Verizon Comms Stock Price, News & Analysis

Verizon and AWS announced the launch of 5G mobile edge compute with AWS Wavelength, now live in Boston and the Bay Area. This partnership allows developers to create innovative applications benefiting from ultra-low latency and high bandwidth, essential for industries like healthcare and sports. Notably, use cases include real-time machine learning for medical procedures and enhanced analytics for sporting events. Verizon aims to expand the 5G Edge to more cities by the end of 2020, aiming to provide speeds 10 times faster than 4G.

Verizon has announced the preorder dates for Samsung's new Galaxy Note20 series, starting August 6. The lineup also includes the Galaxy Z Fold2 5G and Galaxy Tab S7 5G tablets, both supporting Verizon's 5G Ultra Wideband network. The Galaxy Note20 starts at $999.99, while the Note20 Ultra starts at $1,299.99. The Galaxy A51 5G UW, priced at $549.99, will be available on August 13, serving as Verizon's most affordable 5G smartphone. With extensive 5G capabilities, these devices offer enhanced gaming and productivity features, as well as attractive trade-in promotions.

Verizon Ventures has led a €4 million ($4.5 million) Series A financing round in PICadvanced (PICa), a Portuguese developer of optical solutions for telecom applications. Established in 2014, PICa specializes in NG-PON2 technology, enhancing network capacity and reducing costs per bit. The investment will enable Verizon to enhance its optical access network, crucial for 5G deployments. The NG-PON2 market is projected to grow to over $2 billion by 2024, indicating significant potential for both Verizon and PICa in the telecom sector.

The South Carolina Office of Regulatory Staff has partnered with Verizon to provide discounted Internet access for up to 150,000 K-12 students lacking connectivity at home. This initiative is part of the CARES Act funding and Governor Henry McMaster’s AccelerateSC plan aimed at enhancing distance learning during the pandemic. The program will deliver 4G LTE Internet service and devices, crucial for students to continue education remotely. Verizon's senior vice president highlighted the need for reliable Internet as schools prepare for the upcoming academic year.

Verizon has successfully completed its first 5G global roaming trials, becoming the first US operator to offer a commercially ready 5G global roaming service. Customers traveling to South Korea can use 5G services with compatible devices, achieving average speeds of 252 Mbps downlink and 119 Mbps uplink during trials. This marks a significant step towards global 5G interoperability, with plans for further partnerships in other countries. Verizon aims to leverage its leadership in 5G technology for various industries, enhancing connectivity for consumers and enterprises worldwide.

Verizon Public Sector announced the appointment of Jennifer Chronis as the new head of its Federal business starting in early August. With over 25 years of experience, including a notable role at Amazon Web Services, Chronis has a robust background in partnering with federal agencies to improve efficiency and innovation. She has been recognized as one of the Top 25 DOD Executives to Watch. This leadership change follows the departure of Michael Maiorana at the end of 2020.

Verizon Communications Inc. (NYSE: VZ) reported second-quarter 2020 results with EPS of $1.13, up from $0.95 in 2019, while adjusted EPS was $1.18, down from $1.23. Operating revenues declined 5.1% year-over-year to $30.4 billion, leading to a cash flow increase of $7.7 billion to $23.6 billion for the first half. Total debt fell by $4.9 billion, and net debt declined by $5.7 billion. Wireless service revenue decreased by 1.7% year-over-year, with a total of 352,000 retail postpaid net additions. The outlook remains cautious, expecting adjusted EPS growth between -2% and 2% for 2020.

Verizon has partnered with the Georgia Department of Education to facilitate distance learning for K-12 students across 10 U.S. states amid the Covid-19 pandemic. This initiative aims to provide access to reliable 4G LTE Internet and security solutions for up to 12.5 million students in states including Alabama, Florida, and Virginia. The program allows eligible schools to benefit from discounted service plans and mobile device management solutions. The partnership addresses the urgent need for connectivity as schools adapt to hybrid learning environments.