Verizon Communications is a leading telecommunications company that provides a wide range of technology, information, communications, and entertainment solutions.
The telecom firm is a holding company that operates through several subsidiaries under the following reportable segments:
• Consumer Group
• Business Group
Verizon Consumer Segment
The company provides a wide range of wireless and wireline communication services and products to consumers through this segment, including prepaid and postpaid plans, data package, etc. The company provides wireline services in nine states in the Northeastern US and Mid-Atlantic region as well as Washington.
Verizon Business Segment
This unit focuses on both business-related wireless and wireline communications services and products. The firm provides various other services, including video and data services, business networking facilities, network management and security services, and local and long-distance voice services.
Verizon claims to provide more than 90 million retail connections and five million broadband connections.
The telecom service provider operates video services business through Fios Video Connections, and it claims to cater to over 3.5 million customers.
The wireline connection services include local and long-distance telephone connections, internet and broadband connections and digital television services.
The company also provides various wireless equipment such as smartphones, smartwatches, laptops, tablets, computers, etc.
On June 30, 2000, New York-based Bell Atlantic Corporation and GTE Corp (formerly known as General Telephone & Electronics Corporation) merged to create Verizon Communications Inc in reportedly one of the largest mergers in the US history, the company claims.
The name is said to have been derived from Latin word ‘veritas’ and English word ‘horizon’.
The company acquired AOL Inc in 2015 and expanded its video and advertisement services business.
The stocks are listed on the New York Stock Exchange and NASDAQ and trade under the symbol 'VZ'.
It claims to be among the Forbes Global 2000 and Best Employers for Diversity list for the current year.
The telecom company claims to operate the world’s largest fiber optic network and provides services in nearly 180 countries.