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's network outperforms competitors in performance, accessibility, and reliability, as evidenced by RootMetrics' latest tests. In the second half of 2022, Verizon was undefeated in 95% of 125 metro drive tests, securing top marks in 90% for network accessibility and 89% for reliability. The company plans to expand 5G Ultra Wideband coverage in 2023, especially in rural areas, while enhancing capacity through increased C-Band spectrum deployment. Verizon emphasizes continuous innovation and investment to provide a robust network experience, aiming to accommodate the growing demands for advanced technology and customer services.
Verizon Business has opened submissions for the fourth annual BlueJeans by Verizon Customer Awards, aimed at recognizing exceptional video use in enhancing workplace communication. Nominations are open until March 31, 2023, across four categories: Top Workplace Modernization, Biggest Impact, Most Innovative Use Case, and Best Use of BlueJeans Events. Winners will be revealed on Verizon’s Up to Speed video podcast in May 2023. The awards celebrate customers excelling in change management and creative video application using BlueJeans platforms, showcasing the flexibility and innovation in the current work environment.
NORTHAMPTON, MA / ACCESSWIRE / January 26, 2023 / Madrid Neighborhood School in Phoenix has transformed its parent tech classes from a handful of attendees to full classrooms. The Verizon Innovative Learning Lab now engages parents with tools their children use, such as augmented reality, 3D printing, and artificial intelligence. Dr. Tamara Campbell notes that this initiative improves digital literacy while allowing parents to discuss concerns about digital safety. Students also teach parents, enhancing their own skills. The program aims to inspire community growth in tech engagement, fostering a collaborative learning environment.
Valentine's Day promotions are live at Verizon, offering substantial discounts and deals on a variety of tech products. Customers can enjoy a buy one, gift one promotion on select 5G smartphones when activating a new line on select plans. Notable offers include:
- $400 for switching two lines
- Discounts on smartwatches and gaming accessories
- 35% off on Bang & Olufsen products
Verizon reported a revenue of $136.8 billion in 2022, solidifying its position as a leading provider of technology and communication services. These promotions aim to enhance customer engagement during the Valentine's season.
Verizon Communications reported strong fourth-quarter and full-year 2022 results, demonstrating robust performance in wireless service revenue and broadband additions. In Q4, the company achieved earnings per share (EPS) of $1.56, a significant rise from $1.11 in Q4 2021. Full-year 2022 EPS stood at $5.06, down from $5.32 in 2021. Total operating revenue increased to $136.8 billion for the year, reflecting a 2.4% growth. Notably, wireless service revenue rose by 5.9% year-over-year, fueled by strong postpaid net additions, with 1.43 million retail postpaid additions in Q4 alone. Looking ahead, Verizon forecasts 2023 wireless service revenue growth of 2.5% to 4.5%.
Verizon announced an exclusive offer for new Home Internet customers starting January 26, providing up to 12 months of Walmart+ membership, valued at $155 annually. This initiative aims to encourage customers to switch from cable by adding significant savings on household expenses through Walmart's services. Benefits include free delivery, fuel discounts, and a Paramount+ subscription. Verizon's Home Internet plans begin at $25 per month, with no extra fees or data caps. The campaign underscores Verizon's commitment to enhancing customer value and engagement through strategic partnerships.
Verizon Communications Inc. (NYSE: VZ) is set to announce its fourth-quarter 2022 earnings on January 24, 2023. The webcast presentation, starting at 8:30 a.m. Eastern Time, will provide insights into the company's performance. Access to materials, including a detailed earnings release and financial tables, will begin at 7:00 a.m. on Verizon's Investor Relations website. In 2021, the company reported revenues of $133.6 billion, showcasing its strong position as a leading provider of technology and communications services globally. Verizon focuses on meeting the demand for mobility, network reliability, and security.
Verizon and Centech, in partnership with Bell Canada, launched the 5G Development Hub to empower startups in harnessing 5G and Mobile Edge Computing (MEC). Initiated in May 2022, this program selected seven startups to develop innovative solutions across various sectors, such as manufacturing and energy. Each startup collaborated with Verizon's network experts and tested their technologies on Bell's 5G network. Notable participants include Kognitiv Spark and Haply Robotics, which leveraged 5G for enhanced performance and near-real-time control. The initiative aims to foster innovation and growth in Canada’s startup ecosystem.
Verizon has upgraded cell sites in Silver Valley, Idaho, enhancing network capacity and reducing latency. This upgrade doubles the data processing capabilities of local cell sites, allowing more customers to connect simultaneously. It also prepares the infrastructure for future cell sites in the area. Despite challenging weather conditions, engineers successfully deployed fiber cables, significantly improving network reliability and speed. The company emphasizes its commitment to providing advanced technology and maintaining service quality in extreme weather. Verizon generated $133.6 billion in revenue in 2021, highlighting its position as a leading technology and communications provider.
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