Verizon Comms Stock Price, News & Analysis

Verizon Business has announced a $250,000 donation to aid small businesses impacted by Hurricane Ian. Partnering with Collaboratory and Florida TaxWatch, the funds will provide $10,000 grants to businesses in severely affected areas of Florida. This initiative aims to address challenges faced by these businesses, including operational disruptions and property damage. Additionally, Verizon is enhancing network capacity in the disaster-affected regions, responding to a 70% increase in data traffic. The company is also offering free digital resources to support small businesses' recovery efforts.

Verizon has initiated the migration of customer traffic to its new 5G core, which boasts a cloud-native design offering exceptional service agility and automated scalability through network slicing. Built on the Verizon Cloud Platform (VCP), the core enhances operational autonomy and supports advanced applications for both consumer and enterprise customers. The 5G core facilitates real-time resource management and advanced analytics, resulting in optimized services across fixed and mobile networks. This move aligns with the increasing demand for advanced 5G capabilities and applications.

Verizon announced that government agencies can now purchase Verizon Connect Reveal, its advanced fleet management platform, via the U.S. General Services Administration (GSA) Multiple Award Schedule. This initiative offers benefits like pre-negotiated pricing, efficient service procurement, and improved timelines for RFPs for eligible agencies. Verizon Connect Reveal aims to enhance operational efficiency in vehicle management, maintenance, and driver behavior. The platform has received over 15 industry awards for its innovation, highlighting its competitive edge in fleet management solutions.

Verizon Frontline has welcomed Kara Kalkbrenner, former chief of the Phoenix Fire Department, to its First Responder Advisory Council. With 37 years in public safety, Kalkbrenner brings extensive experience in operations and management of fire services. She previously led over 2,300 professionals and managed a budget exceeding $550 million. The council advises on strategies and product developments to enhance services for first responders. Verizon Communications reported revenues of $133.6 billion in 2021 and continues to focus on delivering reliable services for public safety.

Verizon announced the establishment of a new Global Services Organization, aimed at enhancing operational efficiencies. Craig Silliman will lead this initiative as President of Verizon Global Services, overseeing shared services including finance, technology solutions, and supply chain. The restructuring is designed to streamline operations and improve vendor relationships, with an emphasis on leveraging lessons learned from the past two years. Vandana Venkatesh succeeds Silliman as Chief Legal Officer. Further details on the economic impacts will be shared on October 21 during the 3Q earnings call.

Verizon has launched two innovative home technologies: Home Awareness and Device Identification. These solutions enhance home visibility and security at no extra cost. Home Awareness leverages WiFi sensing technology to detect motion and report activity via the My Fios App. Device Identification, developed with SAM Seamless Network, allows users to monitor their home network for connected devices. Both features aim to provide customers greater control and peace of mind in managing their home environments.

Verizon is extending its support for Southwest Florida residents affected by Hurricane Ian by providing unlimited calling, texting, and mobile data until October 31, 2022. Areas benefiting include Charlotte, Collier, Desoto, Hardee, Lee, and Sarasota counties. Additionally, usage charges for JetPack data will be waived.

The company has established Wireless Emergency Communication Centers offering charging stations, free Wi-Fi, and portable power packs. The Frontline Crisis Response Team is also active, providing essential communications support to first responders.

On October 6, 2022, Verizon announced preorders for Google’s Pixel 7 series and Pixel Watch, offering significant discounts and incentives. Customers can receive up to $700 off on Pixel devices with trade-ins and eligible Unlimited plans. Additional promotions include $200 eCards for switching carriers and discounts on accessories. The launch features a unique virtual scavenger hunt called Magic Street Search, enhancing customer engagement. Both Pixel phones boast advanced 5G capabilities, improved photography, and robust security features, reinforcing Verizon's commitment to innovation and connectivity.

Verizon has launched the Verizon Forward Program, providing free 5G Home and LTE Home Internet services to qualifying households as part of its commitment to digital inclusion. Eligible customers must enroll in the FCC's Affordable Connectivity Program to access these services. By removing financial barriers, Verizon aims to enhance connectivity for low-income families, ensuring they can utilize essential online resources. The program complements the company's broader goals to support digital skills training and small businesses in the digital economy.