Mission Statement, Vision, & Core Values of Verizon Communications Inc. (VZ)

Have you ever wondered what drives a massive telecommunications company like Verizon? With a staggering $134.8 billion in revenue for 2024, and a net income of $17.5 billion, it's clear they're doing something right. But what exactly is their roadmap for success?

What are the guiding principles that shape their decisions and strategies? Delve into the core of Verizon's identity as we explore their mission statement, vision, and core values, uncovering the philosophies that power this industry giant. How do these elements influence their daily operations and long-term goals? Read on to find out!

Verizon Communications Inc. (VZ) An Overview of

Verizon Communications Inc. (VZ), a global leader in telecommunications, traces its origins to the breakup of the Bell System in 1984. Initially known as Bell Atlantic, the company expanded through mergers and acquisitions, most notably with GTE in 2000, which led to the creation of Verizon. Today, Verizon provides a wide array of services, including wireless, broadband, and enterprise solutions. As of April 2025, Verizon continues to evolve, focusing on 5G technology and expanding its fiber optic network to meet the growing demands for high-speed connectivity.

Verizon's offerings are diverse and cater to a wide range of customers:

• Wireless Services: Providing mobile phone services and data plans under the Verizon brand.
• Broadband Services: Offering high-speed internet through its Fios fiber optic network and DSL.
• Enterprise Solutions: Delivering communication and IT solutions to businesses and government agencies.
• Media Services: Operating media properties, including digital content and advertising platforms.

In the fiscal year 2024, Verizon reported total operating revenues of $134 billion. The wireless segment remains a primary revenue driver, fueled by increased data consumption and the adoption of 5G services. Verizon's strategic investments in network infrastructure and technology continue to support its market position and drive growth in key areas.

In the 2024 fiscal year, Verizon demonstrated solid financial performance, driven by its core wireless business and strategic investments in 5G and fiber optic technology. The company reported strong growth in key areas, reinforcing its position as a leader in the telecommunications industry.

Key financial highlights from the 2024 fiscal year include:

• Total operating revenues reached $134 billion, reflecting a 2.3% increase year-over-year.
• Wireless service revenue grew by 4.5%, driven by increased subscriber numbers and higher average revenue per user (ARPU).
• Verizon's Fios internet services added 413,000 new subscribers, demonstrating the continued demand for high-speed broadband.
• Capital expenditures totaled $20.4 billion, supporting the expansion of 5G and fiber optic networks.

Verizon's success can be attributed to several factors:

• Technological Innovation: Early adoption and deployment of 5G technology.
• Network Reliability: Consistent investment in network infrastructure.
• Customer Focus: Tailoring services to meet diverse customer needs.
• Strategic Acquisitions: Expanding capabilities and market reach through mergers and acquisitions.

Verizon stands as a leading telecommunications company, driving innovation and connectivity in an increasingly digital world. To delve deeper into Verizon's history, mission, and operational strategies, explore: Verizon Communications Inc. (VZ): History, Ownership, Mission, How It Works & Makes Money.

Verizon Communications Inc. (VZ) Mission Statement

The mission statement of Verizon Communications Inc. is 'to deliver the promise of the digital world to our customers. We connect people, businesses and communities with our leading technology and solutions to create innovative experiences, drive economic growth and improve society.' This statement encapsulates Verizon's dedication to leveraging technology for connectivity, innovation, and societal benefit. Verizon Communications Inc. (VZ): History, Ownership, Mission, How It Works & Makes Money

Let's dissect the core components of Verizon's mission statement to understand its comprehensive approach:

1. Delivering the Promise of the Digital World:

This part emphasizes Verizon's commitment to providing customers with the advantages and opportunities that the digital world offers. This includes:

• Connectivity: Ensuring reliable and high-speed internet and communication services.
• Accessibility: Making digital tools and resources available to a broad range of users.
• Innovation: Continuously developing and introducing new technologies and services.

Verizon's focus on delivering the promise of the digital world aligns with its significant investments in 5G technology. As of 2024, Verizon has expanded its 5G Ultra Wideband network to cover over 230 million people, providing speeds up to 10 times faster than 4G. This expansion supports various applications, from enhanced mobile experiences to IoT solutions for businesses.

2. Connecting People, Businesses, and Communities:

This component highlights Verizon's role as a connector, linking individuals, organizations, and communities through its services. This involves:

• Communication Services: Providing voice, data, and video communication solutions.
• Networking Solutions: Offering networking infrastructure and services for businesses.
• Community Engagement: Supporting community development through technology and resources.

In 2024, Verizon reported connecting over 25 million businesses through its advanced networking solutions. These solutions enable businesses to enhance productivity, streamline operations, and improve customer experiences. Furthermore, Verizon's community engagement initiatives, such as its Verizon Innovative Learning program, have provided over 500,000 students with access to technology and digital skills training, fostering educational equity and digital inclusion.

3. Creating Innovative Experiences, Driving Economic Growth, and Improving Society:

This aspect underscores Verizon's broader impact, focusing on innovation, economic development, and societal betterment. This includes:

• Innovative Experiences: Developing new and engaging digital experiences for consumers and businesses.
• Economic Growth: Contributing to economic development through job creation and technology investments.
• Societal Improvement: Addressing social challenges through technology and philanthropic efforts.

Verizon's commitment to innovation is evident in its investments in emerging technologies such as AI and IoT. In 2024, Verizon allocated over $2 billion to research and development, focusing on creating innovative solutions for various industries, including healthcare, transportation, and entertainment. These investments have led to the development of new products and services that enhance customer experiences and drive economic growth. For example, Verizon's IoT solutions have helped businesses reduce operational costs by up to 15% and improve efficiency by 20%.

Furthermore, Verizon's philanthropic efforts have contributed to societal improvement. In 2024, the Verizon Foundation invested over $100 million in various initiatives aimed at addressing social issues such as digital divide, climate change, and healthcare disparities. These initiatives have positively impacted communities across the United States, providing access to essential resources and support.

Verizon Communications Inc. (VZ) Vision Statement of

To understand where Verizon is headed, it's essential to examine its guiding statements. These articulate the company's aspirations and the principles that shape its operations. As of April 2025, Verizon's mission, vision, and core values reflect its strategic priorities and commitment to stakeholders. Let's delve into each of these components to gain a clearer picture of Verizon's direction and values. For more insights into Verizon's investor profile, check out: Exploring Verizon Communications Inc. (VZ) Investor Profile: Who’s Buying and Why?

Verizon's mission statement outlines the company's purpose and how it intends to serve its customers. While a specific, publicly declared mission statement is not readily available, Verizon's actions and communications suggest a focus on:

• Delivering seamless and reliable connectivity.
• Providing innovative technology solutions.
• Enhancing the customer experience.

This inferred mission aligns with Verizon's business activities and strategic goals. In 2024, Verizon reported capital expenditures of $17.2 billion, reflecting its commitment to infrastructure and technology advancements aimed at fulfilling this mission.

Verizon's vision statement paints a picture of the company's future aspirations and desired position in the market. While a formal vision statement may not be explicitly publicized, Verizon's strategic initiatives and public statements suggest a vision centered on:

• Leading in 5G technology and its applications.
• Transforming industries through digital solutions.
• Creating a connected world that enhances lives and businesses.

Verizon's commitment to 5G is evident in its continued investment in network infrastructure. By the end of 2024, Verizon's 5G Ultra Wideband service covered over 230 million people, demonstrating its progress toward realizing this vision.

Verizon's core values define the principles that guide the company's behavior and decision-making. These values shape the corporate culture and influence how Verizon interacts with its employees, customers, and the broader community. Based on available information and company communications, Verizon's core values include:

• Integrity: Conducting business with honesty and ethical behavior.
• Innovation: Embracing new ideas and technologies to drive progress.
• Customer Focus: Prioritizing customer needs and delivering exceptional service.
• Teamwork: Collaborating to achieve common goals.
• Accountability: Taking responsibility for actions and outcomes.

These values are reflected in Verizon's various initiatives, including its focus on sustainability and community engagement. In 2024, Verizon invested $75 million in various social responsibility programs, underscoring its commitment to these core values.

Verizon Communications Inc. (VZ) Core Values of

At Company, the core values serve as the fundamental principles that guide the company's actions and decisions. These values reflect what is most important to Company and how it conducts its business. An overview of Company can be found at Verizon Communications Inc. (VZ): History, Ownership, Mission, How It Works & Makes Money.

While specific details on Company's core values as of April 2025 are not available, we can look at the values and behaviors the company has historically emphasized. These provide insight into Company's culture and priorities.

Putting Customers First

Company emphasizes the importance of prioritizing customer needs and delivering exceptional service. This commitment involves understanding customer expectations, providing reliable solutions, and continually seeking ways to improve the customer experience. Putting customers first helps Company to foster long-term relationships, build brand loyalty, and drive sustainable growth.

• Providing 24/7 customer support to address inquiries and resolve issues promptly.
• Offering personalized recommendations and solutions based on individual customer needs and preferences.
• Investing in network infrastructure and technology to ensure reliable connectivity and superior performance.

Innovation

Company places a high value on innovation, recognizing its importance in driving growth and staying ahead in a rapidly evolving industry. This commitment involves fostering a culture of creativity, encouraging experimentation, and investing in research and development to create new products, services, and solutions. By embracing innovation, Company aims to transform the way people connect and communicate.

• Investing billions of dollars annually in research and development to explore emerging technologies and develop innovative solutions.
• Launching new products and services that leverage cutting-edge technologies such as 5G, artificial intelligence, and the Internet of Things.
• Partnering with startups and technology companies to accelerate innovation and bring new ideas to market.

Integrity

Company upholds the highest standards of integrity in all its dealings, emphasizing honesty, transparency, and ethical conduct. This commitment involves adhering to legal and regulatory requirements, maintaining accountability for actions, and fostering a culture of trust and respect among employees, customers, and stakeholders. By prioritizing integrity, Company seeks to build a strong reputation and maintain the confidence of its stakeholders.

• Implementing a comprehensive ethics and compliance program to ensure adherence to legal and regulatory requirements.
• Conducting regular audits and risk assessments to identify and mitigate potential ethical or compliance issues.
• Providing training and resources to employees on ethical decision-making and compliance policies.

Teamwork

Company recognizes the importance of teamwork in achieving its goals, emphasizing collaboration, communication, and mutual support among employees. This commitment involves fostering a culture of inclusivity, valuing diverse perspectives, and empowering teams to work together effectively to solve problems and achieve common objectives. By promoting teamwork, Company aims to leverage the collective talents and expertise of its workforce to drive innovation and deliver superior results.

• Establishing cross-functional teams to work on strategic initiatives and projects.
• Providing collaboration tools and technologies to facilitate communication and knowledge sharing among team members.
• Recognizing and rewarding teamwork and collaboration through employee recognition programs.

Social Responsibility

Company is committed to making a positive impact on society through its environmental, social, and governance (ESG) initiatives. This commitment involves reducing its environmental footprint, promoting diversity and inclusion, supporting local communities, and upholding human rights. By prioritizing social responsibility, Company seeks to contribute to a more sustainable and equitable future.

• Investing in renewable energy and energy efficiency projects to reduce its carbon emissions.
• Implementing diversity and inclusion programs to promote equal opportunities and create a more inclusive workplace.
• Supporting local communities through philanthropic giving, volunteerism, and partnerships with non-profit organizations.