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Verizon (VZ) Extends Fios Forward to Support Digital Inclusion

·3 min read

Verizon Communications Inc. VZ is offering high-speed Internet to more customers who qualify for the Lifeline government assistance program through its Fios (Fiber Optic Service) Forward.

Lifeline is a government assistance program that offers discounts to qualified low-income customers. Introduced in April 2020, Verizon Fios Forward significantly exceeds the speed and capabilities that are typically available for home Internet assistance programs.

The telecom giant is expanding Fios Forward to support digital inclusion and provide opportunities for underserved households to thrive in the digital world. With no data caps, Fios customers can experience faster upload and download than comparable plans.

Verizon Fios is a bundled Internet access, telephone and television service that operates over a fiber-optic communications network. Fios Forward delivers the speed and capacity to meet the multi-user demands at home. It helps underserved households access the same Verizon Fios service at a discounted price.  

The increased capacity makes a big difference when family members make video calls, stream content for remote learning and upload files for work at the same time. Qualifying customers will be eligible for additional benefits.

Verizon has made reliable Fios Internet even more affordable for qualifying households with Fios Forward. It is offering a full fiber-optic network for less to those who qualify. The company enables individuals and communities to develop the necessary skillset with the help of connectivity.

The latest initiative builds upon Citizen Verizon, which is its business plan for economic, environmental and social advancement. Verizon has also built its 5G Ultra Wideband network to enable innovations that will support the changing behavior of businesses and consumers. Its disciplined network strategy for long-term sustainable growth, along with operational execution, is noteworthy.

The stock has lost 2.4% in the past year compared with 0.7% decline of the industry.

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

Some better-ranked stocks in the broader industry are Corning GLW, ViaviSolutions VIAV and Vocera Communications VCRA, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Corning delivered a trailing four-quarter positive earnings surprise of 40.7%, on average.

Viavi delivered a trailing four-quarter positive earnings surprise of 20.2%, on average.

Vocera delivered a trailing four-quarter positive earnings surprise of 95.1%, on average. The company’s earnings beat the Zacks Consensus Estimate in three of the last four quarters.

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Verizon Communications Inc. (VZ) : Free Stock Analysis Report
Corning Incorporated (GLW) : Free Stock Analysis Report
Vocera Communications, Inc. (VCRA) : Free Stock Analysis Report
Viavi Solutions Inc. (VIAV) : Free Stock Analysis Report
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