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.
Total Wireless, a prepaid wireless provider on Verizon's network, has launched a new promotion targeting Metro, Mint Mobile, and T-Mobile customers. New customers who port in two or more lines from these carriers can get unlimited 5G data for $15 per month per line on the Total 5G Unlimited plan. This offer includes a five-year price guarantee with taxes and fees included.
The promotion follows Visible's recent deal for single-line switchers and comes shortly after Mint Mobile's offer for AT&T and Verizon switchers. Total Wireless' offer is designed for T-Mobile customers needing multiple lines. Additional benefits include faster data that never slows down and a $200 Anniversary Credit towards any 5G phone after 12 monthly plan payments.
Verizon and Skylo have partnered to launch a commercial direct-to-device messaging service for Verizon customers, providing connectivity in areas without cellular coverage. Starting this fall, select smartphones will have access to emergency messaging and location sharing via satellite. By next year, Verizon plans to offer text-anywhere satellite capabilities for certain devices.
Verizon is the first mobile carrier globally to launch supplemental smartphone connectivity on Skylo's non-terrestrial satellite network. The companies are also collaborating on satellite IoT technology, successfully demonstrating how Verizon-enabled IoT devices can roam onto satellite networks when out of cellular range. This innovation has potential applications in transportation, agriculture, maritime, environmental monitoring, and asset tracking.
Verizon remains prepared for Hurricane Hone's impact on Hawaii, demonstrating its commitment to keeping communities and first responders connected. The company's Response Team has conducted year-round preparations, including emergency drills, network infrastructure fortification, and resource mobilization for rapid response.
Verizon's network is engineered to withstand severe weather, featuring redundancy in critical components. The company has over 550 portable network assets, 300 satellite-based portable network assets, and more than 1,000 mobile generators ready for deployment. The Verizon Frontline Crisis Response Team, composed primarily of former first responders and military personnel, stands ready to support public safety agencies at no cost.
In 2023, Verizon supported agencies during three major hurricanes, and in the first seven months of 2024, the team has responded to nearly 800 requests from over 400 agencies in 44 states. Verizon also supports its employees through the VtoV Employee Relief Fund, providing aid during natural disasters or emergencies.
Simple Mobile, a Verizon no-contract wireless provider, has introduced its LifeLine discount program for California residents. Eligible customers can get a 30GB wireless plan for as low as $1/month when combined with the Federal Lifeline program. This comes as Simple Mobile launches a promotion offering 3x the high-speed data on select plans.
Key points:
- California LifeLine program offers $29 off the $30 plan price
- QR code application process at authorized retailers
- Automatic qualification for SNAP, Medicaid, and Veterans Pension beneficiaries
- Over 700 locations in California and 5,000 nationwide
- Expansion of Lifeline program across the U.S.
Verizon (NYSE: VZ) has announced the expiration and final results of its private exchange offers for 10 series of notes.
The offers, which expired on August 19, 2024, involved the exchange of old notes for newly issued notes due 2035. All conditions for the exchange have been met or waived. Verizon accepted all notes validly tendered after the original early participation date of August 2, 2024.
Key figures include:
- Total exchange price for fixed rate notes varied from $933.66 to $1,008.93 per $1,000 principal of old notes.
- New notes have a coupon rate of 4.780% and a principal amount of $25,819,000.
- Final settlement date is August 21, 2024.
Verizon has entered into a registration rights agreement for the new notes and appointed Global Bondholder Services as the exchange and information agent.
Verizon (NYSE, Nasdaq: VZ) announces the launch of the Google Pixel 9 smartphone family, available for preorder now. The lineup includes Pixel 9, Pixel 9 Pro, Pixel 9 Pro XL, and Pixel 9 Pro Fold, featuring advanced AI capabilities and 5G connectivity. Verizon offers attractive deals, including:
1. Up to $800 off with qualified trade-in for new and existing customers
2. Free memory upgrade for Pixel 9 and Pixel 9 Pro XL
3. Pixel Watch 3 for as low as $5/month with 5G Android smartphone purchase
4. NFL Sunday Ticket from YouTube and YouTube TV included with new line activation on select plans
The devices will be available in stores starting August 22 for Pixel 9 and Pixel 9 Pro XL, and September 4 for Pixel 9 Pro and Pixel 9 Pro Fold. Verizon also introduces exclusive perks like YouTube Premium for $10/month and a 30-day free trial for new customers.
A new report by Incisiv, Verizon (VZ), and Ericsson reveals that distribution companies are focusing on technology investments to enhance efficiency and labor productivity. The study, surveying 134 executives from retail, manufacturing, and logistics industries, found that:
1. 78% of companies prioritize managing operational costs.
2. 86% face labor shortages and workforce management challenges.
3. 81% plan to deploy mobile devices by 2026 for improved productivity.
4. 65% say their current network cannot support needs for the next 24 months.
Companies are investing in technologies like RFID, robotics, and AI to address these challenges and stay competitive in the evolving distribution landscape.
Verizon has partnered with the Atlanta Hawks and State Farm Arena as the Official 5G Wireless Partner for the 2024-25 regular season. This collaboration aims to enhance fan experience and support community engagement in Atlanta. Verizon has added 4G LTE and 5G Ultra Wideband coverage throughout the arena, focusing on providing 5G service using its premium mmWave spectrum.
Key points of the partnership include:
- Technology upgrades to improve event entry and concession experiences
- Exclusive access for Verizon customers to State Farm Arena events through Verizon Access
- Enhanced connectivity for fans during games and events
- Deepening Verizon's commitment to the Atlanta community
This partnership underscores Verizon's dedication to bringing innovative products and services directly to Hawks fans while contributing to Atlanta's cultural and sporting landscape.
Verizon has secured a $4 million task-order agreement with the National Labor Relations Board (NLRB) under the Enterprise Infrastructure Solutions (EIS) contract. The deal involves upgrading and reconfiguring SD-WAN at all 48 NLRB branch offices and headquarters. Verizon will also provide new distributed security infrastructure and cloud hosting services.
This win reinforces Verizon's position as a leading EIS service provider for federal agencies. The company's SD-WAN offering enables organizations to create application-driven, agile, and secure networks while controlling costs. Verizon recently announced a similar 1,000-site rollout for the Commonwealth of Virginia in April.
Verizon (NYSE, Nasdaq: VZ) has announced that Kyle Malady, Executive Vice President and CEO of Verizon Business, will speak at the 27th Annual Oppenheimer Technology, Internet & Communications Conference on August 12, 2024, at 12:25 p.m. ET. The event will be webcast with access instructions available on Verizon's Investor Relations website.
Verizon, headquartered in New York City, is a global telecommunications company serving millions of customers and 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, continuously innovating to meet current and future customer needs.
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