Verizon Communications Inc. (NYSE:VZ) traded at $56.15 when it released news about achieving the growth and profitability this year. It now trades at $56.72 with little change. The company has a market cap of $234.32 billion. The institutional ownership in the company is 68.5%. Its revenues in 2018 are $130.9 billion.
Verizon banks on the leadership in 5G for its planned growth and profitability in 2019. Hans Vestberg, Chief Executive Officer of Verizon, said the company would deliver a world-class experience to the clients and enhance value for the shareholders by adopting best growth strategies.
Discussions at an investor conference
While outlining the vision to achieve and sustained growth of revenues and profitability at an investor conference held in New York, Verizon would roll out 5G Ultra Wideband Network in over 30 cities in the US this year. The company will unveil 5G Mobility in H1, 2019, and expands the coverage of 5G Home to more cities in H2, 2019. It expects considerable growth in revenues from 5G connectivity (5G Home and 5G Mobility) in 2021.
Mobile Edge Computing in Q4, 2019
Verizon plans to introduce Mobile Edge Computing in Q4, 2019 to facilitate real-time enterprise applications. Its pioneering 4G LTE network that serves as the base for 5G has coverage of 2.6 sq. Miles for faster data speeds at peak and higher capacity. The company meets the needs of its customers through intelligent edge network.
Verizon would complete the rollout of one fiber program in over 60 cities in the US by the end of this year and provides coverage to over 25,000 miles. While offering cost efficiencies, One Fiber would generate considerable revenues for the company. It is progressing to deliver promised cumulative cash savings of $10 billion in 2021.
Benefits of 5G
The customers can enjoy a smooth viewing experience with no jitter or lag. It is faster and reduces latency. Vice President (Network Engineering) at Verizon, Brian Mecum said it is offering a sneak peek of 5G and how it will transform the experience of live events for the spectators. 5G along with mobile edge computing provides a level playing field.
The stadiums enabled with 5G connectivity, sensors, cameras, and small cells allow capturing data in real time, process faster and broadcast faster. It offers a remarkable viewing experience for the fans.