Verizon Communications Inc. (BMV:VZ)

Verizon Communications Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	137,491	134,788	133,974	136,835	133,613	128,292
Revenue Growth (YoY)	2.42%	0.61%	-2.09%	2.41%	4.15%	-2.71%
Cost of Revenue	55,801	53,908	54,805	59,133	56,301	51,201
Gross Profit	81,690	80,880	79,169	77,702	77,312	77,091
Selling, General & Admin	31,496	32,089	31,299	29,832	24,441	28,982
Operating Expenses	49,832	49,981	48,902	46,931	40,647	45,702
Operating Income	31,858	30,899	30,267	30,771	36,665	31,389
Interest Expense	-6,579	-6,649	-5,524	-3,613	-3,485	-4,247
Interest & Investment Income	264	336	354	146	48	65
Earnings From Equity Investments	-9	-53	-53	44	145	-45
Currency Exchange Gain (Loss)	32	-50	25	-	-	-
Other Non Operating Income (Expenses)	-373	-208	-62	2,304	20	-50
EBT Excluding Unusual Items	25,193	24,275	25,007	29,652	33,393	27,112
Merger & Restructuring Charges	-426	-2,107	-1,368	-304	-209	-221
Impairment of Goodwill	-	-	-5,868	-	-	-
Legal Settlements	-	-106	-100	-	-	-
Other Unusual Items	1,410	917	-684	-1,077	-3,764	-2,924
Pretax Income	26,177	22,979	16,987	28,271	29,420	23,967
Income Tax Expense	5,903	5,030	4,892	6,523	6,802	5,619
Earnings From Continuing Operations	20,274	17,949	12,095	21,748	22,618	18,348
Minority Interest in Earnings	-437	-443	-481	-492	-553	-547
Net Income	19,837	17,506	11,614	21,256	22,065	17,801
Net Income to Common	19,837	17,506	11,614	21,256	22,065	17,801
Net Income Growth	102.50%	50.73%	-45.36%	-3.67%	23.95%	-7.60%
Shares Outstanding (Basic)	4,224	4,218	4,211	4,202	4,148	4,140
Shares Outstanding (Diluted)	4,229	4,223	4,215	4,204	4,150	4,142
Shares Change (YoY)	0.21%	0.19%	0.26%	1.30%	0.19%	0.05%
EPS (Basic)	4.70	4.15	2.76	5.06	5.32	4.30
EPS (Diluted)	4.69	4.14	2.75	5.06	5.32	4.30
EPS Growth	102.83%	50.54%	-45.64%	-4.90%	23.71%	-7.53%
Free Cash Flow	21,121	19,822	18,708	14,054	19,253	23,576
Free Cash Flow Per Share	4.99	4.69	4.44	3.34	4.64	5.69
Dividend Per Share	2.723	2.685	2.635	2.585	2.535	2.485
Dividend Growth	1.87%	1.90%	1.93%	1.97%	2.01%	2.05%
Gross Margin	59.41%	60.00%	59.09%	56.78%	57.86%	60.09%
Operating Margin	23.17%	22.92%	22.59%	22.49%	27.44%	24.47%
Profit Margin	14.43%	12.99%	8.67%	15.53%	16.51%	13.88%
Free Cash Flow Margin	15.36%	14.71%	13.96%	10.27%	14.41%	18.38%
EBITDA	50,194	48,791	47,870	47,870	52,871	48,109
EBITDA Margin	36.51%	36.20%	35.73%	34.98%	39.57%	37.50%
D&A For EBITDA	18,336	17,892	17,603	17,099	16,206	16,720
EBIT	31,858	30,899	30,267	30,771	36,665	31,389
EBIT Margin	23.17%	22.92%	22.59%	22.49%	27.44%	24.47%
Effective Tax Rate	22.55%	21.89%	28.80%	23.07%	23.12%	23.45%
Revenue as Reported	137,491	134,788	133,974	136,835	133,613	128,292
Advertising Expenses	-	3,976	3,847	3,556	3,394	3,107

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.