Verizon Comms Stock Price, News & Analysis

Verizon Business's fifth annual State of Small Business Survey reveals a significant surge in AI adoption among small to midsize businesses (SMBs), with usage doubling from 14% in 2023 to 39% in 2024. Despite economic concerns, SMBs are investing more in technology than in the past three years, particularly in internet upgrades and online operations.

Key findings include:

• 84% of SMBs use Facebook for promotion and customer engagement
• 66% have upgraded their internet bandwidth
• 83% worry about rising inflation's impact on their business
• 59% believe their business will be in a better economic position next year
• 52% of retailers are preparing for an in-store-first holiday season

Verizon Business is offering Small Business Days from October 14-20, providing special deals, free tech checks, and personalized consultations. The company aims to support one million small businesses by 2030 through its Small Business Digital Ready platform, offering free digital skills training.

The Verizon Foundation has announced a $2 million donation to support relief efforts for communities affected by Hurricane Helene and Hurricane Milton. The donation includes:

• $1 million to the American Red Cross for emergency relief and recovery efforts
• $400,000 to Volunteer Florida for Hurricane Milton relief
• $600,000 to organizations in Georgia and North Carolina for Hurricane Helene relief

The funds will support immediate needs such as food and shelter, as well as long-term recovery and rebuilding initiatives. Verizon's Chief Responsible Business Officer, Donna Epps, emphasized the company's commitment to supporting communities in times of need. Representatives from recipient organizations expressed gratitude for Verizon's contributions and highlighted the impact these donations will have on affected communities.

Verizon has announced a $50,000 donation to Los Angeles Mission in honor of World Mental Health Day. This marks the second consecutive year of support for the organization's seasonal weather disaster relief efforts. The funding will help expand services and provide critical supplies to the unhoused population of Los Angeles County during severe weather events.

The donation aims to address the physical and mental well-being of unhoused individuals facing extreme weather conditions. It will enable Los Angeles Mission to increase its capacity and secure vital supplies for protection during severe weather events. Verizon's support aligns with World Mental Health Day, recognizing the connection between stable housing, mental health, and overall well-being.

This initiative is part of Verizon's broader commitment to social responsibility and bridging the gap for underserved communities through corporate giving and volunteer efforts.

Verizon is offering relief to customers in Florida affected by Hurricane Milton. From Oct. 9th to Oct. 23rd, 2024, the company will waive domestic call, text, and data usage for postpaid consumer and Verizon Small Business customers in 32 specified Florida counties. This offer is automatic, requiring no action from customers, and any overages will be credited back.

Leigh Anne Lanier, Atlantic South Market President, emphasized Verizon's commitment to supporting customers before, during, and after the storm, recognizing the critical need for connectivity during uncertain times. The relief offer applies to all postpaid consumer and Verizon Small Business customers (with 50 lines or less) in the affected areas.

Verizon has announced a new round of $10,000 grant funding opportunities for small businesses through its Small Business Digital Ready platform. The program offers free access to online courses in English and Spanish, mentorship, coaching, and community events. To be eligible, businesses must register on the platform and complete at least two courses, coaching sessions, or community events between July 1 and December 13, 2024.

The initiative has already reached over 350,000 small businesses nationwide, with 51% being women-owned and 62% Black or Hispanic-owned. Verizon has also introduced a 'Small Business Funding Marketplace' in partnership with Next Street, allowing business owners to search for loan and grant opportunities based on their needs. Additionally, the platform now features 'Learning Paths' to guide users through resources that help achieve specific business goals.

Verizon is preparing for Hurricane Milton's approach to Florida, emphasizing its readiness to maintain connectivity for communities and first responders. The company has implemented a comprehensive response plan, including:

1. A hardened network designed to withstand extreme conditions
2. Preparation of backup systems like batteries and generators
3. Staging of portable network solutions and mobile generators
4. Deployment of the Verizon Frontline Crisis Response Team to support public safety agencies

Verizon also offers tips for businesses and residents to prepare for the hurricane, such as updating contact information, testing backup networks, and stocking up on power supplies. The company encourages customers to utilize satellite communication features on compatible devices and to stay informed through Verizon's Online Emergency Resource Center.

Verizon (NYSE, Nasdaq: VZ) plans to expand its Fios high-speed broadband service to over 3,000 underserved addresses in Jamestown and Westerly, Rhode Island. This expansion, in partnership with the Rhode Island Commerce , includes $3.6 million in funding from the American Rescue Plan Act (ARPA). The project will deploy more than 54 miles of fiber, offering plans with speeds of at least 300 Mbps starting at $35 per month when bundled with a Verizon mobile plan. Select areas will have access to Fios 2 Gig plans for $84.99 per month. Construction is expected to be completed by the end of 2026, bringing reliable internet service to power how residents work, live, and play in underserved parts of the state.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) will report its third-quarter 2024 earnings on Tuesday, October 22. The company will release detailed information, including management commentary, earnings news release, and financial tables, at 7:00 a.m. ET on its Investor Relations website. Additionally, Verizon will host a live sell side analyst meeting at 9:00 a.m. ET on the same day, where CEO Hans Vestberg and senior leadership will discuss Q3 results, provide a strategic broadband update, and hold a Q&A session with analysts. Access instructions and presentation materials will be available on Verizon's Investor Relations website. In 2023, Verizon generated revenues of $134.0 billion, serving millions of customers worldwide and nearly all Fortune 500 companies.

Verizon Communications (NYSE, Nasdaq: VZ) has appointed Santiago "Yago" Tenorio as Chief Technology Officer and SVP of Strategy and Technology Enablement. Tenorio, with over 25 years of experience in the wireless industry, will report to Joe Russo, Executive VP & President of Global Network and Technology. His role will focus on advancing 5G use cases, partnering for new technology advancements, and mapping out future technologies for Verizon customers.

Tenorio's background includes significant achievements at Vodafone, where he led high-performance teams and was recognized for his expertise in Open RAN, Cloud Networking, and Network APIs. He previously served as CTO for Vodafone Ireland and Chief Network Officer in the UK, successfully managing network coverage for the 2012 London Olympics. Tenorio was recently elected Fellow of the Royal Academy of Engineering in the UK, a prestigious honor in the engineering field.