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 is enhancing its preparedness for crises, such as wildfires and power outages, affecting California and western states. The company ensures connectivity for its customers through backup generators at most cell sites and switch locations, allowing network functionality during outages. Verizon prioritizes first responders by providing network access at no cost, deploying support teams, and utilizing advanced technologies like drones and satellite links for damage assessment. Additionally, Verizon encourages customers to prepare personal communication plans and keep their devices charged for emergencies.
Verizon announced its partnership with Twitch Rivals North America as the official 5G and 4G LTE network partner. This collaboration will focus on media and broadcast integrations in Twitch streams and activations at events. With 5G Ultra Wideband designed for gamers, both companies aim to innovate how creators and fans interact. Verizon's Chief Media Officer highlighted the potential for 5G to enhance gaming experiences. Additionally, Verizon announced other partnerships, including with FaZe Clan and Riot Games, showcasing their commitment to the gaming industry amidst a revenue generation of $131.9 billion in 2019.
Verizon has extended its agreement with The Walt Disney Company, enhancing its Mix & Match Unlimited plans to include The Disney Bundle—Disney+, Hulu, and ESPN+. Starting August 20, customers can enjoy these services at no additional cost within select plans. The revised offerings not only provide more entertainment options but also introduce unlimited data in the Just Kids plan for $35/month. Verizon aims to deliver greater value at the same price while supporting its 5G Nationwide network, enhancing customer experience with faster speeds and extensive content choices.
Verizon has launched its Hyper Precise Location using Real Time Kinematics (RTK), offering centimeter-level accuracy compared to the typical three to nine meters of GPS. This technology aims to enhance IoT applications, road safety, and autonomous driving through collaborations with HERE Technologies and Renovo. Key benefits include improved logistics in robotics, enhanced emergency response, and safer vehicle navigation. Verizon, celebrating 20 years in business, generated $131.9 billion in revenue in 2019, marking its commitment to innovation in the communication sector.
Adam Koeppe, senior vice president of network strategy and planning for Verizon (NYSE, Nasdaq: VZ), will speak at the virtual Cowen Communications Infrastructure Summit on August 11, 2020, at 12:40 p.m. ET. His remarks will be webcast, with access details available on Verizon’s Investor Relations website. Verizon, founded on June 30, 2000, marked 20 years as a leading provider of technology and communications services, generating $131.9 billion in revenue in 2019. For further updates and news releases, visit their Online Media Center.
Verizon has partnered with Square Enix and Crystal Dynamics to offer customers early access to the anticipated video game Marvel's Avengers. Starting August 10, 2020, 5,000 Super Tickets are available for Verizon wireless and Fios customers, providing access to a beta event from August 14-16, and a digital copy of the game upon redemption.
This partnership highlights Verizon's commitment to enhancing customer experience in gaming, with plans for future exclusive content and innovative network offerings.
Verizon and AWS announced the launch of 5G mobile edge compute with AWS Wavelength, now live in Boston and the Bay Area. This partnership allows developers to create innovative applications benefiting from ultra-low latency and high bandwidth, essential for industries like healthcare and sports. Notably, use cases include real-time machine learning for medical procedures and enhanced analytics for sporting events. Verizon aims to expand the 5G Edge to more cities by the end of 2020, aiming to provide speeds 10 times faster than 4G.
Verizon has announced the preorder dates for Samsung's new Galaxy Note20 series, starting August 6. The lineup also includes the Galaxy Z Fold2 5G and Galaxy Tab S7 5G tablets, both supporting Verizon's 5G Ultra Wideband network. The Galaxy Note20 starts at $999.99, while the Note20 Ultra starts at $1,299.99. The Galaxy A51 5G UW, priced at $549.99, will be available on August 13, serving as Verizon's most affordable 5G smartphone. With extensive 5G capabilities, these devices offer enhanced gaming and productivity features, as well as attractive trade-in promotions.
Verizon Ventures has led a €4 million ($4.5 million) Series A financing round in PICadvanced (PICa), a Portuguese developer of optical solutions for telecom applications. Established in 2014, PICa specializes in NG-PON2 technology, enhancing network capacity and reducing costs per bit. The investment will enable Verizon to enhance its optical access network, crucial for 5G deployments. The NG-PON2 market is projected to grow to over $2 billion by 2024, indicating significant potential for both Verizon and PICa in the telecom sector.
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