VZC Verizon Comms

 
TIDMVZC 
 
Verizon outlines vision of future growth based on network leadership 
 
NEW YORK, Sept. 17, 2015  -- Verizon Communications Inc. (NYSE, Nasdaq: VZ) 
sees significant opportunity for future growth in video and the Internet of 
Things, enabled by the company's consistent investment and demonstrated 
leadership in wireless and broadband networks. 
 
Speaking at an investor conference here today, Chairman and CEO Lowell McAdam 
outlined the broader vision of the company following recent announcements about 
its commitment to 5G wireless deployment, the simplification of wireless 
customer pricing, and new wireless video and telematics products. 
 
Although consumer demand is disrupting Verizon's traditional business models, 
McAdam said the company is transforming around the capabilities of its 
high-performing networks. He said the goal is future growth based on delivering 
what customers want and need in the new digital world. 
 
While well-positioned for the future, Verizon's full-year 2016 earnings may 
plateau at 2015 levels as the company manages near-term impacts. These impacts 
include the commercial model change in wireless, year-over-year wireline 
financial comparisons following the expected first-half 2016 sale of operations 
to Frontier Communications Corp., and the ramp up of new business models for 
wireless video and IoT. 
 
With expectations of continued strong cash flow, Verizon reiterates its capital 
allocation priorities of network investment, returning value to shareholders, 
maintaining a strong balance sheet, and returning to the company's 
pre-Vodafone-transaction credit rating profile in the 2018-2019 timeframe. 
 
A transcript of McAdam's full remarks will be made available later today at 
http://www.verizon.com/about/investors/. The company will issue detailed 
third-quarter and year-to-date results on October 20. 
 
Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, 
employs a diverse workforce of 178,500 and generated more than $127 billion in 
2014 revenues. Verizon Wireless operates America's most reliable wireless 
network, with 109.5 million retail connections nationwide. Verizon also 
provides converged communications, information and entertainment services over 
America's most advanced fiber-optic network, and delivers integrated business 
solutions to customers worldwide. For more information, visit www.verizon.com/ 
news/. 
 
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and 
biographies, media contacts and other information are available at Verizon's 
online News Center at www.verizon.com/news/. The news releases are available 
through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/. 
 
Forward-Looking Statements 
In this communication we have made forward-looking statements. These statements 
are based on our estimates and assumptions and are subject to risks and 
uncertainties. Forward-looking statements include the information concerning 
our possible or assumed future results of operations. Forward-looking 
statements also include those preceded or followed by the words "anticipates," 
"believes," "estimates," "hopes" or similar expressions. For those statements, 
we claim the protection of the safe harbor for forward-looking statements 
contained in the Private Securities Litigation Reform Act of 1995. The 
following important factors, along with those discussed in our filings with the 
Securities and Exchange Commission (the "SEC"), could affect future results and 
could cause those results to differ materially from those expressed in the 
forward-looking statements: adverse conditions in the U.S. and international 
economies; the effects of competition in the markets in which we operate; 
material changes in technology or technology substitution; disruption of our 
key suppliers' provisioning of products or services; changes in the regulatory 
environment in which we operate, including any increase in restrictions on our 
ability to operate our networks; breaches of network or information technology 
security, natural disasters, terrorist attacks or acts of war or significant 
litigation and any resulting financial impact not covered by insurance; our 
high level of indebtedness; an adverse change in the ratings afforded our debt 
securities by nationally accredited ratings organizations or adverse conditions 
in the credit markets affecting the cost, including interest rates, and/or 
availability of further financing; material adverse changes in labor matters, 
including labor negotiations, and any resulting financial and/or operational 
impact; significant increases in benefit plan costs or lower investment returns 
on plan assets; changes in tax laws or treaties, or in their interpretation; 
changes in accounting assumptions that regulatory agencies, including the SEC, 
may require or that result from changes in the accounting rules or their 
application, which could result in an impact on earnings; and the inability to 
implement our business strategies. 
 
 
SOURCE  Verizon Communications Inc. 
 
CONTACT: Bob Varettoni, 908.559.6388, robert.a.varettoni@verizon.com 
 
 
 
 
 
 
END 
 

(END) Dow Jones Newswires

September 17, 2015 08:50 ET (12:50 GMT)

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