Verizon

Verizon (NYSE: VZ) is a US communications tech company that provides communication, technology, information, and entertainment products and services. The company was formed in 2000 through the merger of Bell Atlantic Corporation and GTE Corporation and has been listed on the NYSE since 2000. Verizon reported revenue of USD 133.9 billion in 2023.

The Verizon Consumer Group segment (~76% of total revenue) focuses on delivering wireless and wireline communication services and products to consumers. The company offers a comprehensive range of wireless services through the Verizon and TracFone brands. In terms of wireline services, Verizon operates in nine states within the Mid-Atlantic and Northeastern regions. Verizon’s wireline services, which use a 100% fiber-optic network, are delivered through its Fios product portfolio. As per Verizon, the company covers 99% of the US population with 4G LTE. The Verizon Business Group (~22% of total revenue) serves businesses, government customers, and wireless and wireline carriers across the US. 

Verizon expects revenue growth of 2.0%–3.5% in total wireless services for 2024 (compared with +3.0% YoY in 2023), while adjusted EBITDA is projected to be between USD 48.3 billion and USD 49.2 billion (compared with 47.8 billion in 2023). The company aims to achieve net-zero emissions status by 2035.