Pins matching tag:Verizon

Verizon's third-quarter 2025 results, the first under new CEO Dan Schulman, showed adjusted EPS of $1.21 but a loss of 7,000 consumer postpaid phones, as Schulman promised to aggressively transform the company's culture and costs.

CEO Dan Schulman told staff Verizon would cut more than 13,000 jobs, its largest single layoff, and franchise 179 company-owned stores, taking a $1.6 to $1.8 billion severance charge.

The FCC waived the rule forcing Verizon alone among national carriers to unlock phones 60 days after activation, citing handset theft and trafficking; Verizon now follows the CTIA industry code until the FCC sets an industry-wide policy.

A software issue took down Verizon Wireless across the US for about ten hours, from around noon until 10:15 PM ET, with Downdetector counting more than 178,000 affected at the peak; Verizon gave affected customers a $20 credit.

California's utilities regulator approved the transfer of Frontier's California operations to Verizon with enforceable conditions, including $500 million in small-business spending, the final regulatory approval before the deal closed five days later.

Verizon closed its $20 billion purchase of Frontier Communications, making it a wholly owned subsidiary and extending Verizon's fiber reach to almost 30 million passings across 31 states and DC.

Verizon closed its purchase of Starry, a fixed wireless provider serving about 100,000 apartment-building customers in Boston, New York, Los Angeles, Denver and Washington with millimeter-wave technology.

Verizon's board authorised up to $25 billion of share repurchases and raised the quarterly dividend 2.5 percent to $0.7075, part of a plan to return about $55 billion to shareholders through 2028.

Verizon added 616,000 postpaid phones in the fourth quarter of 2025, its best quarter since 2019, met its 2025 guidance and set a 2026 outlook of adjusted EPS of $4.90 to $4.95.

Sowmyanarayan Sampath stepped down as CEO of Verizon Consumer Group, with Chief Transformation Officer Alfonso Villanueva, a former PayPal colleague of Dan Schulman's, taking over on an interim basis.

Verizon customers used 40.32 TB of data in and around Levi's Stadium on Super Bowl Sunday, 6% more than a year earlier and over five times the 7 TB of Super Bowl 50 at the same stadium, after nearly 200 network projects across the Bay Area.

Verizon posted its first positive first-quarter postpaid phone net additions since 2013, a record $13.4 billion of adjusted EBITDA, and raised its 2026 adjusted EPS guidance.

Six months after its 13,000-job cut, Verizon confirmed a new round of several hundred layoffs, under 1 percent of its workforce, falling hardest on its Basking Ridge, New Jersey campus.

The three biggest US carriers agreed in principle to form a joint venture pooling spectrum so satellite operators can reach phones directly and all but end wireless dead zones.

Verizon completed its $1 billion cash purchase of cellular, AWS and PCS spectrum licenses from Array Digital Infrastructure, the former UScellular, covering about 8 percent of the US population.

The Supreme Court ruled 8-1 that the FCC can issue forfeiture orders without a jury, upholding the ruling against Verizon over its $46.9 million fine for selling access to customers' location data and reversing AT&T's win over its $57 million fine.

As FIFA's official telecom sponsor, Verizon ran the connectivity for the 104-match tournament, adding 5G spectrum to lift capacity three to five times at every US host stadium; its network reportedly carried nearly 500 TB, 29.2 TB of it at the final.

Verizon scrapped activation and upgrade fees, launched a Verizon Dollars and Verizon Shine loyalty program for every customer, and introduced the $45 Simplicity plan with unlimited 5G Ultra Wideband for all.

Verizon, bidding as Cellco Partnership, won 82 of the 200 AWS-3 licenses in FCC Auction 113 for $3.16 billion, the bulk of the $3.57 billion the auction raised from seven winning bidders.

Verizon and BT agreed to combine their international enterprise networking arms into a 50:50 joint venture serving over 3,000 multinationals in 180-plus countries with about $4 billion in combined annual revenue; Verizon pays BT $625 million to equalize.

Verizon said it will hand 274 company-owned stores to franchise operators and cut about 500 corporate jobs, moves affecting about 3,000 employees, effective 16 August 2026.

Verizon added 184,000 postpaid phones and posted a record 40.1 percent adjusted EBITDA margin in the second quarter of 2026, raising full-year guidance for a second time and lifting its buyback target to $4.5 billion.

Verizon turned its Verizon Shine loyalty drops over to the NFL for the week before kickoff, giving away free tickets to every domestic regular-season game, 22 VIP team experiences and NFL Sunday Ticket from YouTube.

Verizon agreed to buy more than 80 million miles of Corning optical fiber from 2027 to 2032 to push toward 40-50 million broadband passings and build long-haul fiber between AI data centers.

Verizon's third-quarter 2026 results, where it has guided mobility and broadband service revenue growth to approach 3.0 percent on the way to about 4.0 percent in the fourth quarter.

AST SpaceMobile expects to start beta space-based cellular broadband with AT&T and Verizon before the end of 2026, reaching ordinary phones over Verizon's 850 MHz spectrum, though coverage will be intermittent until more satellites fly.