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 has expanded its 5G Home Internet service to parts of Houston, enhancing connectivity for remote work and smart homes. By year-end 2020, 5G Home will reach 10 cities. Verizon is also trialing new network technology with Pivotal Commware in Dearborn, Michigan, aimed at improving signal coverage through intelligent repeaters. This cost-effective solution targets underserved areas, particularly multi-unit dwellings. The company generated revenues of $131.9 billion in 2019, reflecting its status as a leading provider of technology and communication services.
Verizon has launched new prepaid plans that provide savings over time, encouraging long-term customer retention. Customers can save $5 after three months and another $10 after nine months, with an additional $5 discount for Auto Pay, totaling up to $15 off. The Unlimited plan starts at $65 per month, dropping to $50 after nine months. It includes talk, text, and data to Mexico and Canada. Options like the 5GB plan are available for as low as $25/month. These offers aim to deliver value without sacrificing quality on Verizon's award-winning network.
Verizon has partnered with Digital Catapult to launch an immersive accelerator program focused on developing innovative 5G solutions for enterprises. This initiative invites select retail and brand partners to work with startups in Verizon's London 5G Lab over a seven-month period. The lab, launched in February 2020, enables organizations to test and develop 5G applications, showcasing its transformative potential across various use cases. The collaboration aims to drive innovation and support the local entrepreneurial community in leveraging 5G technology.
Verizon is set to launch the Verizon Visa Card on June 26, offering unique rewards and monthly discounts on wireless bills. Exclusive to Verizon wireless customers, cardholders can earn Verizon Dollars on everyday purchases, redeemable like cash for Verizon products. The card features no limits on earnings, no expiration dates, and is the only credit card eligible for Auto Pay discounts. Early access is available for qualifying customers until June 25, with approvals potentially granting up to $1,000 in Verizon Dollars.
Verizon has successfully completed trials of Dynamic Spectrum Sharing (DSS) technology in Texas and Minnesota, enabling simultaneous data sessions for LTE and 5G NR over low-band spectrum. This advancement supports Verizon's goal to launch 5G Nationwide in 2020. DSS allows efficient spectrum use, maximizing customer experience by keeping 5G-enabled devices connected to 5G when outside Ultra Wideband coverage. This technology enhances network programmability and low latency, catering to various use cases, including IoT and AR/VR applications.
Verizon is expanding its "Food for Frontline Workers" program to support healthcare staff in El Paso, TX, and Chula Vista, CA, by providing 100 meals daily from local restaurants between June 15-20. This initiative aims to support medical staff during the COVID-19 pandemic and assist local businesses affected by it. Tami Erwin, CEO of Verizon Business Group, highlighted their commitment to frontline workers and small business owners. The program will deliver meals to The Hospitals of Providence and Scripps Mercy Hospital and is part of Verizon's broader efforts to support the community during the health crisis.
On June 16, 2020, Girl Scouts of the USA launched CircleAround, a media brand designed for adult women aged 25-54. With a focus on Inspiration, Wellness, Work, Money, Parenting, Relationships, and News, CircleAround aims to provide a trusted content destination that embodies the values of the Girl Scouts. The platform will feature various content formats including articles, blogs, and podcasts, and is operated by a wholly-owned subsidiary of the organization. Revenue will be generated through advertising, supporting the Girl Scouts' mission of empowering young girls.
Verizon is launching a new monthly webinar series titled "Return to Business as Unusual" aimed at enterprise businesses, starting on June 17, 2020. The first session, featuring Harvard Professor Dr. Joseph Kvedar and journalist Ron Insana, will explore telehealth advancements during the COVID-19 pandemic. This initiative focuses on adapting to changes in business practices, particularly in health technology, which has seen increased use due to the pandemic. The webinar will be available on-demand for those unable to attend live.
Yahoo, a part of Verizon Media, has launched the podcast series “STOR14S” in collaboration with the GEANCO Foundation. Featuring renowned actors like Benedict Cumberbatch and Rachel Brosnahan, the 14-part series will air starting June 18, 2020. It aims to provide entertainment and support mental health during the pandemic, while raising funds for GEANCO's COVID-19 relief efforts in Nigeria. The podcast will be available on major platforms, with all talent fees donated to the foundation.
BlueJeans by Verizon has enhanced its video conferencing platform with new features to improve security, user engagement, and productivity for remote workers. Key updates include Restricted Meetings for enhanced access control, Waiting Room features for managing meeting entry, and AES-256 GCM Encryption for improved security. Additionally, features like Smart Meetings Transcription and Slack Integration aim to boost collaboration while combatting video fatigue. This comes as utilization of BlueJeans surged by 300% during the pandemic, reflecting growing demand for secure, effective communication tools.
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