QUOTE AND NEWS
New York Times  10 hrs ago  Comment 
Verizon retreated on some major points and gained tools for paring down its work force in the tentative pact reached with unions representing nearly 40,000 striking workers.
Motley Fool  May 29  Comment 
The telecom giant said it doesn't see why it wouldn't eventually bring ultra-fast wireless broadband to the entire country.
Motley Fool  May 27  Comment 
Verizon's tablet net adds declined nearly 40% year over year.
New York Times  May 27  Comment 
The accord, after a walkout by nearly 40,000 workers that begin in mid-April, is said to include two key concessions by the company.
Wall Street Journal  May 27  Comment 
MarketWatch  May 27  Comment 
Verizon Communications and its labor unions have reached an agreement in principle that could end a weekslong strike, with Labor Secretary Thomas Perez saying he expects workers to be back on the job next week.
Forbes  May 27  Comment 
The officers and directors of a company tend to have a unique inside view into the business, so when these insiders make purchases, investors are wise to take notice. Presumably the only reason for a company insider to choose to take their...
Benzinga  May 27  Comment 
Verizon Communications Inc. (NYSE: VZ) is working with investment bankers at Bank of America Corp (NYSE: BAC) as part of the bidding process to acquire Yahoo! Inc. (NASDAQ: YHOO)'s internet assets. Reuters, citing "people familiar with the...
Yahoo  May 27  Comment 
NEW YORK/SAN FRANCISCO (Reuters) - Verizon Communications Inc is working on its bid for Yahoo Inc's core assets with an investment bank which was, as recently as last year, one of the U.S. internet company's top advisers, people familiar with the...
TheStreet.com  May 26  Comment 
AT&T  made a bid for Yahoo!  and continues to be a contender to acquire the Sunnyvale, CA-based company's core internet business, according to sources cited by Bloomberg Wednesday. Shares of AT&T are slightly higher by 0.31% to $38.62...




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Verizon Communications (NYSE: VZ) is a U.S. telecommunication company and provider of fixed-line, wireless, television, and data services. Its wireless division, Verizon Wireless, is a joint venture with Vodafone and represents the largest subscriber base with 94.1 million customers and 102.1 million total connections.[1]. In fiscal year 2010, Verizon recorded revenues of $106.6 billion and net income of $2.5 billion.

Verizon's main business segments are its wireless and wireline segments. In 2010, to jumpstart its wireline business segment, which has experienced increased competition as customers switch to wireless products or less expensive alternatives such as VoIP technology, VZ has delved deeply into its Fiber-to-the-Home (FTTH) service, FiOS, investing over $20 billion in 2010[2].

Company Overview

Verizon Communications was formed in 2000 with the merger of Bell Atlantic and GTE Corp, and offers a wide array of wireline and wireless voice and data transmission services via approximately 41.4 million residential and commercial access lines throughout the United States. After Verizon completed its $28.1 billion acquisition of Alltel in January 2009, Verizon Wireless became the largest wireless carrier in the United States.

Business Segments

In FY2010, Verizon growth reported record-high profitability as it continued to drive higher smartphone adoption and data use. Verizon recorded revenues of $106.6 billion and net income of $2.5 billion. Verizon's main business segments are Verizon Wireless and Verizon Wireline.

Verizon Wireless (60% of revenue ($63.4 billion) in FY2010[3])

Verizon Wireless is the largest provider of wireless voice and data services in the United States[4]. The business segment is a joint venture between Verizon and Vodafone; with Verizon holding a 55% stake in Verizon Wireless, and Vodafone holding the remaining 45%, it has controlling power over the company’s operations.[5]. Its services include basic local and long distance wireless voice services, text messaging, music downloads, navigation and Internet access, V CAST Music and V CAST Mobile TV. The company has more than 25 multimedia phones that allow customers to browse and download songs, and the first true mobile TV service in the nation. (See 3G concept page for additional information on third-generation wireless technology.)

Verizon Wireless boasts a customer network of approximately 94.1 million customers[6]. It has also positioned itself as the go-to Android smartphone provider, with over 9 million subscribers[7].

Competitors

Both of Verizon Communications’ business segments are competitive players in the telecommunications industry. Its wireless business, which boasts the largest subscriber base, competes with other U.S. wireless carriers, including AT&T, Sprint, and T-Mobile. Its wireline business, which constantly faces challenges from new and potentially disruptive technologies, include non-wireline telecommunications providers such as VoIP, high-speed internet companies, and cable companies such as Time Warner Cable and Cablevision Systems (CVC).



References

  1. "Verizon Communications Reports Continued Strong Growth in Cash Flow, Wireless and FiOS in Q," Verizon Investor Relations, 10/22/2010
  2. Analyzing Verizon's FiOS Bet. Seeking Alpha (August 19, 2008).
  3. "10-K"
  4. Verizon Wireless Completes $28.1B Alltel Buy, January 9, 2009
  5. Verizon Communications 2007 10-K, Pg. 7
  6. "Verizon’s network ready for Apple’s iPhone thanks to Android," VentureBeat, 10/13/2010
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