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.
The 2024 Data Breach Investigations Report by Verizon Business reveals a surge in vulnerability exploitation, with incidents doubling from 2022 to 2023. Ransomware and extortion techniques accounted for a third of breaches, while breaches involving human error remained high. The report highlights the increasing threat of zero-day vulnerabilities and the slow patching of critical vulnerabilities. It also emphasizes the importance of employee education in cybersecurity and the rise of third-party breaches. Overall, the findings stress the need for proactive cybersecurity measures and a shift in cybersecurity culture.
Verizon Business released its 17th annual Data Breach Investigations Report (DBIR) analyzing 8,302 security incidents in EMEA, with 6,005 confirmed breaches. 49% of breaches in EMEA are internal. Most breaches globally involve non-malicious human actions. Zero-day vulnerabilities are a persistent threat. Organizations take an average of 55 days to patch 50% of critical vulnerabilities. AI adoption is less concerning than failure to patch basic vulnerabilities. 32% of breaches involve extortion techniques, and stolen credentials appear in 31% of breaches over the past decade.
Verizon donates $20,000 to the American Red Cross for disaster relief efforts in Oklahoma. The donation aims to support communities affected by severe storms and tornadoes in Southern and Central Oklahoma. Verizon's commitment to aiding in relief efforts showcases its dedication to keeping communities connected during emergencies.
Verizon Business, in partnership with Nokia, is hosting the first Innovation Session of 2024 in Chicago to showcase cutting-edge technologies like 5G. The event aims to demonstrate the transformative impact of these technologies on business growth.
Verizon partners with Latina-owned small business Hija de tu Madre for exclusive Mother’s Day merch. Starting May 7, customers can get a -edition Mother’s Day mercado bag designed by Hija de tu Madre at select Verizon stores. The collaboration celebrates Mother’s Day and the importance of small businesses in vibrant communities. Gift with purchase available at participating stores for a time.
Houston Dynamo Football Club and Verizon have extended their partnership agreement through the 2024 season. Verizon will continue as the official 5G partner for both the Houston Dash and Houston Dynamo FC. The partnership includes unique fan experiences and activations, Fan Appreciation Weekend, a pre-game festival for Hispanic Heritage Night, and featuring Verizon on the training tops for both teams. Verizon aims to enhance fan experiences and strengthen community connections through this collaboration.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) has received the 2024 ENERGY STAR Partner of the Year - Sustained Excellence Award for the 12th consecutive year. The U.S. Environmental Protection Agency recognized Verizon for its commitment to energy efficiency, with 677 ENERGY STAR certifications since 2001. Verizon is actively reducing energy use by transitioning to fiber technologies, implementing energy-saving practices, and upgrading to LED lights. The company aims to achieve ENERGY STAR certifications for 100% of its eligible facilities. Verizon has joined RE100 to source 100% renewable electricity by 2030, with an interim target of 50% by 2025. The company has entered into 27 renewable energy purchase agreements totaling approximately 3.6 gigawatts. Verizon's dedication to energy efficiency and environmental sustainability has been acknowledged through the ENERGY STAR Awards.
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