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.

Revenue model

Recurring subscription fees from postpaid and prepaid wireless plans, FWA broadband, Fios internet and video services, and business managed network and IoT services. Device financing and service contracts anchor consumer retention.

Products and services

Consumer: postpaid and prepaid wireless service, fixed wireless access (FWA) broadband, Fios internet, Fios video, DSL. Business: mobility communication services, FWA and wireline broadband, IoT connectivity, advanced communication services, corporate networking, local and long distance voice, security and managed network services.

Customers and end markets

Consumer subscribers (approximately 116 million wireless retail connections as of December 31, 2025). Business customers include enterprises, small and mid-size businesses, public sector entities, and domestic and international wireless and wireline carriers.

Value-chain role

Network operator and retail service provider. Owns and operates the underlying wireless and wireline network infrastructure and sells services directly to end customers.

Geographic exposure

Primarily United States. Business segment also provides a subset of products and services to customers internationally.

Source: SEC 10-K, filed 2026-02-17

Industry: Telephone Communications (No Radiotelephone) Peers: AT&T Inc ATN International Inc Frontier Communications Parent, Inc. Consolidated Communications Holdings, Inc. Radius Global Infrastructure, Inc. IDT Corp Ooma Inc Starry Group Holdings, Inc.