With recent increases in telecommuting and online learning,
Verizon’s networks stand ready to serve customers at work, at home
and remotely – including first responders and those protecting the
public -- when critical connectivity is needed most.
Since the emergence of the coronavirus (COVID-19), the company
has not seen a measurable increase in data usage - despite some
businesses, schools and other organizations now asking employees to
work remotely and students to take classes online. Verizon’s
networks are designed and built to meet future demand and are ready
should demand increase or usage patterns change significantly.
In addition, Verizon announced today that it is increasing its
capital guidance range from $17 - $18 billion to $17.5 - $18.5
billion in 2020. This effort will accelerate Verizon's transition
to 5G and help support the economy during this period of
disruption.
“We’re looking towards the future and increasing our investments
so that we’re poised to offer even more robust networks, to meet
future demands, in the years to come,” said Hans Vestberg, Verizon
Chairman and CEO. “We are very confident in our company’s
ability to meet current demands in providing a great network
experience.”
Vestberg added: “Our customers -- including critical government
and public safety agencies -- rely on us for proven reliability. I
want to thank our dedicated Verizon employees who continue to work
tirelessly, day in and day out, to ensure our essential
communications services are available to our customers so they can
stay connected where and when they need it most.”
Verizon has been closely monitoring network usage in the most
impacted areas. The company will work with and prioritize network
demand in assisting the needs of many U.S. hospitals, first
responders and government agencies.
“Verizon operates its networks every day as though it’s a snow
day -- events when millions of Americans work from home while
family members go online to watch videos, play games and talk and
text to their friends and families,” said Kyle Malady, Verizon’s
chief technology officer. “Delivering reliable networks is what we
do. While this is an unprecedented situation, we know things are
changing, and we are ready to adjust network resources as we better
understand any shifts in demand. We have the best engineers in the
world monitoring the situation closely.”
With years of steady month-over-month wireless data usage
growth, as a standard practice, the company’s engineers are
constantly adding capacity on the wireless and fiber networks to
better serve customers. The network improvements are often
recognized by independent third party reviews including recent
research by RootMetrics, which has ranked Verizon first in overall
performance and reliability in each of their last 13 consecutive
drive test reports.
Recent technological advancements including the addition of
small cells, deployment of carrier aggregation, MIMO antenna
technology advancement, use of shared spectrum such as License
Assisted Access (LAA) and Citizens Band Radio Spectrum (CBRS), 256
QAM, and fiber advancements have increased efficiency in the
wireless and fiber networks resulting in greater capacity and speed
for customers.
Networks that our customers count
on
“We continually evaluate peak data usage times and build our
networks to stay ahead of that demand,” said Malady. “While we may
see the hours where peak data usage shifts from evening to daytime,
our network is built to manage evolving demands. While it is not
clear yet how having millions of additional people working from
home will impact usage patterns, we are ready to address changes in
demand, if needed.”
Like any crisis or significant event in which additional network
resources may be needed, the company is able to deploy additional
resources to add capacity and has a fleet of mobile assets
including portable COLTs (cells on light trucks) and COWs (cells on
wheels/trucks), mobile charging stations, and more to support first
responders and their mission critical needs.
In addition to its wireless and fiber networks, Verizon also
operates a global IP backbone network spanning six continents. It
is built with resiliency in mind; it is one of the most connected
Internet backbones in the world, offers speeds of up to 100 GB, and
deploys mesh technology to enable multiple diverse paths for
network traffic as required. Performance is constantly monitored by
Verizon's five global Network Operations Centers, 24 x 7, 365.
For first responders and
consumers
We offer priority access to our network for first responders and
public safety officials. Our Fios broadband customers always have
unlimited access to home broadband service for their work from home
or remote learning needs. Our wireless business and consumer
customers have access to competitively priced unlimited wireless
plans and can use online tools to make changes to accounts or
device upgrades 24 x 7, which includes access to virtual tech
coaches and assistance.
Being prepared
Verizon is encouraging business and government customers, in
particular, to review their continuity plans. Proper planning can
help mitigate impact and help minimize potential business
disruptions.
Here are five strategies businesses should
consider:
- Prepare your networks for a remote workforce
- Implement technology that enables remote collaboration
- Prioritize and develop a critical infrastructure plan
- Use tools to give customers confidence and access
- Secure both physical and network access points
For more information, see our
FAQs.
Media Contacts:Rich
Young973-943-7209richard.j.young@verizon.com
Howie Waterman917-359-5505howard.waterman@verizon.com
Kim Ancin908-801-0500kimberly.ancin@verizon.com
Karen Schulz864-561-1527karen.schulz@verizonwireless.com
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on
June 30, 2000 and is celebrating its 20th year as one of the
world’s leading providers of technology, communications,
information and entertainment products and services. Headquartered
in New York City and with a presence around the world, Verizon
generated revenues of $131.9 billion in 2019. The company
offers voice, data and video services and solutions on its award
winning networks and platforms, delivering on customers’ demand for
mobility, reliable network connectivity, security and control.
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Forward-looking statementsIn this communication
we have made forward-looking statements. These statements are based
on our estimates and assumptions and are subject to risks and
uncertainties. Forward-looking statements include the information
concerning our possible or assumed future results of operations.
Forward-looking statements also include those preceded or followed
by the words “anticipates,” “believes,” “estimates,” “expects,”
“hopes” or similar expressions. For those statements, we claim the
protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995.
We undertake no obligation to revise or publicly release the
results of any revision to these forward-looking statements, except
as required by law. Given these risks and uncertainties, readers
are cautioned not to place undue reliance on such forward-looking
statements. The following important factors, along with those
discussed in our filings with the Securities and Exchange
Commission (the “SEC”), could affect future results and could cause
those results to differ materially from those expressed in the
forward-looking statements: cyber attacks impacting our networks or
systems and any resulting financial or reputational impact; natural
disasters, terrorist attacks or acts of war or significant
litigation and any resulting financial or reputational impact;
disruption of our key suppliers’ or vendors' provisioning of
products or services; material adverse changes in labor matters and
any resulting financial or operational impact; the effects of
competition in the markets in which we operate; failure to take
advantage of developments in technology and address changes in
consumer demand; performance issues or delays in the deployment of
our 5G network resulting in significant costs or a reduction in the
anticipated benefits of the enhancement to our networks; the
inability to implement our business strategy; adverse conditions in
the U.S. and international economies; changes in the regulatory
environment in which we operate, including any increase in
restrictions on our ability to operate our networks; our high level
of indebtedness; an adverse change in the ratings afforded our debt
securities by nationally accredited ratings organizations or
adverse conditions in the credit markets affecting the cost,
including interest rates, and/or availability of further financing;
significant increases in benefit plan costs or lower investment
returns on plan assets; changes in tax laws or treaties, or in
their interpretation; and changes in accounting assumptions that
regulatory agencies, including the SEC, may require or that result
from changes in the accounting rules or their application, which
could result in an impact on earnings.
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