- is one of the world’s leading providers of communications, technology, information and entertainment products and services
- In January 2022, the company successfully deployed C-Band spectrum, reaching approximately 100 million people in the U.S.
Verizon Communications Inc. (NYSE:VZ, LSE:0Q1S) is a holding company that, acting through its subsidiaries, is one of the world’s leading providers of communications, technology, information and entertainment products and services to consumers, businesses and government entities. With a presence around the world, the company offer data, video and voice services and solutions on its networks and platforms that are designed to meet customers’ demand for mobility, reliable network connectivity, security and control.
Verizon partners with Reset Digital and Yahoo to Drive Diverse Media Outcomes
10/27/2022; – Verizon, Reset Digital and Yahoo announce a new partnership designed to help Verizon improve audience engagement through the use of Reset Digital’s advertising network. Since the pilot launch in August 2022, the partnership has enabled Verizon to reach a new multicultural audience.
3Q 2022 Results
- Total consolidated operating revenue in third-quarter 2022 of $34.2 billion, up 4.0 percent from third-quarter 2021. Wireless service revenue growth and higher wireless equipment revenue more than offset wireline declines and the net impact of merger and acquisition (M&A) activity in 2021.
- Total wireless service revenue growth of 10.0 percent year over year, primarily driven by the company's ownership of TracFone, continued effectiveness in its premium Unlimited strategy and ongoing strength in Business volumes.
- Verizon is focused on continuously improving operating efficiencies and mitigating inflation impacts, and has started a new cost savings program that is expected to provide a reduction in annual costs of between $2 billion and $3 billion by 2025.
- Net income of $5.0 billion, a decrease of 23.3 percent from third-quarter 2021, and adjusted EBITDA1 of $12.2 billion, a decline of 0.4 percent year over year.
- Year-to-date cash flow from operating activities totaled $28.2 billion, compared with $31.2 billion in 2021. The reduction was primarily due to working capital impacts from higher device activations, and increased inventory levels.
- Capital expenditures year-to-date were $15.8 billion, including C-Band spending of $4.5 billion.
- Free cash flow year to date was $12.4 billion.
- Verizon's unsecured debt as of the end of third-quarter 2022 decreased by $1.1 billion sequentially to $131.4 billion. The company's net unsecured debt balance decreased sequentially by $1.3 billion to $129.3 billion, and its net unsecured debt to adjusted EBITDA ratio at quarter-end was approximately 2.7 times.
Verizon Communications Inc. (Verizon or the Company) is a holding company that, acting through its subsidiaries, is one of the world’s leading providers of communications, technology, information and entertainment products and services to consumers, businesses and government entities. With a presence around the world, the company offer data, video and voice services and solutions on its networks and platforms that are designed to meet customers’ demand for mobility, reliable network connectivity, security and control.
Verizon has two reportable segments that the company operate and manage as strategic business units - Verizon Consumer Group (Consumer) and Verizon Business Group (Business).
Verizon Consumer Group
The company's Consumer segment provides consumer-focused wireless and wireline communications services and products. The company's wireless services are provided across one of the most extensive wireless networks in the United States (U.S.) under the Verizon brand and through wholesale and other arrangements. The company also provide fixed wireless access (FWA) broadband through its wireless networks. The company's wireline services are provided in nine states in the Mid-Atlantic and Northeastern U.S., as well as Washington D.C., over its 100% fiber-optic network through its Verizon Fios product portfolio and over a traditional copper-based network to customers who are not served by Fios. On November 23, 2021, the company completed the acquisition of TracFone Wireless, Inc. (Tracfone), a provider of prepaid and value mobile services in the U.S.
In 2021, the Consumer segment’s revenues were $95.3 billion, representing approximately 71% of Verizon’s consolidated revenues. As of December 31, 2021, Consumer had approximately 115 million wireless retail connections, approximately 7 million wireline broadband connections, which includes Fios and Digital Subscriber Line (DSL) internet connections, and approximately 4 million Fios video connections.
Verizon Business Group
The company's Business segment provides wireless and wireline communications services and products, including data, video and conferencing services, corporate networking solutions, security and managed network services, local and long distance voice services and network access to deliver various Internet of Things (IoT) services and products. The company also provide FWA broadband through its wireless networks. The company provide these products and services to businesses, government customers and wireless and wireline carriers across the U.S. and select products and services to customers around the world.
In 2021, the Business segment's revenues were $31.0 billion, representing approximately 23% of Verizon’s consolidated revenues. As of December 31, 2021, Business had approximately 27 million wireless retail postpaid connections and approximately 477 thousand wireline broadband connections, which includes Fios and DSL internet connections.
Capital Expenditures and Investments
The company continue to invest in its wireless networks, high-speed fiber and other advanced technologies to position itself at the center of growth trends for the future. During the year ended December 31, 2021, these investments included $20.3 billion for capital expenditures, inclusive of approximately $2.1 billion in C-Band related capital expenditures. See "Cash Flows Used in Investing Activities" and "Liquidity and Capital Resources" for additional information. The company believe that its investments aimed at expanding its portfolio of products and services will provide its customers with an efficient, reliable infrastructure for competing in the information economy.
In January 2022, the company successfully deployed C-Band spectrum, reaching approximately 100 million people in the U.S. as of February 2022.
the company has footprints in every corner of the world.
- 150 locations around the world
- 2,770 cities reached by its IP network
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