Verizon is the nation's largest telecommunications company. It provides local and long distance service. wireless service, high-speed Internet access and Fios-TV service primarily in the mid-Atlantic and northeastern U.S.
Verizon has about 1,500 stores across the country that sells wireless service and phones. Verizon provides 5G, 4G LTE, Fiber Optic and Multi Edge Compute (MEC) services.
For 2021, Verizon reported total revenues of $133.6 billion, an increase of 4.1%. Net income was $22.6 billion.
Verizon's Consumer Group, which includes wireless and wireline businesses, has 115.4 million retail connections, 91.5 million postpaid connections and 13.1 million Fios subscribers. The Verizon Business Group has 27.4 million retail connections.
The company says more than one in three Consumer wireless phone customers now have a 5G-capable device.
In 2021, the company sold the Verizon Media division to Apollo Management for $5 billion. The division included Yahoo and AOL as well as Internet brands TechCrunch, Rivals and Engadget. The new company is now called just Yahoo and Verizon retains a 10% stake in the company.
Verizon was formed by the merger of Bell Atlantic and GTE in July 1998. The Verizon name comes from veritas, the Latin word connoting certainty and reliability, and horizon, signifying forward-looking and visionary.
In 2005, Verizon acquired MCI, formerly known as Worldcom.
The company spun off Verizon Directories in 2006, the second-largest publisher of phone directories in the nation. This includes the SuperPages.com directory and now trades independently on the NYSE as Idearc Inc.
Verizon acquired Terremark in 2011, a provider of IT services, for $1.4 billion.
Verizon Wireless began selling the iPad tablet from Apple in 2010 and the iPhone in February 2011.
Verizon agreed in 2013 to buy the 45% stake in Verizon Wireless owned by Vodafone for $130 billion in cash and stock. It became the sole owner of Verizon Wireless in 2014.
The company acquired AOL in June 2015 for $4.4 billion. AOL owns websites including the Huffington Post, Moviefone, TechCrunch and Mapquest.
Verizon acquired Yahoo in 2017 for $4.5 billion.
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