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 is waiving call, text, and data charges for postpaid consumers and small businesses in North Carolina affected by a significant power outage from December 3-7. This initiative aims to support customers relying on mobile services during this challenging time. Automatic bill credits will be issued for overage charges, and affected customers do not need to take any action. The measure reflects Verizon's commitment to customer service in crisis situations.
Verizon Business announced that its Verizon Connect Fleet Platform has achieved Canadian Electronic Logging Device (ELD) certification, enhancing compliance with Canada's new hours of service regulations. This certified ELD solution integrates with the fleet management system, aiding customers in meeting the January 1, 2023 enforcement deadline. The certification process, managed by a third-party organization, ensures compliance with Transport Canada's standards. Additionally, Verizon Connect received eight awards in 2022 for product innovation, affirming its commitment to safety and compliance.
Verizon announced an expansion of its network virtualization efforts by launching the first Ericsson virtualized cell site, supported by Intel and RedHat. This initiative enhances flexibility, scalability, and cost efficiency across Verizon's network.
Currently, Verizon has virtualized 8,000 cell sites with plans to reach 20,000. The transition to a cloud-native architecture will help meet diverse customer needs, improve service delivery speed, and support emerging technologies like IoT and augmented reality.
Verizon Home Internet is expanding its Fios footprint in Massachusetts, bringing high-speed fiber internet to over 70,000 additional homes and businesses in communities like Worcester, Brockton, and Lowell. This expansion is part of Verizon's ongoing commitment, with a past investment of $750 million in the state. The all-fiber network promises speeds up to 940 Mbps downstream and 880 Mbps upstream, with plans starting at $25 per month. Eligible households may receive free internet through the Affordable Connectivity Program.
Verizon 5G Ultra Wideband Expansion
As of December 5, 2022, Verizon's 5G Ultra Wideband service reaches over 175 million people, ahead of schedule. The rollout of C-Band technology is 13 months ahead of its original timeline, with nationwide availability expected in Q1 2023. This advancement provides download speeds up to 1 Gbps and improves access in both urban and rural areas. Verizon plans further expansion, activating up to 200 MHz of C-Band spectrum to enhance speed and capacity, complementing mmWave technology for densely populated regions.
Verizon Communications (VZ) announced the resignation of Manon Brouillette, CEO of Verizon Consumer Group, effective December 5, 2022. Brouillette had led the group since January 2022, which was established to enhance customer-focused services. Verizon's chairman and CEO, Hans Vestberg, will now oversee the Consumer Group, emphasizing the need for alignment between network products and operational performance. In 2021, Verizon reported revenues of $133.6 billion, reflecting its position as a leading provider of technology and communication services globally.
Verizon is participating in the Los Angeles Comic Con from December 2-4, 2022, offering attendees opportunities to earn in-game items for League of Legends. Visitors to the Verizon booth can collect a download code for a Masterwork Chest, enhancing their in-game experience. In addition, Verizon is promoting enticing holiday deals, including trade-in offers of up to $1,000 for 5G phone purchases and bundled gaming accessories such as the Ultimate Mobile Gaming Bundle.
Sowmyanarayan Sampath, executive VP for Verizon and CEO of Verizon Business, will speak at the virtual Arete Tech Conference 2022 on December 5 at 9:20 a.m. ET. A replay will be accessible post-event on Verizon’s Investor Relations website. Verizon, a leading technology and communications provider, generated revenues of $133.6 billion in 2021. Headquartered in New York City, the company offers data, video, and voice services on reliable networks, focusing on customer demands for mobility and security.
On December 5, 2022, Hans Vestberg, CEO of Verizon (VZ), will address attendees at the UBS Global TMT Conference at 8:20 a.m. ET. His presentation will be available via webcast on Verizon’s Investor Relations website.
Verizon, a leading provider of technology and communications services, reported revenues of $133.6 billion in 2021 and is headquartered in New York City. The company specializes in data, video, and voice services, meeting demand for reliable connectivity and security.
Verizon Communications has announced a quarterly dividend of 65.25 cents per share, maintaining its previous payout level. This dividend is payable on February 1, 2023, for shareholders on record by January 10, 2023. The company, with about 4.2 billion shares outstanding, has returned approximately $8.1 billion in cash dividends over the last three quarters. Verizon's revenue was reported at $133.6 billion in 2021, emphasizing its strong position in the technology and communications sector.
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