Verizon Communications - VZ STOCK NEWS

Verizon Public Sector announced the appointment of Jennifer Chronis as the new head of its Federal business starting in early August. With over 25 years of experience, including a notable role at Amazon Web Services, Chronis has a robust background in partnering with federal agencies to improve efficiency and innovation. She has been recognized as one of the Top 25 DOD Executives to Watch. This leadership change follows the departure of Michael Maiorana at the end of 2020.

Verizon Communications Inc. (NYSE: VZ) reported second-quarter 2020 results with EPS of $1.13, up from $0.95 in 2019, while adjusted EPS was $1.18, down from $1.23. Operating revenues declined 5.1% year-over-year to $30.4 billion, leading to a cash flow increase of $7.7 billion to $23.6 billion for the first half. Total debt fell by $4.9 billion, and net debt declined by $5.7 billion. Wireless service revenue decreased by 1.7% year-over-year, with a total of 352,000 retail postpaid net additions. The outlook remains cautious, expecting adjusted EPS growth between -2% and 2% for 2020.

Verizon has partnered with the Georgia Department of Education to facilitate distance learning for K-12 students across 10 U.S. states amid the Covid-19 pandemic. This initiative aims to provide access to reliable 4G LTE Internet and security solutions for up to 12.5 million students in states including Alabama, Florida, and Virginia. The program allows eligible schools to benefit from discounted service plans and mobile device management solutions. The partnership addresses the urgent need for connectivity as schools adapt to hybrid learning environments.

Verizon Communications Inc. (NYSE: VZ) will report its second quarter 2020 earnings on July 24 at 8:30 a.m. ET. Access to results and materials will be available on their Investor Relations website starting at 7:30 a.m. Verizon generated revenues of $131.9 billion in 2019, showcasing its status as a leading provider in technology, communications, and entertainment. The company has been operational for 20 years, focusing on delivering mobility, reliable connectivity, and security to its customers.

Verizon and the U.S. Marine Corps are collaborating at Marine Corps Air Station Miramar to leverage 5G Ultra Wideband technology for enhancing military operations. This marks the first deployment of 5G on a U.S. military base, aiming to innovate in communications, energy management, connected vehicles, drones, and base security. The initiative will act as a 5G 'living lab' to boost public sector innovation and contribute to national defense capabilities.

Verizon Business has launched its first small business resource hub, designed to support enterprises affected by the pandemic. This hub consolidates various relief programs and resources to assist small businesses in their recovery efforts. The initiative includes the Comeback Coach program, which pairs small businesses with influencers for mentoring. Notably, a Verizon Business survey indicated 64% of small business owners find such resources essential. The hub will also feature products like BlueJeans for video conferencing and a suite of security solutions. CEO Tami Erwin emphasizes the importance of collaboration in post-pandemic recovery.

Verizon Media has launched an innovative feature called “Groceries from Walmart”, enabling Yahoo Mail users to shop for groceries directly from their inbox. This service allows users to browse Walmart's grocery catalog, fill their shopping cart, and streamline their online shopping experience. As online grocery shopping increases, with 80% of Americans now purchasing groceries online, this partnership positions Verizon Media strategically to leverage this trend. The feature currently operates on Yahoo Mail's iOS and desktop platforms, aiming to enhance user convenience and engagement.

Verizon has been recognized as the Most Awarded Wireless Company for Network Quality by J.D. Power for the 25th consecutive time, affirming its leadership in the wireless sector. The recognition stems from a national survey with over 33,000 participants conducted from January to June 2020, highlighting Verizon's superior network quality across five regions. The company has also excelled in recent assessments by Rootmetrics, Opensignal, and Ookla, indicating its strength in performance metrics like 5G speed and overall reliability. Verizon generated $131.9 billion in revenue in 2019 and continues to lead in consumer satisfaction.

The 5G Future Forum, established by global leaders including Verizon, announced the upcoming release of its first technical specifications in Q3 2020. These specifications aim to enhance interoperability for 5G and Multi-access Edge Computing (MEC) solutions. Key specifications include 'MEC Experience Management' for APIs and 'MEC Deployment' for hyperscalers and service providers. The forum aims to unlock the potential of 5G applications and anticipates new member entries post-release. Rima Qureshi, Verizon's chief strategy officer, highlighted the specifications as a significant step towards 5G innovation.