Verizon Communications Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	138,191	134,788	133,974	136,835	133,613
Revenue Growth (YoY)	2.53%	0.61%	-2.09%	2.41%	4.15%
Cost of Revenue	56,765	53,908	54,805	59,133	56,301
Gross Profit	81,426	80,880	79,169	77,702	77,312
Selling, General & Admin	33,818	32,089	31,299	29,832	24,441
Operating Expenses	52,167	49,981	48,902	46,931	40,647
Operating Income	29,259	30,899	30,267	30,771	36,665
Interest Expense	-6,694	-6,649	-5,524	-3,613	-3,485
Interest & Investment Income	-	336	354	146	48
Earnings From Equity Investments	-	-53	-53	44	145
Currency Exchange Gain (Loss)	-	-50	25	-	-
Other Non Operating Income (Expenses)	2,263	-208	-62	2,304	20
EBT Excluding Unusual Items	24,828	24,275	25,007	29,652	33,393
Merger & Restructuring Charges	-	-2,107	-1,368	-304	-209
Impairment of Goodwill	-	-	-5,868	-	-
Legal Settlements	-	-106	-100	-	-
Other Unusual Items	-2,156	917	-684	-1,077	-3,764
Pretax Income	22,672	22,979	16,987	28,271	29,420
Income Tax Expense	5,064	5,030	4,892	6,523	6,802
Earnings From Continuing Operations	17,608	17,949	12,095	21,748	22,618
Minority Interest in Earnings	-434	-443	-481	-492	-553
Net Income	17,174	17,506	11,614	21,256	22,065
Net Income to Common	17,174	17,506	11,614	21,256	22,065
Net Income Growth	-1.90%	50.73%	-45.36%	-3.67%	23.95%
Shares Outstanding (Basic)	4,226	4,218	4,211	4,202	4,148
Shares Outstanding (Diluted)	4,231	4,223	4,215	4,204	4,150
Shares Change (YoY)	0.19%	0.19%	0.26%	1.30%	0.19%
EPS (Basic)	4.06	4.15	2.76	5.06	5.32
EPS (Diluted)	4.06	4.14	2.75	5.06	5.32
EPS Growth	-1.93%	50.54%	-45.64%	-4.90%	23.71%
Free Cash Flow	20,126	19,822	18,708	14,054	19,253
Free Cash Flow Per Share	4.76	4.69	4.44	3.34	4.64
Dividend Per Share	2.735	2.685	2.635	2.585	2.535
Dividend Growth	1.86%	1.90%	1.93%	1.97%	2.01%
Gross Margin	58.92%	60.00%	59.09%	56.78%	57.86%
Operating Margin	21.17%	22.92%	22.59%	22.49%	27.44%
Profit Margin	12.43%	12.99%	8.67%	15.53%	16.51%
Free Cash Flow Margin	14.56%	14.71%	13.96%	10.27%	14.41%
EBITDA	47,608	48,791	47,870	47,870	52,871
EBITDA Margin	34.45%	36.20%	35.73%	34.98%	39.57%
D&A For EBITDA	18,349	17,892	17,603	17,099	16,206
EBIT	29,259	30,899	30,267	30,771	36,665
EBIT Margin	21.17%	22.92%	22.59%	22.49%	27.44%
Effective Tax Rate	22.34%	21.89%	28.80%	23.07%	23.12%
Revenue as Reported	138,191	134,788	133,974	136,835	133,613
Advertising Expenses	-	3,976	3,847	3,556	3,394

Source: S&P Global Market Intelligence. Standard template. Financial Sources.