for biodiversity and conservation. Verizon was the first U.S. telecom to issue a green bond in February 2019. The report is accessible on their investor relations site, highlighting Verizon's commitment to sustainability as it celebrates 20 years of operation.
Verizon is enhancing support for remote learning through partnerships with school districts, providing discounted connectivity to over 36 million students across 38 states. The initiatives include the expansion of the Verizon Innovative Learning program to 254 middle schools and pilot programs in 10 high schools. Additionally, Verizon collaborates with The New York Times and Discovery Education to offer educational resources. The company aims to bridge the digital divide and prepare students for a modern economy, with a target of reaching 10 million young individuals.
Verizon has achieved a significant milestone by completing the world’s first end-to-end fully virtualized 5G data session in a live network. This successful demonstration positions Verizon to enhance mobile edge computing and network slicing, allowing for increased responsiveness to customer latency and computing demands.
This advanced technology leverages virtualized Radio Access Network (RAN) architecture, which enables greater flexibility, scalability, and cost efficiency. With this development, Verizon continues to lead in virtualization, setting the stage for groundbreaking applications in IoT, AR/VR, and smart city solutions.
Verizon is poised to support emergency communication as Tropical Storms Laura and Marco approach the Gulf Coast. The company emphasizes the significance of reliable connectivity during crises, especially in light of recent weather events like Hurricane Isaias. The Verizon Response Team (VRT) is on standby 24/7, ready to assist first responders with essential technologies and equipment. Preparations include backup power strategies, redundant systems, and community support initiatives, ensuring a robust network during emergencies.
Verizon is providing unlimited calling, texting, and data from August 22 to August 28 for consumer and small business customers affected by wildfires in California and Colorado. Customers in the impacted counties can access this service automatically, with no additional action needed. The Verizon Response Team is on standby 24/7, offering essential support like portable cell sites and charging stations to first responders. Eric Reed from Verizon emphasized the company's commitment to supporting customers during this challenging time, as they navigate evacuation and recovery efforts.
Verizon’s 5G Ultra Wideband service has been launched at the Indianapolis Motor Speedway for the 104th Indianapolis 500. This innovative service includes a 360-degree, 5G-enabled camera that allows select fans to virtually experience the race from their smartphones through an AR portal. Additionally, Verizon and IMS are hosting a pre-race virtual fan engagement on August 22, 2020, at 10 am ET. A 5G-connected broadcast camera will also enhance NBC Sports' coverage by providing unique shots of the race, showcasing the transformative potential of 5G technology in live sports broadcasting.
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