Verizon Communications Inc

verizon.com

Verizon Communications Inc (NYSE: VZ) is a telecommunications company that provides wireless and wireline communications services to consumer and business customers across the United States. It makes money primarily through recurring subscription fees for postpaid and prepaid wireless plans, fixed wireless access (FWA) broadband, Fios internet and video services, and business networking and managed services contracts. The Consumer segment generated $106.8 billion in revenue in FY2025, approximately 77% of consolidated revenues, while the Business segment contributed $29.1 billion, approximately 21% of consolidated revenues. As of December 31, 2025, Verizon held approximately 116 million wireless retail connections in Consumer (83% postpaid), 11 million total broadband connections, and 2 million Fios video connections. The Business segment served approximately 31 million wireless retail postpaid connections and approximately 3 million total broadband connections as of the same date. The business is capital-intensive, structured around nationwide network infrastructure, with high customer switching costs embedded in multi-year device financing and service contracts.