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Verizon Offers Free Premium Services Amid Coronavirus Crisis

Zacks Equity Research

With a promise of keeping customers entertained with seamless connectivity, Verizon Communications Inc. VZ recently announced that it will provide its customers with a bouquet of free learning tools and additional premium TV benefits at no additional costs as part of “More at Home...on Us” program. With millions of people staying indoors, the latest move underscores the tech giant’s commitment to address the upsurge in data demand, especially at a time when majority of the population is forced to work from the safety of their homes to avert exposure from the coronavirus pandemic.

Markedly, the latest offering will be available to both wireless and Fios customers. Fios is a next-gen fiber-optic network that enables the subscribers to stream virtually with a no-buffering experience, provides high-quality bandwidth and best-in-class calling services with faster and reliable Internet connections. With these benefits, the New York-based telecommunications company will offer a 2-month free access of innovative learning tools from various e-learning platforms like Chegg, Bookful and Quizlet. These services have been specifically designed to develop the mental well-being of various students amid this hour of crisis.

In addition, Verizon will provide access to exclusive content from a myriad of informative channels like — BBC America, Fox News and CNN — to its Fios customers at no extra costs. Apart from introducing an affordable and a hassle-free Fios Home Internet connection for low-income households, the wireless service provider will offer a 30-day free access of premium entertainment options ranging from Epix to SHOWTIME with no additional contract sign-ups, starting from Apr 1.

Impressively, the list of benefits provided by the leading communications services company does not end here. Few days ago, Verizon announced an offer to provide 15GB of high-speed data to small businesses and wireless customers in response to the coronavirus pandemic. With an aim to reinforce the pledge to ‘Keep Americans Connected’, the company is taking necessary steps to waive overage and late fees for those affected by the virus and provide free international calling services for its customers to CDC level 3 countries. The pledge asks U.S. service providers to provide connectivity services for low-income residential and business customers and provide more access to public WiFi hotspots with no data caps on long-distance calls.

Apart from benefiting customers with its high-speed broadband Internet plans, Verizon is also giving the first responders and federal agencies a priority access to their streamlined networking facilities so that they can communicate effectively not only within their departments but also with other hospitals, health care and public sector agencies, who are battling this crisis on the front line. With an impressive track record of helping the American communities with dedicated emergency services, Verizon is coordinating with various law enforcement agencies to deploy portable cell sites across multiple quarantine areas, Emergency Operation Centers and mobile testing sites nationwide. It is focused on leveraging these platforms to boost network performance and reinforce unprecedented voice responsive services to help customers and first responders manage incoming calls amid this pandemic. 

With one of the most efficient wireless networks in the United States, Verizon deploys state-of-the-art technologies to solve complex business challenges and deliver increased capacity, lower latency and faster speeds, backed by customer-focused planning, disciplined engineering and strategic investments. Seeking competitive edge in a saturated and price-sensitive market, which includes the presence of major players like AT&T Inc. T and T-Mobile US, Inc. TMUS, the company aims to retain its lead in promulgating next-gen 5G mobile networks nationwide by using virtualized machines and advanced levels of operational automation, which are likely to reinforce its market position while stoking growth.

Verizon has long-term earnings growth expectation of 3.4%. The stock has lost 18% compared with the industry’s decline of 10.7% in the past year.



Verizon currently carries a Zacks Rank #3 (Hold).

A better-ranked stock in the industry is Telenav, Inc. TNAV, sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Telenav surpassed estimates twice in the trailing four quarters, the positive earnings surprise being 77.1%, on average.

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