Verizon Communications provides information, communications and entertainment products and services to consumers, businesses and governmental agencies. The company offers voice, data and video services and solutions on its wireless and wireline networks. Verizon operates through two segments: Wireless and Wireline. Headquartered in Basking Ridge, New Jersey, the company has nearly 200,000 employees.
Verizon Communications has dedicated efforts to being a socially and environmentally responsible business. In a recent year, the company’s digital communications products and services helped increase efficiencies and decrease energy use to reduce greenhouse gas emissions equivalent to taking 1 million cars off the road. Additionally, 100% of Verizon’s eligible stores are Energy Star certified and it has invested over $137 million in solar and fuel cell energy. In an effort to reduce the impact of its network centers that account for more than 90% of its emissions, the company has installed energy efficient equipment to increase cooling efficiencies and is able to turn servers on or off through remote monitoring. Verizon is on track to cut its carbon emissions intensity in half by 2020. Through its device recycling program, the company has collected over 12 million phones and rewards customers who recycle wireless devices. Verizon matches its employees’ donations to charities and supports philanthropic endeavors in communities.
In 2016, Verizon Communications suffered a data breach in which the information of at least 1.5 million enterprise customers was accessed. Additionally, the company has been found guilty of gathering customer data without consent, giving United States intelligence agencies customer information and of false advertising.
Industry: Telecommunication Services
Country: United States
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 12/31/16 and may not reflect current opinions or subsequent events.