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 partners with Microsoft to offer Xbox All Access starting July 28, 2022. Customers can obtain an Xbox Series S or Series X console and two years of Xbox Game Pass Ultimate for as low as $24.99 per month with 0% APR. This program provides access to hundreds of games including day one releases. Additionally, Verizon's fast 5G services enhance gameplay with ultra-low latency. Special offers on accessories are also available. This collaboration aims to strengthen Verizon's position in gaming and expand its digital service offerings.
Verizon Communications reported its Q2 2022 financial results, showing earnings per share (EPS) of $1.24, down from $1.40 in Q2 2021. Total revenue remained relatively flat at $33.8 billion, while net income declined 10.7% to $5.3 billion. Wireless service revenue increased by 9.1% year over year to $18.4 billion, but total operating revenue was impacted by declines in wireline services. The company adjusted its full-year guidance, expecting EPS of $5.10 to $5.25.
Verizon Frontline will honor first responders with ceremonial laps at two NASCAR Cup Series™ races: the Pocono Raceway on July 24 and the Indianapolis Motor Speedway on July 31. A fleet of public safety vehicles will participate, showcasing Verizon Frontline's commitment to critical communications. The event aligns with Pocono Raceway’s ethos of honoring military and emergency personnel. Additionally, fans will witness the debut of a new Verizon Frontline paint scheme on Team Penske’s No. 22 Ford Mustang, driven by Joey Logano, emphasizing the partnership with the public safety community.
Verizon announces significant savings for back-to-school shoppers, offering up to $800 off on 5G phones with select trade-ins and plans, plus an additional $200 for new customers switching to the network. Customers can also save up to 50% on accessories such as earbuds and chargers. Special discounts of up to $25/month are available for teachers and students on 5G Unlimited plans, along with a $19.99/month offer for 5G Home Internet. This initiative highlights Verizon's commitment to providing affordable technology solutions in a challenging economic environment.
Verizon Business has partnered with Virginia International Terminals to establish a private 5G Ultra Wideband network at The Port Of Virginia, enhancing high-bandwidth industrial operations and secure networking. This marks Verizon's second deal with an international port and its first with a U.S. terminal. The 5G network will enable VIT to test autonomous truck technologies and improve logistical efficiencies. In the last fiscal year, VIT handled 3.7 million TEUs, generating approximately $47 billion in state gross product.
Verizon Communications Inc. (NYSE: VZ) is set to report its Q2 2022 earnings on July 22, 2022, with a webcast presentation starting at 8:30 a.m. ET. The earnings news release and financial tables will be available on Verizon's Investor Relations website at 7:30 a.m. ET. In 2021, Verizon achieved revenues of $133.6 billion, highlighting its status as a leading provider of technology and communications services globally.
Verizon has launched a new service called Get Help - Caregiver Alert, designed to assist caregivers for loved ones using Apple Watch. The service connects users automatically with their Trust Circle contacts when a hard fall is detected. Available exclusively for select Apple Watch models, it allows caregivers to receive alerts, view locations, and initiate group messaging. The first 30 days are free, after which the service costs $5 per month. Verizon aims to enhance caregiving through technology, with an emphasis on safety and independence.
Verizon has once again excelled in network performance, securing the RootMetrics® US Overall RootScore® Award for the 18th consecutive time. This remarkable achievement emphasizes Verizon's leading position, outperforming competitors by delivering the best 5G data reliability. The report highlights Verizon's top awards for overall performance, reliability, and accessibility across 96% of the tested metro markets. RootMetrics conducted extensive tests, covering over 260,000 miles, affirming Verizon's unmatched network experience and technological strength.
Verizon Business has launched the SumUp Plus Card Reader, allowing its small and midsize business customers to tap into SumUp's extensive merchant network of over four million globally. The card reader, priced at $19.99, enables seamless payment acceptance via Bluetooth on Verizon devices, with a competitive 2.75% transaction fee. This partnership highlights Verizon's commitment to supporting digital transformation for its clients. SumUp, established in 2012, has raised over $1.6 billion and operates in more than 35 countries.
Verizon Public Sector has secured an over $400 million task order under the Enterprise Infrastructure Solutions (EIS) program with the FBI to enhance its network infrastructure.
The partnership aims to improve data bandwidth and operational efficiency, integrating critical technologies to support various applications including cloud computing and video transmissions.
This initiative follows nearly 20 years of collaboration, ensuring high-speed connectivity and resilient virtual private network services for the FBI's mission-critical operations.
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