photobyphmTelecommunication businesses have historically been seen as popular choices of income investors thanks to their high dividend yields, even as the growth has peaked for most. Yet, the businesses have been out of favor, ever since the Fed hiked interest rates to 525 basis points in just 16 months, to fight inflation. The reason is twofold: Telcos require major capex investments in their infrastructure to keep up with the breakthroughs in technology, piling up debt which acts as an anchor on fut ...

NEW YORK, April 30, 2024 (GLOBE NEWSWIRE) -- Verizon Business, in collaboration with Nokia, is heading to Chicago to showcase the latest technologies driving business innovation and powering business growth at the first Innovation Session of 2024. This invite-only event will follow a curated program highlighting the transformative impact of 5G and other applications through immersive demonstrations of current and forward-looking use cases. "We're excited to bring our Innovation Sessions back to Soldier Fiel ...

Starting May 7, visit participating stores across the country to get the exclusive mercado bag designed by Hija de tu Madre as a gift with purchase NEW YORK, April 30, 2024 (GLOBE NEWSWIRE) -- May is the month of Mom at Verizon. We have offers that allow you to save big by gifting mom the latest tech, entertainment and accessories to stay connected year-round. And beginning May 7, you can also score a limited-edition Mother's Day mercado bag designed by Hija de tu Madre founder Patty Delgado when you stop b ...

NEED TO KNOW: Verizon will serve as presenting partner for Fan Appreciation Weekend, a special weekend of unique fan experiences and activations to thank fans for their support, for both the Dash and Dynamo in 2024.Additional experiences, presented by Verizon, include a pre-game festival as part of Hispanic Heritage Night.Verizon will be featured on both the Dash and Dynamo training tops for the season.The starting XI lineup, the go-to source for rosters and additional details prior to kickoff, will be pres ...

Verizon's big-time dividend is on an increasingly sustainable foundation.Verizon (VZ 1.17%) pays a monster dividend. The telecom giant yields 6.7%, several times above the S&P 500's 1.4% dividend yield.On one hand, a high dividend yield is often a warning sign that the payout is at a higher risk of getting cut if market conditions deteriorate. However, that couldn't be farther from the truth for Verizon's healthy and secure dividend. That's one of the many reasons I continue to buy shares of the big-time di ...

NEW YORK, April 26, 2024 (GLOBE NEWSWIRE) -- The U.S. Environmental Protection Agency has recognized Verizon Communications Inc. ((NYSE, NASDAQ:VZ) as a recipient of the 2024 ENERGY STAR® Partner of the Year – Sustained Excellence Award in the Energy Management category. This marks the 12th consecutive year that Verizon has been recognized by ENERGY STAR® for its ongoing leadership in protecting the environment through its numerous energy efficient milestones and achievements. Verizon has achieved 677 ENER ...

BALTIMORE, April 26, 2024 (GLOBE NEWSWIRE) -- In response to the recent tragedy at the Francis Scott Key Bridge in Baltimore, Verizon is donating $25,000 to the Maryland Tough Baltimore Strong Key Bridge Fund in collaboration with the Baltimore Community Foundation (BCF). Verizon's contribution to the Fund will help support children and families of the deceased and survivors; first responders reporting to the scene and its aftermath; and job placement programs for displaced port workers. Funding will also p ...

Financial Performance - Verizon's Consumer segment reported operating revenues of $25.1 billion for the three months ended March 31, 2024, an increase of 0.8% compared to $24.9 billion in the same period of 2023[156]. - The Business segment's operating revenues decreased by 1.6% to $7.4 billion for the three months ended March 31, 2024, down from $7.5 billion in the same period of 2023[157]. - Consolidated operating revenues increased to $32.98 billion for the three months ended March 31, 2024, a slight increase of 0.2% from $32.91 billion in the same period of 2023[165]. - Total operating revenues for the three months ended March 31, 2024, increased to $25,057 million, a 0.8% increase from $24,857 million in the same period of 2023[198]. - Wireless service revenue rose to $16,134 million, reflecting a 3.4% increase compared to $15,599 million in the prior year[198]. - Consolidated Net Income for the three months ended March 31, 2024, was $4,722 million, down from $5,018 million in the same period of 2023[182]. - Consolidated EBITDA increased to $12,155 million, slightly up from $12,025 million year-over-year[182]. - Consolidated Adjusted EBITDA rose to $12,072 million, compared to $11,902 million in the same period of 2023[182]. Expenses and Costs - Cost of wireless equipment decreased by $521 million, or 8.1%, primarily due to a 19% decrease in upgrades[167]. - Selling, general and administrative expenses increased by $637 million, or 8.5%, primarily due to higher personnel costs and increased sales commission expenses[167]. - Total operating expenses decreased slightly to $17,685 million, down 0.4% from $17,758 million in the previous year[203]. - Total operating expenses for the three months ended March 31, 2024, were $6.977 billion, a slight increase of 0.5% compared to $6.943 billion in the same period of 2023[218]. Capital Expenditures and Investments - Capital expenditures for the three months ended March 31, 2024, totaled $4.4 billion, with full-year expectations ranging from $17.0 billion to $17.5 billion[161]. - Capital expenditures decreased by approximately $1.6 billion to $4.4 billion for the three months ended March 31, 2024, compared to $6.0 billion in the same period of 2023[232]. - Verizon continues to focus on enhancing its 5G network and has obtained full access to its C-Band spectrum as of August 2023[162]. - The company is investing in fiber-based networks to support growing demand for reliable high-speed connections[163]. - Verizon's strategy includes significant capital investments to acquire wireless spectrum and enhance network capabilities[150]. Debt and Interest - Total interest expense increased to $1,635 million for the three months ended March 31, 2024, up 35.5% from $1,207 million in the same period of 2023[176]. - Average debt outstanding was $152,754 million, with an effective interest rate of 5.0% for the three months ended March 31, 2024[176]. - Total debt increased to $151.7 billion as of March 31, 2024, from $150.7 billion at December 31, 2023, with an effective interest rate rising to 5.0% from 4.6%[238]. Taxation - Provision for income taxes decreased to $1,353 million, an 8.7% decline from $1,482 million in the prior year[177]. - The effective income tax rate for the three months ended March 31, 2024, was 22.3%, down from 22.8% in the prior year[177]. - Unrecognized tax benefits remained at $2.7 billion as of March 31, 2024, with interest and penalties related to these benefits at $650 million[178]. Cash Flow and Dividends - Net cash provided by operating activities decreased by $1.205 billion to $7.084 billion for the three months ended March 31, 2024, compared to $8.289 billion in the same period of 2023[229]. - Free cash flow for the three months ended March 31, 2024 was $2.708 billion, an increase of $377 million compared to $2.331 billion in the same period of 2023[247]. - The company paid $2.8 billion in cash dividends during the three months ended March 31, 2024, compared to $2.7 billion in the same period of 2023[243]. Competition and Market Conditions - The company faces significant competition in its markets, impacting pricing, promotional incentives, and consumer preferences[263]. - Adverse economic conditions, including inflation and changing interest rates, may affect the company's operations in both U.S. and international markets[263]. Risks and Challenges - There are performance issues and delays in the deployment of the 5G network, which could lead to increased costs and reduced benefits[263]. - Cyber attacks pose a risk to the company's networks and systems, potentially leading to financial and reputational damage[263]. - The company is exposed to disruptions from natural disasters, extreme weather, and geopolitical factors, which could impact operations and infrastructure[263]. - High levels of indebtedness may affect the company's financial stability and operational flexibility[265]. - Changes in tax laws or regulations could result in additional tax expenses or liabilities for the company[265]. - Significant litigation could incur material expenses for the company in defending against lawsuits or paying settlements[265]. - The company is at risk of adverse changes in credit ratings, which could affect financing costs and availability[265]. - Changes in accounting rules or interpretations may impact the company's earnings and financial reporting[265]. Acquisitions and Agreements - The company acquired TracFone Wireless, Inc. for approximately $3.5 billion in cash and stock, with contingent consideration of up to $650 million based on performance measures[260]. - The company amended its revolving credit facility in March 2024, increasing its capacity from $9.5 billion to $12.0 billion and extending the maturity to 2028[241]. - The company recorded a pre-tax charge of $106 million related to a legacy legal matter during the three months ended March 31, 2024[228].

NEW YORK, April 25, 2024 (GLOBE NEWSWIRE) -- Research has shown that the average U.S. household has over $11,000 worth of home technology products1. As the number of devices we rely on at home continues to increase, so does the need to protect them. For $25/month (plus applicable taxes), customers can repair and replace an unlimited number of eligible home technology products such as TVs, tablets, laptops, wearables and gaming devices with Verizon Home Device Protect.2 Beginning April 25, customers with Ver ...

jetcityimage Overview I previously covered Verizon (NYSE:VZ) at the tail end of December in 2023. Since then, we've experienced a total return of over 10%. My thesis at the time was focused around the idea that VZ has just made the 2024 Dogs Of The Dow list and I expected a recovery movement in price as additional capital came rolling in. Now, I want to take a look at what the actual valuation would be in terms of price targets and other calculated metrics. While there was some upside since my initial cover ...