About Company

An American company Verizon Communications is a descendant of the Bell's telephone company that stood at the origins of the American and global communications market as early as in the 19th century. The corporation's own history began in 2000, after the merge with the country's largest telecom operator. Nowadays, Verizon specializes in wireless communication that generates ¾ of its profit; the rest is received from traditional wired communication. An accompanying business is a trade in telephone directories and equipment for telephone communication. Regarding market capitalization, Verizon is the world's second largest telecommunications company. Over the past 2 years, attempts have been made to expand the business scope. In 2017, Verizon Communications began acquiring the loss-making company Yahoo!, the owner of the world's second largest search engine after Google. The market demonstrated a positive reaction to this step; all the past year's reports indicate a steady growth. The annual turnover amounted to $126 billion, net profit was $30 billion. The management of the company is performed by two people – the longstanding president Lowel McAdam and the newly appointed CEO Hans Vestberg, who used to supervise the optical fiber network department and for some time headed the Swedish Olympic Committee. Analysts give a positive assessment to the appointment of the McAdam's young colleague to the leadership position and call Verizon's stocks one of the most reliable long-term investments.