Verizon Communications Inc., through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches. It also provides residential fixed connectivity solutions, such as internet, video, and voice services; and sells network access to mobile virtual network operators. As of December 31, 2021, it had approximately 115 million wireless retail connections, 7 million wireline broadband connections, and 4 million Fios video connections. The company's Business segment provides network connectivity products, including private networking, private cloud connectivity, virtual and software defined networking, and internet access services; and internet protocol-based voice and video services, unified communications and collaboration tools, and customer contact center solutions. This segment also offers a suite of management and data security services; domestic and global voice and data solutions, such as voice calling, messaging services, conferencing, contact center solutions, and private line and data access networks; customer premises equipment; installation, maintenance, and site services; and Internet of Things products and services. As of December 31, 2021, it had approximately 27 million wireless retail postpaid connections and 477 thousand wireline broadband connections. The company was formerly known as Bell Atlantic Corporation and changed its name to Verizon Communications Inc. in June 2000. Verizon Communications Inc. was incorporated in 1983 and is headquartered in New York, New York.

Verizon Communications Inc.

Service Revenues and Other

Service Revenues and Other %Chg

Service Revenues and Other Common Size

Wireless Equipment Revenues

Wireless Equipment Revenues %Chg

Wireless Equipment Revenues Common Size

Total Operating Revenues

Total Operating Revenues %Chg

Total Operating Revenues Common Size

Cost of Services

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Cost of Services Common Size

Cost of Wireless Equipment

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Cost of Wireless Equipment Common Size

Selling, General and Administrative Expense

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Selling, General and Administrative Expense Common Size

Depreciation and Amortization Expense

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Depreciation and Amortization Expense Common Size

Verizon Business Group Goodwill Impairment

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Verizon Business Group Goodwill Impairment Common Size

Total Operating Expenses

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Operating Income

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Operating Income Common Size

Equity in Losses of Unconsolidated Businesses

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Equity in Losses of Unconsolidated Businesses Common Size

Other Income, Net

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Other Income, Net Common Size

Interest Expense

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Interest Expense Common Size

Income Before Provision for Income Taxes

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Provision for Income Taxes

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Provision for Income Taxes Common Size

Net Income

Net Income %Chg

Net Income Common Size

Net Income Attributable to Noncontrolling Interests

Net Income Attributable to Noncontrolling Interests %Chg

Net Income Attributable to Noncontrolling Interests Common Size

Net Income Attributable to Verizon

Net Income Attributable to Verizon %Chg

Net Income Attributable to Verizon Common Size

Weighted-Average Shares Outstanding

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Dividends Declared per Common Share

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Total Revenues

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Cost of Sales

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Gross Profit

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Gross Profit Margin

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Selling, General & Administrative Expenses

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Depreciation & Amortization Expenses

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Other Operating Expenses

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Operating Profit

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Interest and Investment Income

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Non-Operating Income

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Total Non-Operating Income

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Consolidated Net Income

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Net Income Attributable to Minority Interests and Other

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Net Income Attributable to Minority Interests and Other Common Size

Net Income Attributable to Common Shareholders

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Revenue

EBIT

EBITDA

CapEx

Net Interest Income

Assets

Adjusted EBITDA

Adjusted Net Income

Net Revenue

Average Assets

Adjusted EBIT

Adjusted Revenue

Adjusted EBT

Adjusted Funds From Operations

Income Statement	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Total Revenues	33,821	34,504	33,485	35,681	33,330	32,796
Total Revenues %Chg	1.5%	5.2%	1.5%	1.6%	-0%	0.6%
Service Revenues and Other
Wireless Equipment Revenues
Cost of Sales	13,346	13,885	13,056	15,514	13,240	12,471
Cost of Services
Cost of Wireless Equipment
Gross Profit	20,475	20,619	20,429	20,167	20,090	20,325
Gross Profit Margin	60.5%	59.8%	61%	56.5%	60.3%	62%
Selling, General & Administrative Expenses	7,752	7,812	7,874	8,240	9,706	8,024
Selling, General and Administrative Expense
Depreciation & Amortization Expenses	4,618	4,635	4,577	4,506	4,458	4,483
Depreciation and Amortization Expense
Other Operating Expenses	—	—	—	—	—	—
Verizon Business Group Goodwill Impairment
Operating Profit	8,105	8,172	7,978	7,421	5,926	7,818
Operating Income
Operating Margin	24%	23.7%	23.8%	20.8%	17.8%	23.8%
Interest and Investment Income	-6	-3	6	-6	-24	-14
Equity in Losses of Unconsolidated Businesses
Interest Expense	-1,664	-1,639	-1,632	-1,644	-1,672	-1,698
Interest Expense
Non-Operating Income	92	79	121	797	72	-72
Other Income, Net
Total Non-Operating Income	-1,578	-1,563	-1,505	-853	-1,624	-1,784
Income Before Provision for Income Taxes	6,527	6,609	6,473	6,568	4,302	6,034
Income Before Provision for Income Taxes
Provision for Income Taxes	1,471	1,488	1,490	1,454	891	1,332
Provision for Income Taxes
Consolidated Net Income	5,056	5,121	4,983	5,114	3,411	4,702
Net Income
Net Income Attributable to Minority Interests and Other	106	118	104	109	105	109
Net Income Attributable to Noncontrolling Interests
Net Income Attributable to Common Shareholders	4,950	5,003	4,879	5,005	3,306	4,593
Net Income Attributable to Verizon
Basic EPS	1.2	1.2	1.2	1.2	0.8	1.1
Diluted EPS	1.2	1.2	1.2	1.2	0.8	1.1
Basic Weighted Average Shares Outstanding	4,228	4,224	4,222	4,222	4,220	4,215
Total Shares Outstanding	4,216.4	4,216.3	4,216.3	4,209.7	4,209.6	4,209.5
Diluted Weighted Average Shares Outstanding	4,233	4,228	4,226	4,227	4,225	4,221
EBITDA	12,723	12,807	12,555	11,927	10,384	12,301
Effective Tax Rate	22.5%	22.5%	23%	22.1%	20.7%	22.1%