Verizon Communications, Inc. – Company Overview
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| Company | Verizon Communications, Inc. |
| Headquarters | 1095 Avenue of the Americas, New York, New York, USA |
| CEO | Lowell C. McAdam |
| CFO | Francis J. Shammo |
| Industry | Telecommunications |
| Type | Public |
| Formed | 2000 |
| NYSE stock symbol | VZ |
| Operating Revenue | $131,620 million USD (2015) |
| Operating income | $33,060 million USD (2015) |
| Net income | $18,375 million USD (2015) |
| Employees | 177,700 (2015) |
| Website | http://www.verizon.com |
| Contact number | 1-800-922-0204 |
| IR email address | A list of IR email addresses can be found here |
Verizon Communications is an American broadband and telecommunications company based in New York City. It is the second largest telecom company in the US, after AT&T.
The company provides a range of communications, information, and entertainment products and services. It operates one of America’s largest 4G LTE networks and one of the largest high-speed 3G networks. Verizon also has a prominent market position in offering fiber-optic network solutions for homes.
The company is comprised of two main strategic business segments: Wireless and Wireline.
Wireless – this segment’s products and services include wireless voice and data services and equipment sales to customers in the United States.
Wireline – focuses on broadband video and data, corporate networking solutions, data center and cloud services, security and managed network services and local and long distance voice services. It provides these services to customers in the United States and in more than 150 other countries worldwide.
Verizon is formerly known as Bell Atlantic Corporation, which was incorporated in 1983 under the laws of the State of Delaware. It started doing business as Verizon Communications in 2000 following a US$64.7 billion merger of Bell Atlantic and GTE.
It is publicly listed on the New York Stock Exchange (NYSE), under the stock ticker symbol ‘VZ’.
Verizon Communications, Inc. – Financial Results
| Key Figures (in $ millions) | 2015* | 2014* |
| Operating Revenues | $131,620 | $127,079 |
| Operating Expenses | $98,560 | $107,480 |
| Operating Income | $33,060 | $19,599 |
| Income Before Provision For Income Taxes | $28,240 | $15,270 |
| Net Income | $18,375 | $11,956 |
| Total Assets | $244,640 | $232,616 |
| Cash and cash equivalents, beginning of period | $10,598 | $53,528 |
| Cash and cash equivalents, end of period | $4,470 | $10,598 |
*Years Ended December 31, 2015 and 2014
Source: “Verizon Communications, Inc. – 2015 Form 10-K”