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Verizon Communications

Verizon
Company nameVerizon Communications Inc.
Company typePublic
IndustryTelecommunications
FoundedOctober 7, 1983
HeadquartersVerizon Building
New York City, New York, United States
Key peopleIvan Seidenberg
(Chairman)
Lowell McAdam
(President and CEO)
ServicesFixed-line and mobile telephony, broadband and fixed-line internet services, digital television and network services
Revenue(-) US$ 106.565 billion (2010) 
Operating income(-) US$ 14.645 billion (2010)
Net income(-) US$ 10.217 billion (2010)
Total assets(-) US$ 220.005 billion (2010)
Total equity(+) US$ 86.912 billion (2010)
Employees194,400 (2010)

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Verizon Communications Inc. (Nyse - VZ, NASDAQ - VZ) is a global broadband and telecommunications company and a component of the Dow Jones Industrial Average. It started in 1983 as Bell Atlantic (based in Philadelphia) with a footprint covering New Jersey to Virginia and emerged as part of the 1984 AT&T breakup into seven "Baby Bells." In 1997, Bell Atlantic merged with another Regional Bell Operating Company, NYNEX, based in New York City with a footprint spanning from New York to Maine. The combined company kept the Bell Atlantic name. In 2000, Bell Atlantic acquired former independent phone company GTE, and adopted the name "Verizon", a portmanteau of veritas and horizon, which rhymes with horizon. The company's headquarters are located in the Verizon Building at 140 West Street in Lower Manhattan, New York City.


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