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 the launch of a reCharge Gaming Lounge at MetLife Stadium for select football games in December. The lounge will offer fans a unique pre-game experience, featuring charging stations, gaming activities, and appearances by former NFL players, including Madden NFL 23 gameplay. Additionally, attendees can learn about the Verizon Visa Card, which provides rewards on purchases, including 4% on groceries and 3% on dining. The lounge will operate from 11:00 AM to 3:00 PM during three home games on December 4, 11, and 18.
Verizon and Ericsson will showcase 5G innovations at the Footprint Center on December 6. The event features executives from major companies including Amazon Web Services and Ticketmaster, demonstrating various 5G applications like real-time container tracking and crowd analytics. Verizon's focus is to highlight how 5G technology can enhance productivity and innovation across industries. Moreover, Verizon has expanded its 5G Ultra Wideband deployment in Phoenix, improving connectivity for customers and public safety agencies.
Verizon Small Business Digital Ready has launched a program aimed at supporting Hispanic-owned small businesses by providing access to Spanish language resources. This initiative includes online courses, expert coaching, and personalized mentorship.
Eligible businesses can apply for a $10,000 grant from a total fund of $250,000, with a deadline of January 13, 2023, for applications. By 2030, Verizon aims to assist 1 million small businesses in thriving within the digital economy. Special discounts are also available for Business Internet customers until December 9, 2022.
Verizon Business announced a global partnership with Wipro Limited to enhance network modernization and cloud transformation through a Network-as-a-Service (NaaS) model. This collaboration aims to shift customers from traditional hardware dependency to an automated, flexible network service. An IDC survey indicated that 69% of technology decision-makers plan to invest in network transformation within the next year. Verizon's expertise is highlighted as a leader in network services, while Wipro aims to deliver operational efficiencies and agility through this innovative offering.
Verizon hosted its 2022 Partner Advisory Council (PAC) meeting in Basking Ridge, N.J., focusing on strategic planning and program evolution for 2023. The event brought together various channel partners, emphasizing collaboration to enhance service delivery. Attendees toured the Verizon 5G Boston Innovation Center and participated in volunteer activities for Operation Gratitude. Verizon's channel program received a 5-star rating from CRN in 2022, underscoring its industry leadership. In 2021, Verizon generated revenues of $133.6 billion, positioning itself as a top technology and communications service provider.
Verizon announces exclusive Black Friday offers on Apple products, including the iPhone 14 Pro, Apple Watch SE, iPad, and Beats Fit Pro, available for a limited time. New customers can receive the iPhone 14 Pro for free with trade-in and a qualifying 5G Unlimited plan. Existing customers may save up to $800 with similar trade-in options. Additionally, the One Unlimited for iPhone plan offers Apple One services, including Apple Music and Apple TV+, for up to six family members. Discounts on accessories are also available, emphasizing Verizon's commitment to delivering value.
Verizon is spreading holiday cheer with a promotional offer of a free 5G phone and additional gifts like tablets and smartwatches for customers on select plans. The initiative is celebrated in a new Spanish-language commercial featuring Cristo Fernández during the Latin GRAMMYs. Verizon also aims to support Hispanic small businesses by providing free online curriculum to aid their digital transformation. This commitment is part of Verizon's goal to assist 1 million small businesses by 2030, enhancing economic empowerment within the community.
Verizon Test Drive offers potential customers a chance to experience America’s Most Reliable 5G Network for free for 30 days. Users can access up to 100 GB of 4G/5G data with unlimited talk and text, using just an unlocked smartphone and eSIM. The program does not disrupt existing services and requires no commitment or credit checks. Customers can switch to Verizon at any time and explore different 5G Unlimited plans. With promotional offers, including up to $500 per line for new customers, Verizon aims to attract users from other carriers.
Verizon and Nextdoor commissioned a study by kindness.org revealing that Americans possess a kindness quotient of 86%, demonstrating significant neighborly care. Georgia ranks as the kindest state, followed by Tennessee and North Carolina. Key findings include that 94% of respondents would return lost items, and 61% would forgive a neighbor's debt. The study highlights the correlation between neighbor kindness and individual happiness. Verizon's #ACallForKindness campaign aims to inspire kind acts, reinforcing community bonds and well-being.
Verizon has enhanced its TravelPass and International Monthly Plan to improve connectivity for travelers. The TravelPass now offers 2GB of daily high-speed data at 5G speeds followed by unlimited 3G for $10 a day, providing significant data increases compared to previous offerings. The International Monthly Plan includes 20GB of high-speed 5G data for $100 a month, also with unlimited 3G after usage. Subscribers on specific plans receive one complimentary TravelPass day each month, totaling 12 days annually.
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