Verizon secures $1B+ dark fiber deal with Google

Verizon Communications (NYSE: VZ) has secured a deal with Alphabet's Google (NASDAQ: GOOGL), valued at more than $1 billion, to provide dark fiber connectivity for Google's data centers, according to a statement from Verizon CEO Dan Schulman.

Schulman made the announcement during Verizon's post-earnings call, adding that additional deals are expected to be announced by year end. "We have other deals that we expect to announce by year end that taken together are expected to be worth multiple billions of dollars in revenue over the next several years," Schulman said.

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