Categories Technology

Verizon plans to revamp its units: Oath becomes separate segment

Carrier giant Verizon Communications Inc (VZ) announced plans to reorganize its business segments to just three — Consumer, Business and Verizon Media Group/Oath — to focus better on its customers.

This is the first bold move by under Chief Executive Officer Hans Vestberg, who was named to the post on Aug. 1, who is strafing away from the rigid difference between wireless and wireline offerings, and adding Fios internet and video products.

Verizon third quarter 2018 Earnings Infographic

Verizon Media Group/Oath segment includes media, advertising and technology, and be led by Oath CEO Guru Gowrappan, which brings Yahoo and AOL under him.

Verizon Consumer Group includes the consumer segment of wireless and wireline businesses, and will be led by Verizon Wireless president Ronan Dunne.

Verizon Business Group includes products and services sold to businesses/government, and will be headed by Tami Erwin — the current executive VP of wireless operations.

The new units will come to effect on the 1st of January, 2019, Verizon said it plans to report its results under the new structure from the second quarter of 2019.



Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips.

Most Popular

Infographic: How UnitedHealth Group (UNH) performed in Q2 2024

UnitedHealth Group (NYSE: UNH) reported second quarter 2024 earnings results today. Revenues increased to $98.9 billion from $92.9 billion a year ago. Net earnings attributable to UnitedHealth Group common shareholders

SCHW Earnings: Highlights of Charles Schwab Corporation’s Q2 2024 results

Financial services company The Charles Schwab Corporation (NYSE: SCHW) on Tuesday reported a decrease in adjusted earnings and a modest increase in revenues for the second quarter of 2024. Total

BAC Earnings: Key quarterly highlights from Bank of America’s Q2 2024 financial results

Bank of America (NYSE: BAC) reported its second quarter 2024 earnings results today. Revenue, net of interest expense, of $25.4 billion increased 1% from the prior-year period, reflecting higher asset

Add Comment
Viewing Highlight