Storied telecom titan Verizon Communications (VZ 0.07%) had its ups and downs over the past year, and they were reflected in its stock price. Shares languished well below $40 for much of 2023, reaching a 52-week low of $30.14 last October.But in recent months the stock has bounced back, hitting a 52-week high of $43.21 at the end of January. The share price dipped again recently, so is now the time to invest in Verizon?Before deciding to buy, it's best to dig into where Verizon is currently at given the sto ...

NEW YORK, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Verizon Communications Inc. ("Verizon") ((NYSE, NASDAQ:VZ) today announced the commencement of five separate offers to purchase the outstanding series of debt securities listed in the table below (collectively, the "Notes") up to an aggregate principal amount of €1.5 billion. We refer to each offer to purchase a series of debt securities for cash as an "Offer" and collectively as the "Offers." The Offers are made on the terms and subject to the conditions set fort ...

Testing1 shows users experienced significantly better performance on Verizon than the competition NEW YORK, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Verizon customers shared the championship game's biggest moments, consuming a record amount of data on Verizon's network in and around Allegiant Stadium in Las Vegas, Nevada. Game Day Facts On game day, Verizon fans used 52.34 TB of data in and around the stadium, the equivalent of playing HD video continuously for 3.3 years.The data usage by Verizon customers was up ...

WASHINGTON, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Today, Verizon, along with a consortium of industry carriers, vendors and developers, was awarded a grant from the National Telecommunications and Information Administration (NTIA) to drive testing and evaluation of O-RAN compliant wireless infrastructure. The work of this consortium will focus on refining and driving standards, equipment and interoperability to accelerate O-RAN across the globe, especially as it relates to multi-vendor performance. The award of ...

ToplineRumors that one of the music industry's biggest stars will make a cameo in a Super Bowl commercial for Verizon have seemingly been confirmed by the company after it dropped a new teaser for the ad that features a silver sequin-studded horse eerily similar to the one Beyoncé rides on the cover of her 2022 "Renaissance" album.The horse display is seen during the World Premiere of "Renaissance: A Film By Beyoncé" at Samuel ... [+] Goldwyn Theater on Nov. 25, 2023 in Beverly Hills, California.WireImage f ...

Verizon Communications Inc. (VZ) recently partnered with Vonage to launch Verizon network Application Programming Interfaces (API) on the Vonage platform to allow seamless integration of different software systems. The partnership is expected to foster brand loyalty and deeper engagements among the core customers, enhancing their overall experience and trust.Headquartered in New Jersey, Vonage became a wholly-owned subsidiary of Ericsson in 2022. This global leader in cloud communication services offers a c ...

Verizon Communications (VZ) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this largest U.S. cellphone carrier have returned +5.3%, compared to the Zacks S&P 500 composite's +5.1% change. During this period, the Zacks Wireless National industry, which Verizon falls in, has lost 0.5%. The key question now is: What could be the stock's future direction?Alt ...

Bruce Bennett Thesis Verizon Communications Inc. (NYSE:VZ) stands to benefit from the transition to 5G, with its strong 4G network. The company has taken several steps to spur revenue growth, including targeted price hikes and a lineup of unlimited plans. The business segment will benefit going forward from the 5G enterprise services, a market that is expected to grow at a CAGR of 32.6% till 2032 to $47.07 billion. Verizon's broadband segment is expanding rapidly, while the retirement of legacy products in ...

Financial Performance - Verizon's total operating revenues for the year ended December 31, 2023, were $133.974 billion, a decrease of 2.0% from $136.835 billion in 2022[354]. - The company's net income for 2023 was $12.095 billion, down 44.4% from $21.748 billion in 2022[356]. - Verizon's operating income decreased to $22.877 billion in 2023, compared to $30.467 billion in 2022, reflecting a decline of 25.1%[354]. - Verizon's basic earnings per share attributable to common shareholders decreased to $2.76 in 2023 from $5.06 in 2022, a decline of 45.5%[354]. - Total comprehensive income for 2023 was $12.580 billion, down from $20.810 billion in 2022, reflecting a decrease of 39.6%[356]. - Verizon's interest expense increased to $5.524 billion in 2023, compared to $3.613 billion in 2022, marking a rise of 52.9%[354]. - Total current assets decreased to $36,814 million in 2023 from $37,857 million in 2022, reflecting a decline of 2.8%[358]. - Cash and cash equivalents at the end of the period were $3,497 million, down from $4,111 million in 2022, representing a decrease of 15%[359]. - Long-term debt decreased to $137,701 million in 2023 from $140,676 million in 2022, a reduction of 2.1%[358]. - Total equity increased to $93,799 million in 2023 from $92,463 million in 2022, reflecting a growth of 1.4%[358]. Revenue Segmentation - The company reported Enterprise and Public Sector revenues of $15.1 billion in 2023, accounting for approximately 50% of the Business segment's total revenues[21]. - Business Markets and Other revenues reached $12.7 billion in 2023, representing approximately 42% of the Business segment's total revenues[24]. - Wholesale revenues were $2.3 billion in 2023, making up approximately 8% of the Business segment's total revenues[25]. - The company's service revenues and other for 2023 were $109.652 billion, slightly up from $109.625 billion in 2022[354]. Network and Technology - The company’s 5G network, utilizing C-Band spectrum, covers approximately 242 million people in the U.S. as of December 31, 2023[32]. - The 4G LTE network covers approximately 330 million people, excluding areas served by LTE in Rural America partners[33]. - The company has approximately 3.1 million FWA broadband connections as of December 31, 2023[16]. - The company is transforming its network architecture into the Intelligent Edge Network to enhance performance and simplify operations[31]. - The company’s global IP network provides connectivity to Business customers in over 190 countries, supporting the demand for cloud-based solutions[40]. - The company holds spectrum licenses covering nearly all of the U.S. population, including low and mid-band spectrum for mobile and fixed wireless services[41]. Competition and Market Dynamics - The telecommunications industry remains highly competitive, with factors such as network reliability, pricing, and customer service influencing market dynamics[45]. - Competition is intensified by aggressive pricing, promotions, and the emergence of new competitors, including MVNOs and smaller wireless providers merging with larger ones[46]. - The company faces competition from major players like AT&T and T-Mobile, as well as resellers such as Comcast and Charter Communications[47]. - Increasing competition is also expected from technology companies like Microsoft and Apple, which offer alternative messaging and voice services[48]. - The market is shifting from traditional linear video to OTT offerings, with customer migration from traditional voice services to wireless services continuing[49]. Employee and Workforce - As of December 31, 2023, the company employed approximately 105,400 individuals, with 89% based in the U.S., and has a commitment to diversity and inclusion in its workforce[65][67]. - The company engages with unions representing approximately 24% of its employees, with collective bargaining agreements extending through August 1, 2026[68]. Debt and Financial Obligations - As of December 31, 2023, approximately 76% of the total debt portfolio consisted of fixed-rate indebtedness, with a potential annual interest expense change of approximately $379 million for a 100-basis-point change in floating rate debt[327]. - The fair value of long-term debt and related derivatives was $150.058 billion as of December 31, 2023, with a sensitivity analysis indicating a fair value range of $142.551 billion to $158.912 billion for a 100-basis-point shift[330]. - The fair value of interest rate swaps was $4.5 billion as of December 31, 2023, with a total notional amount of $26.1 billion[331]. - The fair value of cross currency swaps was $762 million as of December 31, 2023, with a total notional amount of $33.5 billion[334]. - The company posted $1.4 billion of collateral related to derivative contracts under collateral exchange agreements as of December 31, 2023[326]. - The company transitioned outstanding debt and derivative transactions from LIBOR to the Secured Overnight Financing Rate by June 30, 2023, with no significant impact on financial position[328]. - The company is exposed to foreign currency risks primarily related to the British Pound Sterling, Euro, Australian Dollar, and Swedish Krona[332]. - The total notional amount of foreign exchange forwards was $1.1 billion as of December 31, 2023[335]. Goodwill and Impairment - The goodwill related to Verizon's Business Group reporting unit was $1.7 billion as of December 31, 2023, representing 0.4% of total assets[348]. - An impairment charge of $5.841 billion was recorded for the Business reporting unit during the year[354]. - The company incurred a goodwill impairment of $5,841 million related to the Verizon Business Group[359]. - Goodwill impairment testing is performed annually in the fourth quarter or more frequently if impairment indicators are present[400]. Capital Expenditures and Investments - Capital expenditures, including capitalized software, were $18,767 million in 2023, down from $23,087 million in 2022, a decrease of 18.5%[359]. - Verizon completed the acquisition of TracFone Wireless, Inc. for approximately $3.5 billion in cash and stock, with additional contingent consideration of up to $650 million[452]. - Verizon made payments of $257 million and $188 million related to contingent consideration for TracFone in 2023 and 2022, respectively[453]. Revenue Recognition and Contracts - The company recognizes revenue from contracts with customers primarily through telecommunications services and equipment sales, adhering to GAAP standards[370]. - The allowance for credit losses is reassessed quarterly based on management's expectations, considering factors such as historical experience and current macroeconomic conditions[392]. - The company recognizes revenue from telematics services primarily through subscription contracts, with revenue recognized over time[385]. - Advertising revenues are generated through display and search advertising, with revenue recognized as ads are delivered[384]. - The company completed the sale of Verizon Media on September 1, 2021, which primarily earned revenue through display advertising[384]. - Consumer group contracts with traditional wholesale resellers typically extend longer than two years, with some including minimum revenue commitments[437]. - As of December 31, 2023, the total transaction price related to unsatisfied performance obligations expected to be recognized in 2024, 2025, and thereafter is $25.7 billion, $18.7 billion, and $7.5 billion, respectively[438]. - Contract liabilities increased by $668 million during the year ended December 31, 2023, primarily due to increases in sales promotions and upfront fees[442]. - Revenue recognized related to contract liabilities for the years ended December 31, 2023, and 2022 was $4.9 billion and $5.0 billion, respectively[442]. - Total contract assets as of December 31, 2023, amount to $814 million, a slight decrease from $863 million in 2022[444]. - Deferred contract costs totaled $5,395 million as of December 31, 2023, compared to $5,104 million in 2022[448]. - The company recognized $3.2 billion in expenses for the amortization of deferred contract costs in 2023, up from $3.0 billion in 2022[449].

NEW YORK--(BUSINESS WIRE)--Total by Verizon, a fast-growing prepaid no-contract wireless carrier from Verizon, is bringing back '90s Latin dance music and laughter to the Big Game with a new take on the hit merengue song “Suavemente.” The :30 spot is directed by comedian, producer, and musician Fred Armisen. Topping the charts and winning hearts worldwide, “Suavemente” quickly became a Spanish-language standard in Latin music. The new “Totalmente” campaign, created by Ogilvy, flips the song on its head, ...