What is Verizon Communications?
Verizon Communications is one of the leading communication technology companies that provides innovative digital products and services to customers around the globe. The company transforms how people, businesses and things connect with each other.
What is the history of Verizon Communications?
Verizon dates back to 1877 and the founding of the Bell Telephone Company. In 1885, the company was incorporated under the name the American Telephone and Telegraph Company (AT&T). A name which it remained under until 1983 when it was split into 7 smaller regional companies.
As a result, Bell Atlantic, the company that would later merge with the General Telephone and Electronics Company (GTE), was incorporated and in 2000 they created Verizon Communications.
Since then the company has developed undertaking a number of mergers, acquisitions, divestments and partnerships, including such large names as Yahoo!, XO Communications, Fleetmatics, AOL, intel media assets, among others.
What does Verizon Communications do?
“Verizon transforms how people, businesses and things connect with each other.”
The company does this through 6 key sectors.
The Wireless Network section focuses on the roll out of 4G, 5G technologies and wireless data. In 2015 the company invested $11 million in this sector.
Broadband & Fiber focuses on the provision of 100% fiber optic broadband services to their customers.
Media & Technology (aka content and advertising) seeks to build brands people love. By forming Oath, a division born as a result of the AOL, Yahoo! and Verizon mergers, the section is home to more than 50 media and technology brands who target over 1 billion people worldwide.
The Internet of Things division looks at ‘connecting everything for a better tomorrow’, this section works to bring connected solutions to all areas of life.
Managed Security places its focus on digital security and protection from cyberattacks. Boasting 20+ years of experience, this department works to strengthen the defences against cybercrime.
The Innovation Program works with businesses and entrepreneurs to bring their ‘nontraditional connected solutions to market’. With a network 400+ members, the company focuses on the integration of wireless technology.
Who are Verizon’s main competitors?
As one of the largest names in the tech communications sector, Verizon has some tough competitors. AT&T Inc. is one of the foremost names in the list with China Mobile Ltd and the Nippon Telegraph & Telephone company following not far behind.
How does Verizon’s business look in numbers?
Boasting a total Annual revenue of $126 billion in 2016, with $9.3 billion in dividends paid in that same year, Verizon takes its place as number 14 in Fortune’s rankings.
Verizon’s headquarters and Board of Directors are located in New York City, with Executive leadership and Corporate Functions based in Basking Ridge, New Jersey. In total, Verizon is present in 150 locations worldwide, with a primary focus on the USA, the company employs 160, 100 people across their sites.
Where is Verizon traded?
Verizon is traded under the ticker VZ on the New York Stock Exchange (NYSE), it is a component of the DJIA, S&P 100 and the S&P 500.