Verizon Comms Stock Price, News & Analysis

On October 27, 2021, Wolf Line Construction, based in North Charleston, SC, adopted Verizon Connect’s fleet management solutions, namely Verizon Connect Reveal and Verizon Connect Integrated Video. These tools enable real-time tracking of crew locations, leading to increased management efficiency and reduced fuel consumption. Fleet manager Donte Allen highlighted improvements in operational efficiency and driver safety. Verizon Connect's platform enhances overall business operations, aiding in vehicle maintenance and route optimization.

Verizon Communications announced on October 26, 2021, the initiation of 15 separate offers to purchase outstanding notes, totaling up to $4.0 billion. The offers will expire on November 24, 2021, with an early participation deadline on November 8, 2021. Holders who tender their notes early will receive a Total Consideration, which includes an early participation payment. The offers employ a waterfall methodology for note acceptance, subject to a $4.0 billion cap on total payments, excluding accrued interest. This strategic move aims to optimize Verizon's debt management.

Verizon has launched the inaugural Climate Resilience Prize, offering $500,000 to innovate solutions for climate change impacts. Applications are open from October 26 to November 30, 2021, aiming to recognize three winners at the GreenBiz 22 Conference. The prize categories include next-gen tech solutions, frontline community-led solutions, and nature-based solutions. This initiative is part of Verizon's Citizen Verizon plan focused on economic, environmental, and social advancement, aiming for net zero operational emissions by 2035 and significant CO2e reductions by 2030.

Verizon Business announced significant advancements in its IoT offerings, enabling certified IoT devices to connect with its 5G Nationwide network using existing compatible data plans. New hardware and plans, including devices compatible with 5G Ultra Wideband, are set for release in Q1 2022. The ThingSpace Intelligence suite, which utilizes machine learning for network and device management, is currently in customer trials. Additionally, a low-cost narrowband IoT module from Quectel has gained certification, enhancing the cost-effectiveness of IoT applications.

Verizon and Amazon's Project Kuiper Collaboration

On October 26, 2021, Verizon announced a strategic collaboration with Amazon's low Earth orbit satellite network, Project Kuiper. This initiative aims to enhance connectivity for unserved and underserved communities, utilizing Verizon's mobile network and Project Kuiper's satellite capabilities. The partnership focuses on expanding Verizon's 4G/LTE and 5G services and developing solutions for various industries, including agriculture and transportation. Amazon has committed an initial $10 billion to the project, aiming to improve global broadband access.

Verizon Public Sector has secured a $78 million task order with Naval District Washington to transition their legacy voice platform to a hosted Internet Protocol Voice Service (IPVS). This initiative, part of the federal government’s Enterprise Infrastructure Solutions contract, reinforces Verizon's position as a leader in public sector digital transformation. Key tasks include staffing crucial roles for cybersecurity and IT support at their Regional Operations Center, enhancing public safety operations and network reliability.

Verizon and Nissan have successfully completed a proof-of-concept focusing on sensor data processing for automotive safety, utilizing Verizon 5G Edge and Nissan's proprietary telematics. This technology aims to alert drivers to pedestrians or vehicles hidden by visual barriers. The Contra Costa Transportation Authority (CCTA) will validate this technology through its Automated Driving Systems Grant Program, with controlled deployments in Contra Costa County, CA. This advancement represents a significant step toward improved vehicle safety and the future of connected driving.

Verizon Communications reported strong performance in Q3 2021, with EPS rising to $1.55 from $1.05 in Q3 2020, marking a 47.6% increase. Operating revenue hit $32.9 billion, up 4.3% year-over-year, boosted by $1.4 billion from Verizon Media. The company saw significant customer growth, with retail postpaid net additions of 699,000 and a 3.9% increase in wireless service revenue to $17.1 billion. Verizon also updated its full-year guidance, forecasting adjusted EPS between $5.35 to $5.40 and wireless service revenue growth of around 4%.

On October 19, 2021, Verizon announced the launch of the Pixel 6 and Pixel 6 Pro, Google’s latest smartphone series, set to be available on October 28. Customers can benefit from promotional offers, including up to $700 off when switching to Verizon and trading in select devices. The new smartphones feature advanced camera systems, 5G capabilities, and a powerful Google Tensor processor. With various subscription plans, customers also receive perks like Google Play Pass and streaming services. The Pixel 6 starts at $23.33 per month, while the Pixel 6 Pro starts at $29.99.