Verizon Communications Inc. reports developments across its telecommunications business, including wireless service performance, broadband connectivity, enterprise services and network technology. Company updates commonly address postpaid phone activity, customer economics, cash flow, guidance, investor conference appearances and capital markets actions involving outstanding Verizon and subsidiary notes.
News also covers Verizon's network resilience and public-safety capabilities, including Digital Twin damage modeling, satellite-enabled disaster connectivity, private 5G, fixed wireless access and broadcast solutions. Partnership and sponsorship updates describe how Verizon uses 5G, fiber and venue network design to support connected experiences for customers, businesses, broadcasters and large events.
Summary not available.
Verizon's network has been recognized as best overall in RootMetrics' 1H 2020 report, winning six of seven categories, including reliability and overall performance. The report is the first to include 5G results, highlighting exceptional speeds on Verizon's 5G Ultra Wideband. Key metrics show a network reliability RootScore of 95.9, leading in speed awards with 41 out of 55 metros. Verizon aims to expand its 5G network this year, reinforcing its position as a top-tier service provider with revenue of $131.9 billion in 2019.
Verizon Communications (NYSE: VZ) declared a quarterly dividend of 62.75 cents per share, marking a 1.25 cent increase from the previous quarter. The dividend will be payable on November 2, 2020, to shareholders on record by October 9, 2020. This announcement signifies Verizon's 14th consecutive year of dividend increases. The company has around 4.1 billion shares outstanding and distributed approximately $5.1 billion in cash dividends in the first half of 2020, reflecting its strong financial position.
Verizon is enhancing the security of its 5G network through innovative technologies and initiatives. Recently, their Network Security engineers successfully conducted trials to address potential security threats, ensuring the network's reliability and resilience. Key advancements include integrating AI/ML for automated decision-making and troubleshooting, developing a Secure Credentialing Management System for connected vehicles, and implementing Machine State Integrity to detect data tampering. Additionally, Verizon released a white paper detailing the security measures across its 5G network, underscoring its commitment to user data protection.
Verizon is pioneering the use of Quantum Key Distribution (QKD) technology in the U.S., recently conducting a successful trial in the Washington D.C. area. This initiative aims to enhance data security against potential cyber threats by utilizing quantum physics to create secure cryptographic keys, which are crucial in protecting communications. The trial involved real-time encrypted video streams between several Verizon locations, showcasing the capability of QKD to detect eavesdroppers. Verizon's advancements position it as a leader in the telecommunications sector's security innovations.
Federal lawsuit filed against Yahoo's founders and successors, including Oath Holdings (Verizon Communications, NYSE: VZ), claims they aided Chinese authorities in the arrest and torture of activist Ning Xianhua. The lawsuit highlights a series of confidential agreements that allegedly allowed the Chinese regime to monitor emails of pro-democracy dissidents. Ning, a survivor of the Tiananmen Square massacre, was subjected to severe abuse after his communications were disclosed. The allegations raise serious questions about corporate complicity in human rights violations.
Verizon Media has expanded its omnichannel programmatic platform through a partnership with DISH Media, allowing automated access to DISH's household addressable ad inventory. Advertisers can now access both traditional linear channels and CTV/OTT media, including SLING TV, enhancing monetization opportunities. This move comes as US consumers increase their TV viewing time, now averaging 229 minutes per day. The partnership offers benefits like flexibility, efficiency, and quality scale, enabling advertisers to seamlessly manage their campaigns across different channels while improving audience targeting.
Verizon has announced the preorder for the Samsung Galaxy Z Fold2 5G starting on September 2, with general availability on September 18. The Galaxy Z Fold2 5G will cost $83.33 per month for 24 months, retailing at $1,999.99. Customers can save up to $700 by trading in their old devices when switching to Verizon. Additionally, the Galaxy Tab S7 5G series will also be available, with prices starting at $35.41 per month. Both devices leverage Verizon’s 5G Ultra Wideband network for enhanced performance.
The Navajo Nation has partnered with Verizon to enhance cellular coverage in Window Rock and Chinle, Arizona, amid the Covid-19 pandemic. This initiative involves deploying two Satellite Cell on Light Trucks (satCOLT) to provide 4G LTE service for up to 1,000 users, supporting local hospitals and government operations. Vice President Myron Lizer expressed gratitude for Verizon's assistance in maintaining connectivity for the Navajo Nation's 175,000 citizens. Verizon, a leading global communications provider, generated revenues of $131.9 billion in 2019.
On August 27, 2020, Verizon announced a $1 million donation to aid Hurricane Laura relief efforts in Louisiana and Texas. The funds will be split equally between the American Red Cross and the Community Foundation of Southwest Louisiana. Verizon's CEO, Hans Vestberg, emphasized the company's commitment to helping affected communities. Additionally, from August 27 to September 1, Verizon will provide unlimited calling, texting, and data to customers in specific areas impacted by the hurricane. The Verizon Response Team is active in the region, coordinating resources for first responders.