Verizon Comms Stock Price, News & Analysis

Verizon Foundation has pledged $100,000 for humanitarian relief following the devastating earthquakes in Türkiye and Syria. The donation is split among key organizations: $40,000 to the International Rescue Committee, $30,000 to USA for UNHCR, and $30,000 to the American Red Cross. The funds will support critical efforts like cash assistance, hygiene supplies, and health services for affected communities. Verizon's CEO, Hans Vestberg, expressed deep concern for the survivors and emphasized the company's commitment to aid recovery efforts. Verizon generated $136.8 billion in revenues in 2022, illustrating its substantial financial standing.

Verizon has announced an open enrollment period for its device protection plans, allowing existing customers to sign up for Verizon Mobile Protect from February 13 to April 13, 2023. This plan offers same-day delivery and setup for replacement smartphones and includes benefits like 24/7 digital security. As devices are essential in daily life, protecting them has become increasingly crucial for users. Verizon's offering targets a broad audience, emphasizing convenience and comprehensive coverage for both accidental damage and online threats. Interested customers can enroll through their online accounts, the MyVerizon app, or in-store visits.

Verizon has announced significant upgrades to its network in Salt Lake City, enhancing 4G and 5G Ultra Wideband services in key areas, especially during high-traffic events like basketball games. With the deployment of mmWave and recently acquired C-band spectrum, Verizon aims to support large crowds efficiently. The company has installed permanent Distributed Antenna Systems (DAS) at major venues including the Salt Palace and Vivint Arena, improving coverage. Additionally, a mobile SPOT cell site will be deployed for first responders, ensuring connectivity. Upgraded fiber optic links now allow for tenfold data capacity, enhancing customer experiences.

Verizon reported a significant 36% increase in game day data usage during the Super Bowl LVII, reaching a record 47.8TB of data consumed. Approximately 60% of the attendees utilized Verizon's network, matching last year's numbers. Peak download speeds hit 4,200Mbps, with median speeds at 2,300Mbps. Verizon invested over $100 million in network enhancements in the Phoenix area, showcasing over 490 5G nodes and improving mobile service. The investment aims to benefit both fans and the local community long-term.

Verizon has released its Green Bond Impact Report, detailing nearly $1 billion in net proceeds from its fourth green bond issued in March 2022. This report confirms the full allocation of funds towards virtual power purchase agreements (VPPAs), contributing to 850 megawatts (MW) of new renewable energy capacity. Verizon aims to achieve 50% renewable energy sourcing by 2025 and 100% by 2030, supported by $4 billion in green bonds. Since 2019, it has signed 26 VPPAs for approximately 3.3 gigawatts (GW) of expected capacity, with operational projects exceeding 800 MW.

Verizon announces the winners of its inaugural 2022 Partner Network Recognition program, honoring partners excelling in six categories. The program acknowledges collaboration, customer service, and innovative solutions. Awardees include Source Inc. for Partner Innovation, Arrow Electronics/Seneca for Social Impact, and Connected Solutions Group for Operational Excellence. Other winners are ConectUS Wireless for Customer Impact, SHI International Corp. for Marketing Excellence, and Connected Solutions Group & Ingram Micro for Business Internet Growth. These winners will receive recognition at the Verizon Channel Partners Summit.

Verizon has entered a five-year partnership with the NFL to provide a Managed Private Wireless Solution for coach-to-coach communications across all 30 U.S. stadiums starting in the 2023 season. This solution, piloted at international NFL games, enhances speed, security, and reliability for critical game communications. Verizon has invested over $100 million in network upgrades around State Farm Stadium for Super Bowl LVII. A promotional 30-second commercial titled “Next Season Starts Now” will air post-game, showcasing this innovative solution. Furthermore, a sweepstakes is ongoing to give away 20 pairs of Super Bowl tickets for three consecutive years.

Verizon Wireless is offering free calls to Turkey from February 6 to 12, 2023, due to the recent devastating earthquake. This initiative allows both consumer and business customers in the United States to connect with loved ones affected by this disaster without incurring long-distance charges. Calls to Turkey will be rated at $0.00 per minute, and customers with international coverage plans can call without depleting their minutes. Additionally, Verizon is waiving international roaming and data charges for those traveling in Turkey during this period. The company aims to support communication efforts during this critical time.