Verizon Communications Inc. reports developments across its telecommunications business, including wireless service performance, broadband connectivity, enterprise services and network technology. Company updates commonly address postpaid phone activity, customer economics, cash flow, guidance, investor conference appearances and capital markets actions involving outstanding Verizon and subsidiary notes.
News also covers Verizon's network resilience and public-safety capabilities, including Digital Twin damage modeling, satellite-enabled disaster connectivity, private 5G, fixed wireless access and broadcast solutions. Partnership and sponsorship updates describe how Verizon uses 5G, fiber and venue network design to support connected experiences for customers, businesses, broadcasters and large events.
Verizon is preparing for Hurricane Milton's approach to Florida, emphasizing its readiness to maintain connectivity for communities and first responders. The company has implemented a comprehensive response plan, including:
1. A hardened network designed to withstand extreme conditions
2. Preparation of backup systems like batteries and generators
3. Staging of portable network solutions and mobile generators
4. Deployment of the Verizon Frontline Crisis Response Team to support public safety agencies
Verizon also offers tips for businesses and residents to prepare for the hurricane, such as updating contact information, testing backup networks, and stocking up on power supplies. The company encourages customers to utilize satellite communication features on compatible devices and to stay informed through Verizon's Online Emergency Resource Center.
Verizon (NYSE, Nasdaq: VZ) plans to expand its Fios high-speed broadband service to over 3,000 underserved addresses in Jamestown and Westerly, Rhode Island. This expansion, in partnership with the Rhode Island Commerce , includes $3.6 million in funding from the American Rescue Plan Act (ARPA). The project will deploy more than 54 miles of fiber, offering plans with speeds of at least 300 Mbps starting at $35 per month when bundled with a Verizon mobile plan. Select areas will have access to Fios 2 Gig plans for $84.99 per month. Construction is expected to be completed by the end of 2026, bringing reliable internet service to power how residents work, live, and play in underserved parts of the state.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) will report its third-quarter 2024 earnings on Tuesday, October 22. The company will release detailed information, including management commentary, earnings news release, and financial tables, at 7:00 a.m. ET on its Investor Relations website. Additionally, Verizon will host a live sell side analyst meeting at 9:00 a.m. ET on the same day, where CEO Hans Vestberg and senior leadership will discuss Q3 results, provide a strategic broadband update, and hold a Q&A session with analysts. Access instructions and presentation materials will be available on Verizon's Investor Relations website. In 2023, Verizon generated revenues of $134.0 billion, serving millions of customers worldwide and nearly all Fortune 500 companies.
Verizon Communications (NYSE, Nasdaq: VZ) has appointed Santiago "Yago" Tenorio as Chief Technology Officer and SVP of Strategy and Technology Enablement. Tenorio, with over 25 years of experience in the wireless industry, will report to Joe Russo, Executive VP & President of Global Network and Technology. His role will focus on advancing 5G use cases, partnering for new technology advancements, and mapping out future technologies for Verizon customers.
Tenorio's background includes significant achievements at Vodafone, where he led high-performance teams and was recognized for his expertise in Open RAN, Cloud Networking, and Network APIs. He previously served as CTO for Vodafone Ireland and Chief Network Officer in the UK, successfully managing network coverage for the 2012 London Olympics. Tenorio was recently elected Fellow of the Royal Academy of Engineering in the UK, a prestigious honor in the engineering field.
Verizon is donating $325,000 to support communities affected by Hurricane Helene. The funding will aid local organizations in Florida, Georgia, North Carolina, and South Carolina. Contributions include $100,000 to United Way of North Carolina, $50,000 to Central Carolina Community Foundation, and various amounts to other regional organizations.
Verizon is also waiving postpaid domestic call/text/data usage for customers in affected areas from Sept. 26 - Oct. 5 for Florida and Georgia, and Sept. 28 - Oct. 5 for North and South Carolina. The company is working to restore network connectivity, deploying temporary mobile assets, and conducting refueling operations to maintain service.
Verizon's Atlantic South Market President, Leigh Anne Lanier, emphasized the company's commitment to supporting those affected by the hurricane and aiding in their recovery efforts.
Verizon is launching the Verizon Access Concert Series, featuring exclusive live performances by Becky G and Xavi for Verizon customers this fall. The series aims to bring customers closer to their favorite artists through unparalleled experiences. Xavi will perform at 713 Music Hall in Houston on October 25, while Becky G will take the stage at The Fillmore in Miami on November 12.
Verizon customers can obtain free tickets through various methods, including the Verizon Access program via the myVerizon app, in-store sweepstakes at select Verizon stores, and social media giveaways. The ticket drop for Xavi's performance begins on October 3, and for Becky G on October 11. This initiative is part of Verizon's effort to provide customers with exclusive access to events, pre-sales, and tickets to concerts and music festivals.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) and Vertical Bridge have announced a $3.3 billion tower transaction. Vertical Bridge will obtain exclusive rights to lease, operate, and manage 6,339 wireless communications towers across all 50 states and Washington, D.C. from Verizon subsidiaries. The deal includes:
- A prepaid lease with upfront proceeds of approximately $2.8 billion in cash
- A 10-year leaseback agreement for Verizon to use tower capacity
- Options to extend the lease term up to 50 years
- Access for Verizon to additional tower space for future use
This agreement aims to help Verizon reduce tower-related costs and increase vendor diversity. The transaction is expected to close by the end of 2024, subject to customary closing conditions.
Verizon has announced it will waive domestic call, text, and data usage for postpaid consumer, small business, and Verizon Prepaid customers in parts of Florida and Georgia affected by Hurricane Helene from Sept. 26-Oct. 5, 2024. The waiver applies to specific counties in both states. For prepaid customers using various Verizon-owned brands, service end dates will be extended to Oct. 5, 2024.
Verizon's network is prepared for the hurricane with redundancy in critical paths and components. All macro cell sites have backup battery power, and most sites in affected areas have backup generators. The company has ensured that batteries and generators are operational and refueled, with ongoing refueling efforts to maintain power during commercial outages.
Verizon is preparing for potential Hurricane Helene approaching the Florida coast. The company's Response Team has been readying year-round through emergency drills, network infrastructure fortification, and resource mobilization. Verizon's networks are designed to maintain connectivity during extreme weather, with redundancy in critical components.
Key preparations include:
- A fleet of over 550 portable network assets
- Nearly 300 satellite-based portable network assets
- More than 1,000 mobile generators
The Verizon Frontline Crisis Response Team is ready to support public safety agencies with mission-critical communications. In the first nine months of 2024, they've responded to over 1,000 requests from more than 500 agencies across 46 states.
Verizon Business offers solutions for business continuity during emergencies. The company also provides tips for residents to stay connected and prepared during the hurricane.
Verizon Business (NYSE, Nasdaq: VZ) and SK Shieldus have announced a strategic collaboration to deliver cybersecurity solutions to South Korean and Asian enterprises operating globally. This partnership combines Verizon's global reach with SK Shieldus' local expertise to provide comprehensive protection for Asian businesses. The collaboration will focus on real-time threat intelligence, vulnerability assessment, incident response, and managed security services.
Verizon Business, which works with 99% of Fortune 500 companies, operates nine Security Operations Centers and six forensics labs. It monitors 61 billion security events annually and conducted over 500 IT investigations in 2023. SK Shieldus, South Korea's largest security services provider, offers a wide range of physical and cybersecurity services to over 1,800 customers across various sectors.
This partnership aims to strengthen cybersecurity capabilities for customers in the Korean market and expand services to clients in Asia and globally.