Verizon Communications Inc. (VZ - Free Report) recently announced that it has collaborated with first responders and health-care professionals to provide seamless network connectivity with dedicated emergency services in the United States to tackle coronavirus related challenges. Addressing the mission-critical technology requirements of various government agencies, the move underscores the tech behemoth’s commitment to deploy its avant-garde fiber optic and wireless networks during this distressful period, which is currently challenging the world’s economic and health infrastructure.
In a concerted effort to minimize stress on public health institutions, Verizon is giving the first responders and federal agencies a priority access to their streamlined networking facilities so that they can communicate effectively not only within their departments but also with other hospitals, health care and public sector agencies, who are battling this crisis on the front line. Markedly, the much-acclaimed unit of Verizon — Verizon Response Team — which provides round the clock emergency services to various non-profit organizations (NGOs) and government agencies, continues to establish additional call centers and devise secure work-from-home strategies to prioritize network demand and ensure continuity of operations for its customers. The telecom forerunner has also committed to donate $10 million to these NGOs, which are directed at supporting students and first responder healthcare workers.
Considered to be one of the world’s leading communications services providers, the company has a track record of helping the American communities with dedicated emergency services. Verizon is coordinating with various law enforcement agencies to deploy portable cell sites across multiple quarantine areas, Emergency Operation Centers and mobile testing sites nationwide. Currently leading with more than 120 engagements of setting up free charging stations and WiFi hotspots, Verizon is focused on leveraging these platforms to boost network performance and reinforce unprecedented voice responsive services to help customers and first responders manage incoming calls amid this pandemic. As a result, in line with the COVID-19 relief efforts, these steps are likely to deliver reliable network services to customers across North America.
With one of the most efficient wireless networks in the United States, Verizon deploys state-of-the-art technologies to solve complex business challenges and deliver increased capacity, lower latency and faster speeds, backed by customer-focused planning, disciplined engineering and strategic investments. In the enterprise and wholesale business, the company is changing its revenue mix toward newer growth services like cloud, security and professional services. It intends to capitalize on the countless innovative technology solutions being developed in the IoT and telematics ecosystem across multiple industries.
Verizon is seeking competitive edge in a saturated and price-sensitive market, which includes major players like AT&T Inc. (T - Free Report) and T-Mobile US, Inc. (TMUS - Free Report) . The company aims to promote 5G innovations backed by customer-focused planning, disciplined engineering and strategic investments. The telecom bellwether aims to retain its lead in promulgating next-gen 5G mobile networks nationwide by using virtualized machines and advanced levels of operational automation, which are likely to reinforce its market position while stoking growth.
Verizon has long-term earnings growth expectation of 3.4%. The stock has lost 13.8% compared with the industry’s decline of 9.5% in the past year.
Verizon currently carries a Zacks Rank #3 (Hold).
A better-ranked stock in the industry is Telenav, Inc. (TNAV - Free Report) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Telenav surpassed estimates twice in the trailing four quarters, the positive earnings surprise being 77.1%, on average.
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