Verizon Communications Inc

verizon.com

What Do They Do?

Provides wireless and wireline communications, broadband connectivity, and connected devices to consumers, businesses and public-sector customers.

How Do They Make Money?

Customers pay monthly access charges for wireless and wireline network services, generally billed in advance; usage-based services are billed as used. Wireless equipment is paid for when delivered, or through installments over time.

revenue

Segment	Share	Revenue	How money arrives
Service revenues and other Recurring	82% FY2022: 80%		Recurring
Wireless equipment Sold outright	18% FY2022: 20%		Sold outright

Who Are Their Customers?

Consumers buy through Verizon's stores, sales teams and website, as well as agents and national retailers. Businesses and public sector customers buy through direct sales teams and through resellers, distributors and system integrators; carriers buy network access and wireline services.

Do Revenues Turn Into Profits?

Yes. It kept 12 cents of every revenue dollar as net income in FY2025.

Operating income, FY2025

21% of revenue

▲ +2% vs FY2024 ($28.7B, 21%)

Net income, FY2025

12% of revenue

▼ −2% vs FY2024 ($17.5B, 13%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −1%; vs $34.5B in Q2 FY2025
Net income: ▼ −23%; vs $5B in Q2 FY2025

Service revenues and other share of revenue vs 81.9% in Q2 FY2025

Jun 17, 2026 Verizon completed exchange offers and note consent solicitations It accepted notes tendered in exchange for newly issued notes and obtained consents to amend certain note indentures.

Flat. Revenue was $138.2B in FY2025, about the same as the $133.6B of FY2021.

Revenue over time

Service revenues and other Wireless equipment

$200B$100B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with AT&T, T-Mobile US, Comcast, and Charter Communications

Comments