Verizon Comms Stock Price, News & Analysis

Verizon has partnered with the New York Hall of Science and Snap to launch "Science City Explorers", an innovative augmented reality experience in New York City. This program allows users to learn about the science behind everyday public objects, such as fire hydrants and stop signs, through a Snapchat Lens available exclusively to Verizon 5G customers and a 4G version for all Snapchat users. The initiative aims to deliver equitable STEM learning opportunities, encouraging children to explore their neighborhoods. Users who engage with the Lens can earn a free ticket to the New York Hall of Science. Verizon's 5G network enhances the experience by providing low latency and high-speed connectivity for real-time learning.

Verizon has recently upgraded its network in Miami, enhancing customer experience just ahead of the Miami Grand Prix and summer travel season. The multi-year network redesign aims to accommodate increasing data demands and provide personalized services. Key upgrades include:

• 94% 5G Ultra Wideband coverage, with new cell sites enhancing capacity in Doral and Aventura.
• Deployment of mmWave spectrum for faster speeds and increased capacity.
• 60 MHz of recently acquired C-band spectrum set to enhance service by year's end.
• Upgraded fiber optic connections capable of carrying ten times more data.

According to RootMetrics, Verizon leads in overall network performance in Miami, showing peak download speeds of up to 265 Mbps. Enhanced services facilitate IoT applications, home internet reliability, and business connectivity.

Verizon has launched its Small Business Days from April 27 to May 3, providing support and resources for small businesses, particularly Hispanic-owned enterprises. As part of this initiative, Verizon announced $250,000 in grants distributed to 25 Hispanic small business recipients across major cities including Chicago and San Diego. Their program, Verizon Small Business Digital Ready, aims to aid businesses in enhancing their technology, marketing, and operational costs. A study revealed that 74% of Hispanic businesses have embraced digital tools, yet only 32% applied for private loans or grants. The company also highlights the significant need for mentorship and external support, especially in technology adoption. These initiatives align with Verizon's broader goal of aiding 1 million small businesses by 2030.

Verizon Communications reported its Q1 2023 results, showcasing a 5.3% increase in total wireless postpaid phone gross additions year-over-year and a $1.5 billion rise in cash flow from operations. Earnings per share (EPS) reached $1.17, up from $1.09 in Q1 2022, though adjusted EPS fell to $1.20. Total operating revenue was $32.9 billion, down 1.9% from the previous year, while net income increased by 6.5% to $5.0 billion. The company also achieved its largest broadband net additions in over a decade, totaling 437,000. However, it reported 127,000 postpaid phone net losses. Looking ahead, Verizon anticipates wireless service revenue growth of 2.5% to 4.5% and adjusted EBITDA of $47.0 billion to $48.5 billion for 2023.

Verizon, a key technology partner of the NFL, will showcase its enhanced 5G network during the 2023 NFL Draft Weekend in Kansas City. Network upgrades include a Distributed Antenna System at the Kansas City International Airport and four new macro cell sites to bolster coverage. Verizon’s median download speed has surged by 39% in the region, with a consistent lead in network performance across key metrics.

Additionally, Verizon will host 'Small Business Days' from April 27 to May 3, offering complimentary tech checks and promotions. The company will also engage fans with 5G experiences at the Draft, including meet-and-greet events with NFL stars. Verizon's ongoing partnership with NFL Green will see tree-planting initiatives in Kansas City, underscoring its commitment to sustainability.

Verizon Communications Inc. (NYSE: VZ) is set to release its first-quarter 2023 earnings on April 25, 2023, during a webcast beginning at 8:30 a.m. ET. Investors can access detailed results and commentary on Verizon’s Investor Relations website starting at 7:00 a.m. on the same day. In 2022, Verizon generated revenues of $136.8 billion, maintaining its position as a leading technology and communications service provider globally. The company's diverse offerings include data, video, and voice services, reinforcing its commitment to delivering reliable network connectivity and security solutions to customers.