Verizon Comms Stock Price, News & Analysis

Verizon has partnered with Oak View Group to deploy 5G technology at three major venues: New York UBS Arena, Seattle Climate Pledge Arena, and Coachella Valley Arena. This multi-year agreement makes Verizon the exclusive 5G and wireless partner for these arenas, enhancing fan experiences through advanced solutions in public safety, crowd management, and concessions. Verizon's 5G Ultra Wideband network will offer speeds of up to 4 Gbps, enabling seamless connectivity. Additionally, Verizon is committed to sustainability, having issued a second $1 billion green bond.

Verizon Business has formed a strategic partnership with RingCentral, delivering cloud-based enterprise communication solutions that include team messaging, video meetings, and a cloud phone system. The collaboration results in the co-branded service RingCentral with Verizon, a unified communications as a service (UCaaS) solution that enhances Verizon's network-as-a-service strategy, integrating 5G, mobile edge computing, and security. This partnership aims to address the evolving needs of distributed workforces, providing a secure, flexible platform for enterprises to operate effectively.

Verizon Business has launched global IoT connectivity for mobile assets, covering 170 countries with permanent roaming in North America and Western Europe, all on a single SIM. This initiative allows organizations to manage various IoT devices, including asset trackers and sensors, via the ThingSpace platform. Industry analysts project over 150,000 IoT devices will connect every minute by 2025. Verizon's extensive experience and infrastructure support this connectivity, enabling U.S. multinationals to deploy devices across Canada, the UK, and over 10 European markets.

Verizon has achieved 4.3 Gbps speeds through a lab trial by aggregating C-band and mmWave spectrum, positioning itself for significant 5G Ultra Wideband expansion. Collaborating with Ericsson and MediaTek, the trial utilized 100 MHz of C-band spectrum with 600 MHz of mmWave spectrum, enhancing efficiency and user experience. The company plans to use the new 5G C-band spectrum in 46 initial markets in Q1 2022, with coverage expected to reach 250 million people by 2024, providing faster and more reliable connectivity for consumers and businesses.

On May 5, 2021, LaLiga North America partnered with Verizon to launch the LaLiga All-Star Gaming Challenge, a unique gaming platform for amateur FIFA gamers. Running from May 1 to November 30, the program allows participants nationwide to engage with LaLiga players and influencers through gaming challenges and tutorials. Winners may earn a trip to Spain for an immersive LaLiga experience. This initiative aims to connect LaLiga fans across major U.S. cities, enhancing community engagement through gaming.

Verizon has announced an agreement with Apollo Global Management to sell Verizon Media for $5 billion, retaining a 10% stake in the new entity named Yahoo. The deal entails Verizon receiving $4.25 billion in cash, along with $750 million in preferred interests. This acquisition is expected to propel growth in digital media and advertising technology, leveraging Apollo's expertise. Verizon Media has experienced double-digit revenue growth recently, fueled by innovations in advertising and strategic partnerships.

Verizon has announced initiatives that will exceed $3 billion in responsible business investments by 2025, aiming to bridge the digital divide in underserved communities. Key highlights include a partnership with the National 4-H Council for digital skills training and the resumption of STEM programs for young men of color and rural young women. Starting May 12, the Emergency Broadband Benefit program will offer monthly discounts on internet services for qualifying customers. Verizon's network remains the most reliable for rural customers, covering a vast area and supporting digital inclusion efforts.

Verizon's Human Capital Report outlines its commitment to workforce development and talent retention. Released on April 30, 2021, the report highlights efforts to engage over 133,000 employees in a competitive labor market, especially in the context of 5G technology. CEO Christy Pambianchi emphasized the importance of attracting diverse talent, with 50% of board members and executives being women or racially/ethnically diverse. In 2020, Verizon invested $203.6 million in employee training, aiming to upskill 100,000 employees. The company continues to embrace transparency and strive for equity and engagement within its workforce.

Peter Mitchell has been appointed general manager of Verizon Connect, effective April 29, 2021. Mitchell expands his role as the chief technology officer, previously leading product and engineering teams across multiple regions. He aims to enhance growth and innovation in SaaS-based fleet management solutions, essential for improving safety, efficiency, and productivity. Mitchell succeeds Andrés Irlando, who left for another opportunity.