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Verizon Communications is headquartered in New York, United States of America. This public firm has been contributing in a significant manner towards environmental projects. It has been striving for energy conservation, GHG reductions, and waste reduction activities.
Verizon Communications was established as Bell Atlantic Corporation in 1983. It was founded by AT&T Corporation. Verizon Communication acquired its present name after its merger with GTE on June 30, 2000. On February 14, 2005, Verizon Communications announced its intention to acquire MCI.
Products and services
Verizon Communications offers services in segments like wireless, telephone, internet, and television. Verizon offers residential, telephone, internet and television services to its customers. It also serves small and medium enterprises, and government organizations. Major services provided by Verizon include voice (POTS and VoIP), voicemail, video, and data.
Verizon Communications sales figure amounted to nearly $96.549 billion. Profits were around $6.265 billion. Total assets held by this firm were worth about $204.861 billion. About 235,000 employees work with Verizon Communications.
Awards and recognition
In 2007, Verizon Communications was ranked #1 in annual Customer Satisfaction Index survey conducted by University of Michigan. In 2007, PC Worldâs annual âBest and Worst ISPâ survey identified Verizon FiOS Network as best internet service provider. Verizon Communications also got âJ.D. Power and Associates Business Data Service Award for Service to Small Business Customersâ in 2007.
Current financial crisis
Telecom companies are predicted to be adversely hit by global financial crisis. Rise in capital costs, less demand for telecom services like land line and internet connections are expected to affect telecom company earnings. But Verizon officials express optimism about its business line not being affected by current financial crisis.