After a blockbuster second-quarter earnings report that raised investor optimism surrounding the stock, Verizon Communications (VZ) has given investors another reason to hold on to it. The company signed a $1 billion agreement with Alphabet (GOOG) (GOOGL) under which Verizon’s dark fiber network will be used to connect Google’s data centers.
This could prove a crucial step in Verizon’s path toward building and popularizing a standalone connectivity business that supports MNCs. The company also believes more deals are to come this year, which would mean significant revenue generation over the years.
