Verizon releases recast segment results in alignment with its new operating model
Verizon Communications Inc. (VZ)
Last verizon communications inc. earnings: 4/24 07:30 am
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Source: GlobeNewswire
NEW YORK, June 18, 2019 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (NYSE, Nasdaq: VZ) today released recast historical financial and operational results in connection with its new operating model, Verizon 2.0, which was announced in November 2018 and implemented beginning in April 2019. As previously disclosed, the new structure aligns the company around two customer-facing reportable segments: Consumer and Business. This reflects Verizon’s customer-centric approach to address evolving customer needs, deliver best-in-class customer experiences and drive continued leadership in 5G. Results for Verizon Media, the company’s third operating group, were not impacted by the new operating model. “Verizon 2.0 is a transformation of our business that creates the right platform to better serve our customers and capture long-term growth opportunities,” said Chairman and CEO Hans Vestberg. “As we evolve our networks and organization, we are positioning Verizon to win in the 5G era.”
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