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 donated $25,000 to the American Red Cross to support relief efforts following the Mountain Fire in Ventura County, which destroyed over 200 homes. The company's cell sites remained operational throughout the fire, providing essential connectivity for residents, businesses, and first responders. This donation follows a previous $25,000 contribution made earlier this year in response to the Line, Bridge and Airport wildfires. Verizon's network resilience is maintained through year-round engineering efforts, including backup power solutions and redundancy measures across critical sites.
Verizon Frontline Crisis Response Team has supported the U.S. Forest Service during the harvest of the 2024 U.S. Capitol Christmas Tree from Tongass National Forest in Alaska. The team provided critical communications solutions to assist in the tree's transportation from Alaska to Washington, D.C.
The deployment showcases Verizon Frontline's capability to deliver emergency assistance through portable cell sites, Wi-Fi hotspots, and charging stations. This service is provided 24/7 at no cost to supported government agencies and emergency responders.
The initiative demonstrates Verizon's commitment to supporting unique operations while strengthening relationships with public safety and government agencies they typically assist during crisis situations.
Verizon has donated $25,000 to Hopelink in response to a major storm that caused power outages throughout Washington. The funding will provide food assistance to communities affected by the severe weather event in the Pacific Northwest. Hopelink's food program offers fresh and healthy food at no cost to households, particularly important now as extended power outages have caused food spoilage for many families. The donation aims to support families experiencing poverty and food insecurity in King County, Washington, who have been severely impacted by the recent bomb cyclone.
Verizon successfully conducted a trial in Boston demonstrating the transportation of 1.6 terabits per second of data across a single wavelength on its live metro fiber network using Ciena's WaveLogic 6 Extreme coherent optical solution. This advancement enables faster and farther data transmission while improving reliability and energy efficiency. The upgrade positions Verizon's network to better handle AI workloads, particularly for Generative AI applications requiring real-time analysis of billions of data points. The company's multi-year network transformation includes cloud-native architecture deployment, high-performing spectrum implementation, and fiber infrastructure capacity expansion.
Verizon Communications (NYSE, NASDAQ: VZ) announced the accepted amounts and pricing terms for its tender offers covering six series of debt securities. The company will settle all validly tendered securities accepted for purchase on November 26, 2024. The tender offers include various notes due between 2025 and 2026, with Total Consideration ranging from $963.47 to $1,012.50 per $1,000 principal amount. The Extended Early Participation Date and Expiration Date is set for December 9, 2024. Verizon will continue to accept securities for purchase until the Expiration Date as the aggregate Total Consideration has not exceeded the Waterfall Cap.
Verizon (VZ) announced early results for its tender offers to purchase six series of debt securities. As of November 21, 2024, significant portions of various notes were tendered: 38.13% of 3.376% notes due 2025, 42.68% of Floating Rate notes due 2025, 43.98% of 0.850% notes due 2025, 48.63% of 1.450% notes due 2026, 51.26% of Floating Rate notes due 2026, and 43.44% of 2.625% notes due 2026.
The company extended the early participation date to December 9, 2024, which coincides with the offers' expiration date. Settlement for securities tendered by the original early participation date is scheduled for November 26, 2024.
Verizon announces relief measures for customers affected by the Pacific Northwest storm, waiving domestic call/text/data usage charges from Nov. 21-27, 2024, for prepaid and postpaid customers in Washington's King, Skagit and Snohomish counties. The company's prepaid brands are extending service end dates to November 27. Verizon's engineers are focusing on restoring connectivity and maintaining service through refueling operations at sites without commercial power. No action is required from customers as overages will be automatically credited.
Verizon has introduced several GenAI-powered tools to enhance holiday shopping experience. The improved myVerizon app offers a complete retail store experience, with over half of customer accounts using it 2-3 times monthly. The company's Personal Research Assistant reduces call times by 30 seconds, while the Personal Shopper and Problem Solver cuts transaction times by three minutes. Additional services include Express Lockers for same-day device pickup, Pro on the Go for home delivery and setup, and various holiday offers combining tech, streaming services, and brand perks.
Verizon Business has secured a new 5-year agreement with the U.S. Department of Agriculture (USDA), valued at $21 million in the first year. The contract will provide wireless services and service-enabled devices supporting over 60,000 lines of service, with potential for mobile broadband expansion across USDA field offices. The partnership aims to enhance USDA's connectivity capabilities nationwide, supporting its mission in modern agriculture and rural development through improved data management, streamlined operations, and enhanced decision-making capabilities.
Verizon has achieved a significant milestone by deploying the first-ever O-RAN-based Distributed Antenna Systems (DAS) with multi-vendor interoperability at The University of Texas Moody Center and Austin Convention Center. The systems integrate Samsung vDU with Commscope DAS using O-RAN interfaces, demonstrating successful vendor interoperability in a commercial setting. This deployment reduces costs related to power, space, and cooling by eliminating unnecessary RF equipment while improving reliability. Verizon has already deployed over 130,000 O-RAN capable radios in its network, showcasing its commitment to advancing O-RAN technology and fostering innovation in the RAN ecosystem.
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