Summary of Verizon Communications Inc. Conference Call Company Overview - **Company**: Verizon Communications Inc. (NYSE: VZ) - **Event**: J.P. Morgan's 52nd Annual Global Technology, Media and Communications Conference - **Date**: May 21, 2024 Key Points Industry and Company Strategy - Verizon has transitioned through multiple phases: focusing on network improvement, asset mix optimization, and now generating returns on investments [2][4] - The company has established three growth engines: wireless for consumer and business, broadband for consumer and business, and private networks [4] - Verizon's capital allocation priorities include investing in the business, increasing dividends (17 years of growth), and reducing debt to a target leverage of 2.25x net debt to EBITDA [5][59] Financial Performance and Growth - The company has seen sequential improvement in the wireless consumer postpaid business every quarter since implementing new strategies [13] - Verizon's CapEx has decreased, with a current range of $17 billion to $17.5 billion, down from previous years [5][59] - The company aims to maintain a strong cash flow and EBITDA growth while managing debt levels [59] Consumer Wireless Business - Verizon's consumer wireless postpaid segment is undergoing a turnaround, with new offerings and incentives aimed at improving market traction [12][13] - The company has adjusted pricing for 32 million lines, managing churn effectively despite market challenges [21] - The introduction of flexible and customer-friendly plans has been a key focus, with ongoing enhancements based on consumer insights [12][19] Prepaid Business - The prepaid segment, including brands like Visible and Total by Verizon, is performing well, with new management and strategies in place [28][29] - The company is addressing challenges in the prepaid market, including the impact of the Affordable Connectivity Program (ACP) [24][26] Network and Technology - Verizon has built a robust mobile edge compute network, which is expected to support AI applications and private networks [36][37] - The company is focused on expanding its fixed wireless access (FWA) capabilities, particularly in suburban and rural areas [46][48] - Verizon's strategy includes maintaining a multipurpose network to serve various customer segments efficiently [51] AI and Innovation - Verizon has a three-pronged AI strategy focusing on process improvement, new products, and revenue generation through AI at the edge [55] - The company has launched several AI-driven products aimed at enhancing customer service and operational efficiency [56] Spectrum and Regulatory Environment - Verizon's acquisition of C-Band spectrum for $53 billion positions the company well for future growth, although there are concerns about the availability of new spectrum [39][41] - The company emphasizes the importance of spectrum for competitiveness and investment in the U.S. market [41][44] Future Outlook - Verizon is focused on expanding its total addressable market (TAM) and exploring new revenue streams while managing existing operations effectively [52] - The leadership team is committed to achieving financial targets and exploring options for capital allocation as leverage decreases [59] Additional Insights - The company acknowledges the importance of wireless and broadband services in today's economy, especially post-COVID [19] - Verizon's proactive approach to customer engagement and retention is seen as a competitive advantage [48] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting Verizon's focus on growth, innovation, and financial management in a competitive landscape.

EL PASO, Texas, May 21, 2024 (GLOBE NEWSWIRE) -- Verizon Frontline will demonstrate a number of its innovative public safety solutions, specifically designed to deliver mission-critical communications to first responders, at the Border Security Expo taking place in El Paso, Texas May 21-23 at the El Paso Convention Center. Border Security Expo is the largest and longest-standing event where the border community can exchange ideas, expand networks and experience new and developing technologies. "Verizon is c ...

For media: we have b-roll, pictures and additional information on our emergency response equipment available at our Emergency Resource Center. What you need to know: Verizon is waiving domestic call/text/data usage costs incurred by postpaid consumer customers, small business customers* and Verizon Prepaid customers in storm affected areas in Texas and Louisiana. The waiver will be in effect between Friday, May 17 through Thursday, May 23, 2024. For prepaid customers using Straight Talk, Tracfone, Total by ...

For media: we have b-roll, pictures and additional information on our emergency response equipment available at our Emergency Resource Center. What you need to know: Verizon is waiving domestic call/text/data usage costs incurred by postpaid consumer customers, small business customers* and Verizon Prepaid customers in storm affected areas in Texas and Louisiana. The waiver will be in effect between Friday, May 17 through Thursday, May 23, 2024. For prepaid customers using Straight Talk, Tracfone, Total by ...

NEW YORK, May 17, 2024 (GLOBE NEWSWIRE) -- Hans Vestberg, Chairman and CEO of Verizon ((NYSE, NASDAQ:VZ), is scheduled to speak at the J.P. Morgan Global Technology, Media and Communications Conference on Tuesday, May 21, at 8:50 a.m. ET. His remarks will be webcast, with access instructions available on Verizon's Investor Relations website, www.verizon.com/about/investors. Verizon Communications Inc. ((NYSE, NASDAQ:VZ) was formed in 2000 and is one of the world's leading providers of technology and communi ...

Over the past couple of months, Verizon Communications Inc. (VZ) has been deploying innovative, human-assisted GenAI applications that streamline processes and ensure positive customer engagements.These cutting-edge tools ease the business processes with Verizon and reduce the cognitive load on store and customer service employees. Designed to work alongside human representatives, these AI tools act as personal guides, leading customers to the best solutions and offers available. This approach allows Verizo ...

Core Insights - Verizon Communications is betting on artificial intelligence (AI) as a major growth driver, expecting AI demand to surpass video traffic in the near future [1][2] - The company aims to double its network capacity over the next five years to accommodate the increased data transmission needs driven by AI [1] - AI is anticipated to transform various operational aspects within Verizon, enhancing efficiency and customer service [1][3] AI Integration and Customer Service - Verizon has integrated AI software from Google into its customer service operations, empowering 40,000 customer relations agents [2] - The AI tool monitors calls for human sentiment and tone, allowing supervisors to intervene when customers show frustration [2] - Routine processes such as bill inquiries and payment details will be automated, enabling agents to focus on more complex customer needs [2] Infrastructure and Strategic Positioning - The company has strategically positioned its infrastructure to handle the expected surge in AI-related traffic, investing in spectrum acquisition [3] - During a recent earnings call, Verizon's CEO emphasized the need to create an AI-centric revenue stream through mobile edge computing capabilities [3] - The CEO highlighted generative AI workloads as a significant long-term opportunity, aiming to enhance network performance and organizational efficiency [3]

Verizon Communications Inc. (NYSE:VZ) MoffettNathanson Media, Internet & Communications Conference May 14, 2024 9:00 AM ET Company Participants Sowmyanarayan Sampath - EVP and CEO for Verizon Consumer Group Conference Call Participants Craig Moffett - MoffettNathanson Craig Moffett Welcome, everybody, and thank you for joining us. Hopefully, my mic has been fixed since the last session. So -- for those of you that are joining us on the webcast. This is the 11th Annual MoffettNathanson Conference. And I star ...

NEW YORK, May 14, 2024 (GLOBE NEWSWIRE) -- Verizon is enhancing the customer experience through new GenAI tools that are reimagining and improving the way the company serves its customers. In recent months, Verizon has been developing – and deploying – industry-leading, human-assisted GenAI applications to simplify experiences and help make every interaction a positive one. These new tools make it simple to do business with Verizon and help reduce the cognitive load on store and customer service partners. T ...

Smithfield, Rhode Island, garage to deploy electric fleet and charging infrastructure for Fios vehicles.Deployment part of Verizon's goal to achieve net-zero operational emissions by 2035.Verizon operates one of the largest private fleets in the United States. SMITHFIELD, R.I., May 13, 2024 (GLOBE NEWSWIRE) --  Verizon is powering its sustainability commitments by rolling out its first electric fleet in Smithfield, Rhode Island. The Smithfield Garage Work Center (GWC) is the first Verizon garage in the nat ...