Latest news with #SowmyanarayanSampath
Yahoo
27-05-2025
- Business
- Yahoo
Verizon to speak at Bernstein conference May 29
NEW YORK, May 27, 2025 (GLOBE NEWSWIRE) -- Sowmyanarayan Sampath, executive vice president for Verizon (NYSE, Nasdaq: VZ), and CEO for Verizon Consumer, is scheduled to speak at the Bernstein Strategic Decisions Conference on Thursday, May 29, at 8:00 a.m. ET. His remarks will be webcast, with access instructions available on Verizon's Investor Relations website, For details on Verizon's most recent financial results, view the company's 1Q25 earnings results here. Verizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its millions of customers live, work and play, delivering on their demand for mobility, reliable network connectivity and security. Headquartered in New York City, serving countries worldwide and nearly all of the Fortune 500, Verizon generated revenues of $134.8 billion in 2024. Verizon's world-class team never stops innovating to meet customers where they are today and equip them for the needs of tomorrow. For more, visit or find a retail location at VERIZON'S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at News releases are also available through an RSS feed. To subscribe, visit Media contacts: Adi in to access your portfolio
The Verge
16-05-2025
- Business
- The Verge
FCC approves Verizon's $20 billion merger after it commits to ‘ending' DEI
Verizon's $ 20 billion deal to acquire the fiber internet provider Frontier is officially happening. On Friday, the Federal Communications Commission signed off on the merger, which will allow Verizon to 'upgrade and expand' Frontier's existing fiber networks. Verizon expects to bring fiber to 1 million homes each year following the acquisition. The deal went through after Verizon 'committed to ending DEI-related practices,' according to a statement by FCC Chair Brendan Carr. The Intercept reports that in a May 15th letter to Carr, Verizon's chief legal officer, Vandana Venkatesh, outlined what it's walking away from. Because 'Verizon recognizes that some DEI policies and practices could be associated with discrimination,' it will no longer have any HR roles or teams focused on DEI, remove references to the term from employee training materials, as well as goals for diversity in its supplies, representation of women and minorities in its workforce. In the letter, Venkatesh says that now Verizon's public messaging is going to 'remove references to 'DEI' or 'diversity, equity and inclusion.'' When Verizon's consumer chief, Sowmyanarayan Sampath, appeared on Decoder last month, we asked him about whether it would fight the FCC imposing regulatory requirements against its diversity initiatives with a decade's worth of lawsuits, the same way it fought net neutrality. It didn't. Earlier this year, Carr criticized Verizon's 'lack of progress' on getting rid of policies related to DEI — or Diversity, Equity, and Inclusion — and suggested that the agency won't approve deals if companies keep these policies in place. T-Mobile similarly closed its acquisition of the fiber provider Lumos after tweaking mentions of DEI on its website. Through the merger, Verizon will also be able to claw back some of its fiber business after it sold parts of its wireline operations, including Fios fiber internet connections, to Frontier in 2015. Carr said the merger will allow fiber to come to more communities, including rural ones. BEAD, a Biden-era initiative, was supposed to pay fiber providers to bring high-speed internet to rural areas, but a report from The Washington Post suggests that the 'money isn't flowing.'
Yahoo
13-05-2025
- Business
- Yahoo
Verizon to speak at MoffettNathanson conference May 15
NEW YORK, May 13, 2025 (GLOBE NEWSWIRE) -- Sowmyanarayan Sampath, executive vice president for Verizon (NYSE, Nasdaq: VZ), and CEO for Verizon Consumer, is scheduled to speak at the MoffettNathanson Media, Internet & Communications Conference on Thursday, May 15, at 8:00 a.m. ET. His remarks will be webcast, with access instructions available on Verizon's Investor Relations website, For details on Verizon's most recent financial results, view the company's 1Q25 earnings results here. Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed in 2000 and is one of the world's leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $134.0 billion in 2023. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers' demand for mobility, reliable network connectivity, and security. VERIZON'S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at News releases are also available through an RSS feed. To subscribe, visit Media contacts:Adi
Business Mayor
24-04-2025
- Business
- Business Mayor
Verizon Has No Plans to Trim Its $12B ‘Customer Investment' Budget During Economic Uncertainty
While other brands might be eyeing their marketing budgets nervously amid the current market instability, Verizon is holding steady. The telecommunications giant, which is one of the world's largest advertisers, has no plans to cut or pause its ad spend, according to Verizon Consumer chief executive Sowmyanarayan Sampath. Last year, it allocated nearly $12 billion for 'customer investment,' which includes marketing, as well as promotions, trade advertisements, and sponsorship events. Speaking on the first day of Semafor's third-annual World Economy Summit in Washington D.C., Sampath told Semafor cofounder and CEO Justin Smith that Verizon is focused on long-term growth, not short-term volatility. 'Our business is built for uncertain times,' Sampath said. 'We're not slowing down.' In his role, Sampath runs Verizon's consumer business, where he oversees marketing, sales, strategy, and product. The company has around 110 million customers, making it one of the largest consumer businesses in the world. It also has several structural advantages that help insulate it from the economic concerns rattling others. For instance, the essential nature of phone service makes the company's revenue base more resilient than others. 'Imagine your day without your phone,' Sampath said. 'Good times, bad times, people still pay their phone bill.' The company's business is also largely domestic and not as reliant on global supply chains, providing it a degree of insulation from the direct impacts of tariffs. Still, tariffs can influence consumer behavior indirectly, as price increases in other sectors drive more value-conscious spending. And Verizon has seen that sentiment bubbling up in its customer base. 'We're seeing that shift,' Sampath said. 'Consumers aren't just looking for the cheapest option—they want value for money.' The company gleaned that insight from one of its newer applications of artificial intelligence. Verizon fields nearly 1 million customer service calls every day, which it now runs through AI-powered models that analyze sentiment and surface trends. For the last three consecutive quarters, one theme has risen to the top: value. Specifically, the company refers to the sentiment as 'value for money.'
Yahoo
23-04-2025
- Business
- Yahoo
Verizon plans AI-driven experiences as it fights customer churn
This story was originally published on CX Dive. To receive daily news and insights, subscribe to our free daily CX Dive newsletter. Verizon will continue leaning into customer experience as one of its major differentiators as it looks to improve customer retention, which fell in first quarter 2025 after it increased prices earlier this year, according to executives on a Q1 2025 earnings call Tuesday. Verizon Consumer reported 356,000 wireless retail postpaid phone net losses in first quarter 2025, compared to 194,000 postpaid phone net losses in first quarter 2024. The company plans to fight churn in part through the launch of AI-driven customer experiences in the second half of the year, according to Sowmyanarayan Sampath, EVP and CEO of Verizon Consumer Group. The company is already deploying AI in its mobile assistants for store associates and call routing tools in call centers. Verizon's recent customer experience investments, including MyPlan personalization and the Verizon Access loyalty program, are helping it fuel growth. The company plans to further develop its offerings in an effort to build loyalty. 'Over the past few years, we have dedicated substantial resources to capital to enhance our customer experience through various initiatives, including AI for customer care and personalization,' Hans Vestberg, CEO of Verizon Wireless, said during the call. 'Although the industry, including Verizon, still has room to improve, we have made great progress towards our goal of seamless customer interactions.' Verizon is on a growth trajectory despite the increased customer churn. Total wireless service revenue was up 2.7% year over year to $20.8 billion in first quarter 2025, according to a Verizon earnings report. Sampath called the customer churn 'transitory' and predicted that it would abate by the second half of 2025. 'We want to be people's first choice, providing products, services and experiences they can't get elsewhere,' he said. Executives attributed Verizon's recent success to its MyPlan service, which suggests personalized offers and products for each customer and lets them customize their subscription. The company expanded the concept to businesses earlier this month with My Biz Plan. 'Our comprehensive portfolio of offerings and strategic moves we've made over the last year position us well for sustainable financial and subscriber growth while also improving the customer experience,' Vestberg said. Sign in to access your portfolio
