Verizon Communications Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Revenue	135,292	134,788	133,974	136,835	133,613	128,292	Upgrade
Revenue Growth (YoY)	0.93%	0.61%	-2.09%	2.41%	4.15%	-2.71%	Upgrade
Cost of Revenue	54,092	53,908	54,805	59,133	56,301	51,201	Upgrade
Gross Profit	81,200	80,880	79,169	77,702	77,312	77,091	Upgrade
Selling, General & Admin	31,820	32,089	31,299	29,832	24,441	28,982	Upgrade
Operating Expenses	49,844	49,981	48,902	46,931	40,647	45,702	Upgrade
Operating Income	31,356	30,899	30,267	30,771	36,665	31,389	Upgrade
Interest Expense	-6,646	-6,649	-5,524	-3,613	-3,485	-4,247	Upgrade
Interest & Investment Income	336	336	354	146	48	65	Upgrade
Earnings From Equity Investments	-38	-53	-53	44	145	-45	Upgrade
Currency Exchange Gain (Loss)	-50	-50	25	-	-	-	Upgrade
Other Non Operating Income (Expenses)	-285	-208	-62	2,304	20	-50	Upgrade
EBT Excluding Unusual Items	24,673	24,275	25,007	29,652	33,393	27,112	Upgrade
Merger & Restructuring Charges	-2,107	-2,107	-1,368	-304	-209	-221	Upgrade
Impairment of Goodwill	-	-	-5,868	-	-	-	Upgrade
Legal Settlements	-106	-106	-100	-	-	-	Upgrade
Other Unusual Items	917	917	-684	-1,077	-3,764	-2,924	Upgrade
Pretax Income	23,377	22,979	16,987	28,271	29,420	23,967	Upgrade
Income Tax Expense	5,167	5,030	4,892	6,523	6,802	5,619	Upgrade
Earnings From Continuing Operations	18,210	17,949	12,095	21,748	22,618	18,348	Upgrade
Minority Interest in Earnings	-427	-443	-481	-492	-553	-547	Upgrade
Net Income	17,783	17,506	11,614	21,256	22,065	17,801	Upgrade
Net Income to Common	17,783	17,506	11,614	21,256	22,065	17,801	Upgrade
Net Income Growth	57.27%	50.73%	-45.36%	-3.67%	23.95%	-7.60%	Upgrade
Shares Outstanding (Basic)	4,220	4,218	4,211	4,202	4,148	4,140	Upgrade
Shares Outstanding (Diluted)	4,225	4,223	4,215	4,204	4,150	4,142	Upgrade
Shares Change (YoY)	0.18%	0.19%	0.26%	1.30%	0.19%	0.05%	Upgrade
EPS (Basic)	4.21	4.15	2.76	5.06	5.32	4.30	Upgrade
EPS (Diluted)	4.20	4.14	2.75	5.06	5.32	4.30	Upgrade
EPS Growth	57.26%	50.54%	-45.64%	-4.90%	23.71%	-7.53%	Upgrade
Free Cash Flow	20,751	19,822	18,708	14,054	19,253	23,576	Upgrade
Free Cash Flow Per Share	4.91	4.69	4.44	3.34	4.64	5.69	Upgrade
Dividend Per Share	2.697	2.685	2.635	2.585	2.535	2.485	Upgrade
Dividend Growth	1.89%	1.90%	1.93%	1.97%	2.01%	2.05%	Upgrade
Gross Margin	60.02%	60.00%	59.09%	56.78%	57.86%	60.09%	Upgrade
Operating Margin	23.18%	22.92%	22.59%	22.49%	27.44%	24.47%	Upgrade
Profit Margin	13.14%	12.99%	8.67%	15.53%	16.51%	13.88%	Upgrade
Free Cash Flow Margin	15.34%	14.71%	13.96%	10.27%	14.41%	18.38%	Upgrade
EBITDA	49,380	48,791	47,870	47,870	52,871	48,109	Upgrade
EBITDA Margin	36.50%	36.20%	35.73%	34.98%	39.57%	37.50%	Upgrade
D&A For EBITDA	18,024	17,892	17,603	17,099	16,206	16,720	Upgrade
EBIT	31,356	30,899	30,267	30,771	36,665	31,389	Upgrade
EBIT Margin	23.18%	22.92%	22.59%	22.49%	27.44%	24.47%	Upgrade
Effective Tax Rate	22.10%	21.89%	28.80%	23.07%	23.12%	23.45%	Upgrade
Revenue as Reported	135,292	134,788	133,974	136,835	133,613	128,292	Upgrade
Advertising Expenses	-	3,976	3,847	3,556	3,394	3,107	Upgrade

Updated Feb 12, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.