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 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.
Verizon has been named the Official Telecommunication Services Sponsor for FIFA World Cup 26™ in Canada, Mexico, and the U.S., as well as an Official Tournament Supporter for FIFA Women's World Cup 2027™ in the U.S. This marks the first-ever agreement between FIFA and Verizon. For FIFA World Cup 26, Verizon will provide connectivity services across stadiums, official sites, and tournament operations.
The partnership aims to power experiences for fans, players, media, and visitors, ensuring everyone can follow the action. Verizon will deploy a program for international fans to access their network in the U.S. and Canada. For the FIFA Women's World Cup 2027™ in Brazil, Verizon will bring experiences for U.S. fans, including activations, giveaways, and player meet-and-greets.
Verizon Business has secured a new contract with the South Carolina Army National Guard (SCARNG), becoming their primary wireless communications provider. The deal includes connectivity for over 1,000 devices, ranging from 5G Ultra Wideband and 4G LTE smartphones to data devices like jet packs.
As part of the agreement, SCARNG will have access to the Verizon Frontline Crisis Response Team, a specialized group offering 24/7 emergency assistance during crises at no additional cost. This team provides portable cell sites, Wi-Fi hotspots, and other solutions to enable communications and boost network performance.
The SCARNG serves South Carolina by responding to domestic emergencies and assisting in special situations. This partnership aims to enhance their communication capabilities, supporting their mission across the state.
Verizon Business and Vay Technology have announced a partnership to bring 5G connectivity to Vay's fleet of teleoperated electric vehicles in Las Vegas. Verizon will provide custom data plans to manage the massive amounts of data generated by Vay's vehicles' sensors and cameras. Vay's service allows users to order an electric car via an app, which is then delivered by a remote teledriver. Users drive themselves during the trip, and upon completion, a Vay teledriver remotely drives the car to the next customer.
The high-performance, low-latency Verizon 5G connectivity enables Vay's operational model, supporting data-intensive workloads such as mobility solutions for teleoperation-capable cars, transmitting telematics and diagnostic information, and over-the-air software updates. This partnership highlights the important role of mobile connectivity in the future of transportation and demonstrates Verizon's commitment to innovative automotive solutions.
Verizon has donated $10,000 to the American Red Cross Northern Nevada Chapter to support relief efforts for the Davis Fire in Washoe County, Nevada. The company's cell sites remain operational in the affected area, with extensive redundancy measures and backup power solutions in place. Verizon's Frontline Crisis Response Team continues to support first responders, having delivered nearly 2,000 Frontline solutions to fire camps in 13 states this year alone.
The team has responded to over 200 requests from more than 60 agencies dealing with nearly 100 different named wildfires. In the first nine months of 2024, they've addressed over 1,000 requests from more than 500 agencies in 46 states. Verizon provides emergency assistance to government agencies and emergency responders 24/7 at no cost, offering portable cell sites, Wi-Fi hotspots, and charging stations.
Verizon Business has won the IBC Innovation Award for implementing its Intelligent Broadcast Edge solution in the NHL's broadcasting efforts. This technology enables ultra low-latency glass-to-glass workflow over Verizon's 5G network, streamlining content distribution and improving audience engagement.
Developed with partners including AWS, Zixi, Vizrt, Net Insight, and Evertz, the solution accelerates on-ice content capture, reducing delay from seconds to milliseconds. It opens doors for new interactive experiences and enhances NHL's global fan engagement.
The award recognizes outstanding technological innovations that deliver real business and creative benefits, showcasing Verizon's successful collaboration with the NHL and its transformation of the traditional live production model.
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.
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