Verizon Communications, Inc.
CorporateVerizon Communications, Inc. was incorporated in the year 2000 as the result of a merger between Bell Atlantic Corporation and GTE Corporation. Verizon Communications is a Dow 30 company and a leading telecommunications services provider in the U.S. which provides broadband, wireless, and wireline communication services to business, mass markets, wholesale customers, and the government.
The name Verizon is a fusion of the words vertical and horizon. Verizon Wireless is the most trusted wireless network in the U.S. and serves more than 60 million customers.
Verizon trades on the New York Stock Exchange (NYSE) under the symbol VZ.
Verizon Communications, Inc. is a Fortune 500 Company.
ActivitiesThe Business Segments of Verizon Communications can be categorized into three parts:
- Wireline-Verizon Telecom: Wireline-Verizon Telecom is made up of the Verizon Telecom operations, which provides telephone services including voice, data, broadband, network access, long distance, video and other services to customers, small businesses, and carriers.
- Wireline-Business: Verizon Business has a customer base of 1,30,000 customers, which includes 94% of Fortune 500. Verizon Business serves 150 countries in six continents of the world.
- Domestic Wireless: Verizon Wireless operates as the domestic wireless business segment of Verizon. It offers wireless voice and data products and services throughout the United States. It uses one of the most comprehensive wireless networks.
Verizon also has some other businesses namely International Services, Long Distance, Wholesale Solutions, Verizon Enhanced Communities, Verizon Solutions Partner Program, Verizon Referral Program, Verizon's Supplier Interface.
PerformanceThe Operating Revenue for the fiscal year 2006 amounted to U.S. $ 88,144 million and for the fiscal year 2005; it was U.S. $ 69,518 million.
The following table shows the trend of Net Income of the company for the last three years:
|Fiscal Year Ended||Net Income (U.S. $-million)|
Total Assets held by the company for the fiscal year 2006 amounted to U.S. $ 188,804 million and for the fiscal year 2005 it was U.S. $ 168,130 million.
OrganizationRepresentative: Ivan G. Seidenberg, Chief Executive Officer
No of Employees: 217,000
Address:140 West Street, New York, NY