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 launched its innovative 5G Edge Accelerated Access solution to enhance safety and guest experiences at venues. This opt-in service uses video analytics, facial authentication, and ticket scanning to streamline entry and reduce congestion, reducing costs simultaneously. Part of Verizon's broader investment in over 75 public venues, this solution aims to improve access control and VIP management, ultimately enhancing operational efficiency. With a revenue of $133.6 billion in 2021, Verizon continues to strengthen its position as a leader in technology and communications.
Verizon has released its 2022 Payment Security Report (PSR) alongside the PCI DSS v4.0 changes set for 2024. The report highlights a significant rise in compliance, from 27.9% in 2019 to 43.4% in 2020. However, 56.7% of organizations failed their interim assessments due to security control gaps, though the gap improved from 7.7% to 4.0%. The report emphasizes the need for organizations to adapt to increasing cybersecurity threats and the introduction of new compliance standards, advocating for a structured security strategy.
Verizon Business has restructured its leadership team, effective August 2022, to enhance its capacity for digital transformation and meet growing demand for 5G solutions. The revised team, led by CEO Sampath Sowmyanarayan, aims to accelerate growth by leveraging existing strengths. New appointments include Aparna Khurjekar as Chief Revenue Officer for Business Markets, and Jennifer Artley as Senior Vice President for 5G Acceleration. This strategic shift is designed to strengthen Verizon's position as a market leader and ensure it effectively serves its global customer base.
Verizon Business has appointed Sanjiv Gossain as the new Group Vice President and Head of EMEA, succeeding Scott Lawrence, who moves to Senior Vice President, Global Solutions. Gossain, previously with Cognizant, brings a strong record of growth, especially in digital transformations, making him well-suited for the role. He will report to Massimo Peselli, Chief Revenue Officer for Enterprise and Public Sector. Verizon, a leading provider in technology and communications, generated $133.6 billion in revenues in 2021, serving 98% of Fortune 500 companies.
Verizon announces the launch of the iPhone 14 lineup, available for preorder starting September 9. Customers can benefit from exclusive offers on the One Unlimited for iPhone plan, including a new iPhone 14 Pro for free with eligible trade-in. The plan also includes Apple One services, providing an annual value of up to $480 for families. Verizon's 5G Ultra Wideband network now reaches over 152 million people. The iPhone 14 features advanced camera systems and safety capabilities like Crash Detection, further enhancing user experience on Verizon's network.
Verizon has launched One Unlimited for iPhone, a unique plan that bundles Apple One, featuring Apple Music, Apple TV+, Apple Arcade, and iCloud+. This offering is exclusive to Verizon and provides up to $480 in annual value for families. Available on Verizon's 5G Ultra Wideband network, which covers over 152 million Americans, this plan supports unlimited high-speed data. Customers can enjoy higher network performance starting at $50 per line monthly, with additional discounts for connected devices and eligible accounts.
Verizon is taking significant measures in California to alleviate pressure on the state's power grid amid extreme temperatures. During the Flex Alert from 4:00 - 9:00 p.m. PT, the company will switch six mobile centers to backup generators. This proactive step aims to conserve energy for residents and businesses. Additionally, Verizon will adjust store temperatures, reduce HVAC use, and encourages customers to save energy at home. With $133.6 billion in revenue for 2021, VZ continues to provide essential services while prioritizing network reliability.
Manon Brouillette, executive vice president and CEO for Verizon Consumer, will speak at the BofA Securities 2022 Media, Communications & Entertainment Conference on September 8, 2022, at 11 a.m. ET. The event will be webcast live, with access available on Verizon’s Investor Relations website.
Verizon, a leading provider of technology and communications services, generated $133.6 billion in revenue in 2021. Headquartered in New York, it delivers data, video, and voice services through its robust networks, meeting customers' needs for mobility and connectivity.
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