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 Business (NYSE: VZ) has expanded its partnership with Monumental Sports & Entertainment (MSE) to enhance cyber resiliency and security optimization across MSE's sports and entertainment enterprise. The collaboration extends to MSE's properties, including the Washington Capitals, Washington Wizards, Washington Mystics, and Capital City Go-Go.
Verizon will provide Rapid Response Retainer (RRR) services, Managed Security Information and Event Management (MSIEM), and Cyber Security Incident Response Team services. These solutions aim to improve threat intelligence, strategic planning, and emergency response capabilities for MSE.
The partnership highlights Verizon's commitment to helping enterprise customers address cybersecurity challenges in the sports and entertainment industry, where organizations are increasingly becoming targets for cyber threats.
Verizon is expanding its Verizon Innovative Learning initiative with 18 new Learning Labs in Title I middle schools, bringing the total to 161 nationwide. Many Labs are equipped with Verizon's 5G network. The company has launched a free web-based AR app for STEM exploration, accessible to all students. Additionally, Verizon is offering full-day STEM workshops at 44 HBCUs, HSIs, and community colleges this Fall.
The Labs combine emerging technology with innovative curriculum, created in partnership with Arizona State University. They offer courses in AR/VR, 3D printing, and AI. Surveys show 92% of students are more engaged after participating in the Lab program. The new AR app allows students to take on roles of scientists to solve environmental issues. The STEM workshops provide access to emerging technologies and cover topics like design thinking and social entrepreneurship.
Grain Management, a trusted solutions provider in the broadband and communications industry, has announced the addition of Steven R. Smith as Managing Director on their Investment Team. Smith brings over 30 years of experience in advancing enterprise growth in the global TMT industry. Previously, Smith held executive positions at Verizon (NYSE: VZ), where he led Corporate Finance and played a key role in securing and managing Verizon's spectrum assets.
David J. Grain, CEO and Founder of Grain Management, highlighted Smith's commercial acumen and record of delivering results in transformative technological, regulatory, and competitive market environments. Smith's expertise in wireless spectrum transactions and deep understanding of the regulatory environment are expected to enhance Grain's ability to deliver exceptional results to clients.
Verizon Frontline's 2024 Public Safety Communications Survey reveals key insights into first responders' technology priorities. 65% of respondents identified network reliability as their top concern, up from 51% last year. The survey also found that 66% of first responders view 5G as important or a top priority.
Notably, 75% of respondents believe AI will be important for public safety agencies in the future. However, only 14% currently use AI or smart solutions. First responders see AI potentially optimizing resource allocation (24%), enhancing situational awareness (23%), and improving early warning systems (20%).
The survey also highlighted growing concerns about preparedness for natural disasters and cyberattacks. Only 60% felt prepared for natural disasters, down from 69% in 2022. Similarly, 34% felt somewhat unprepared or neutral about cybersecurity readiness, up from 25% two years ago.
Verizon Business is hosting its third Innovation Session of 2024 at Capital One Arena in Washington, D.C. on September 17, in partnership with Ericsson. The event will showcase cutting-edge technologies transforming business and public sectors, featuring demonstrations of Verizon Frontline's emergency response tools and 5G innovations.
Industry leaders from Verizon, Google, U.S. government agencies, NHL, and Monumental Sports & Entertainment will participate in panel discussions. The session aims to explore trends and innovations improving efficiency and responsiveness across sectors.
Verizon's commitment to D.C. extends beyond the event, with its Small Business Digital Ready Program supporting local businesses and recent contract awards with federal agencies totaling nearly $260 million. These contracts include modernizing communications infrastructure for the National Weather Service and upgrading network systems for the National Labor Relations Board.
Simple Mobile, a no-contract wireless provider on Verizon's network, has been selected by the California Public Utilities Commission (CPUC) to partner in the re-launch of the California LifeLine Foster Youth Pilot Program. This initiative aims to provide free wireless service to 12,000 foster youth across California. Each participant will receive a free smartphone, charger, and case, along with unlimited talk/text, up to 25 GB of mobile data, and 10 GB of hotspot data at no cost.
The program demonstrates Verizon Value's commitment to digital inclusion. Simple Mobile has also introduced an enhancement to its LifeLine benefits, offering eligible customers $10 discounts per month on any monthly plan. This means qualifying LifeLine customers can get 15GB of high-speed data for $15/month nationally, and eligible California customers can access a 30GB wireless plan for as low as $1/month.
Verizon (NYSE: VZ) has expanded its 4G LTE and 5G Ultra Wideband coverage in Savannah, Georgia, including Pooler, Port Wentworth, and the Historic District. The company has activated new cell sites and an in-building network at the Savannah/Hilton Head International Airport, enhancing connectivity for residents, visitors, and businesses across Chatham County.
This expansion is part of Verizon's multi-year, nationwide network transformation, with a $112 million investment committed to Georgia in 2023. The upgrades aim to improve network capacity, performance, and support for new products and services. Local officials have praised the investment, highlighting its importance for economic growth and business opportunities in the region.
Verizon Frontline's Crisis Response Team recently supported the Milwaukee Police Department during the Republican National Convention, providing over 900 solutions including smartphones and deployable communications assets. The team's 18-month preparation involved collaboration with local, state, and federal agencies to ensure first responders had critical communications capabilities.
Key highlights:
- 725 Verizon Frontline solutions helped develop a Common Operational Picture (COP)
- Utilized 5G smartphones, Verizon network, and Team Awareness Kit (TAK) application
- Verizon Frontline is the primary wireless partner for Milwaukee PD
- Similar support provided for Democratic National Convention in Chicago
- Verizon Frontline Crisis Response Team offers 24/7 emergency assistance at no cost to agencies
Verizon Frontline's Crisis Response Team recently supported public safety agencies during the Democratic National Convention in Chicago and the Republican National Convention in Milwaukee. The team's 18-month preparation involved collaboration with various agencies to ensure critical communications capabilities for first responders. They provided over 900 Verizon Frontline solutions, including smartphones with specialized apps, deployable assets like Satellite Picocells on Trailers (SPOTs), and unmanned aerial systems (UAS) for enhanced situational awareness.
The team also assisted with network monitoring and deployed extra routers to maintain constant contact for first responders. Derek Mayer, Deputy Special Agent in Charge of the U.S. Secret Service's Chicago Field Office, emphasized the importance of Verizon Frontline's support in enabling successful agency collaboration and communication during both conventions.
Verizon Business (NYSE: VZ) is set to showcase its innovative technology solutions at IBC2024, demonstrating how 5G and AI are transforming content creation and distribution in the media and entertainment industry. The company has installed a Private 5G network in the IBC Accelerator Zone to power an interactive experience that uses AI to deliver personalized sports highlight clips. Verizon Business has been shortlisted for two awards at the event for its Intelligent Broadcast Edge solution.
Key highlights include a fireside chat with Iris Meijer, Chief Product and Marketing Officer, discussing industry transformation, and demonstrations of how Verizon's solutions enable broadcasters to deliver real-time, bespoke content. The company aims to drive innovation in cloud adoption, remote production, and new consumption models, emphasizing its role in elevating customer experiences and maximizing content value in the rapidly evolving digital landscape.
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