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) 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.
Verizon Frontline has appointed Dr. Kathleen L. Kiernan to its First Responder Advisory Council (VFRAC). Dr. Kiernan, currently President and Chair of the Board at NEC National Security Systems, brings a wealth of experience from her 25-year career with the ATF and various roles in security and education. The VFRAC advises Verizon Frontline on strategy, product development, and public policy initiatives for public safety agencies.
Verizon Frontline, developed over three decades of partnership with public safety officials, provides advanced network and technology solutions for first responders. This appointment reinforces Verizon's commitment to supporting public safety agencies with cutting-edge technological solutions to meet their evolving needs in an ever-changing landscape.
Verizon has announced its offers for the new iPhone 16 lineup, including the iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and iPhone 16 Pro Max. The new iPhones feature the A18 chip, Camera Control, and improved battery life. Verizon is offering various deals for new and existing customers:
1. Trade-in offers up to $1,000 off for Unlimited Ultimate plan customers
2. New line offers starting at $10/month for 36 months
3. Apple Watch Series 10 deals starting at $6/month with select iPhone purchases
4. Business customer offers up to $1,000 off with eligible trade-in
Pre-orders start on September 13, with availability from September 20. The release also includes information about new Apple Watch models and AirPods.
Verizon Communications Inc. (VZ) has announced a $20 billion all-cash acquisition of Frontier Communications Parent, Inc. (FYBR), the largest pure-play fiber internet provider in the U.S. This strategic move will significantly expand Verizon's fiber footprint across the nation, adding 2.2 million fiber subscribers and extending its network reach to 25 million premises across 31 states and Washington, D.C. The acquisition is expected to be accretive to Verizon's revenue and Adjusted EBITDA growth upon closing, with projected annual run-rate cost synergies of at least $500 million. The transaction, valued at $38.50 per share, represents a 43.7% premium to Frontier's 90-day volume-weighted average share price. Verizon aims to enhance its competitive position, offering premium mobility and broadband services to more customers nationwide.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) has increased its quarterly dividend for the 18th consecutive year. The Board of Directors declared a dividend of 67.75 cents per share, up 1.25 cents from the previous quarter. This dividend will be payable on November 1, 2024, to shareholders of record as of October 10, 2024.
CEO Hans Vestberg attributes this increase to Verizon's focus on wireless service revenue growth, adjusted EBITDA expansion, and free cash flow generation. In the first half of 2024, Verizon made nearly $5.6 billion in cash dividend payments. The company, which serves millions of customers worldwide and nearly all Fortune 500 companies, generated revenues of $134.0 billion in 2023.
Verizon's Chairman and CEO, Hans Vestberg, is set to speak at the Goldman Sachs Communacopia + Technology Conference on September 9, 2024, at 11:50 a.m. ET. The event will be webcast, with access details available on Verizon's Investor Relations website. Verizon (NYSE, Nasdaq: VZ), headquartered in New York City, is a leading telecommunications company serving millions of customers worldwide, including nearly all Fortune 500 companies.
In 2023, Verizon generated revenues of $134.0 billion. The company focuses on providing mobility, reliable network connectivity, and security solutions. Verizon's team continually innovates to meet current and future customer needs. For more information, visit verizon.com or find a retail location at verizon.com/stores.
Verizon (NYSE, Nasdaq: VZ) has announced that Sowmyanarayan Sampath, Executive Vice President and CEO of Verizon Consumer, will speak at the BofA Securities 2024 Media, Communications & Entertainment Conference on September 4, 2024, at 8:00 a.m. ET. The event will be webcast with access instructions available on Verizon's Investor Relations website.
Verizon, formed in 2000, is a leading global provider of technology and communications services. Headquartered in New York City, the company generated revenues of $134.0 billion in 2023. Verizon offers data, video, and voice services, focusing on mobility, reliable network connectivity, and security.
Verizon (NYSE, Nasdaq: VZ) has announced that Joe Russo, Executive Vice President and President of Global Networks and Technology, will speak at the Citi 2024 Global TMT Conference on Thursday, September 5, at 9:10 a.m. ET. The event will be webcast, with access instructions available on Verizon's Investor Relations website.
Verizon, formed in 2000, is a leading provider of technology and communications services. Headquartered in New York City, the company generated revenues of $134.0 billion in 2023. Verizon offers data, video, and voice services, focusing on mobility, reliable network connectivity, and security.
For more information, interested parties can visit Verizon's online media center at verizon.com/news or subscribe to their RSS feed at www.verizon.com/about/rss-feeds/.
Verizon Connect, a leading fleet management solutions provider, has announced new features to help fleet operators manage vehicle emissions more effectively. The company has been chosen for the California Bureau of Automotive Repair (BAR) Continuous Testing Program (CTP) pilot, allowing California government entities to submit telematics data directly to BAR, eliminating the need for physical smog tests. Additionally, Verizon Connect has launched the Emission System Report, a tool providing detailed information on vehicle emissions-related systems, including fault codes and check engine light status. These initiatives aim to simplify compliance with environmental regulations, reduce downtime, and contribute to sustainability goals for fleet operators across the United States and Canada.
Verizon (NYSE, Nasdaq: VZ) has announced significant updates to its Verizon Visa® Card, offering enhanced rewards and savings for both Verizon Wireless and Fios customers. The card now provides 4% rewards on Verizon purchases, grocery stores, gas (including EV charging), and dining, with 1% on other purchases. Cardholders can save up to $10 per account or line monthly on their Verizon bills through Auto Pay. New customers can receive a $100 statement credit after their first purchase within 90 days. Notably, Fios-only customers are now eligible to apply for the card. The Verizon Visa® Card, issued by Synchrony (NYSE: SYF), has no annual fee and allows customers to earn unlimited Verizon Dollars with no expiration date.
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