Verizon Communications Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	2018 - 2014
Period Ending	Sep '24 Sep 30, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019	2018 - 2014
Revenue	134,237	133,974	136,835	133,613	128,292	131,868	Upgrade
Revenue Growth (YoY)	0.11%	-2.09%	2.41%	4.15%	-2.71%	0.77%	Upgrade
Cost of Revenue	53,568	54,805	59,133	56,301	51,201	54,726	Upgrade
Gross Profit	80,669	79,169	77,702	77,312	77,091	77,142	Upgrade
Selling, General & Admin	32,240	31,299	29,105	24,441	28,982	29,143	Upgrade
Operating Expenses	50,142	48,902	46,204	40,647	45,702	45,825	Upgrade
Operating Income	30,527	30,267	31,498	36,665	31,389	31,317	Upgrade
Interest Expense	-6,604	-5,524	-3,613	-3,485	-4,247	-4,730	Upgrade
Interest & Investment Income	347	354	146	48	65	121	Upgrade
Earnings From Equity Investments	-58	-53	44	145	-45	-15	Upgrade
Currency Exchange Gain (Loss)	40	25	-97	-	-	-	Upgrade
Other Non Operating Income (Expenses)	-101	-62	15	20	-50	-44	Upgrade
EBT Excluding Unusual Items	24,151	25,007	27,993	33,393	27,112	26,649	Upgrade
Merger & Restructuring Charges	-2,509	-1,368	-304	-209	-221	-	Upgrade
Impairment of Goodwill	-5,868	-5,868	-16	-	-	-186	Upgrade
Legal Settlements	-206	-100	-	-	-	-	Upgrade
Other Unusual Items	-974	-684	598	-3,764	-2,924	-3,730	Upgrade
Pretax Income	14,594	16,987	28,271	29,420	23,967	22,733	Upgrade
Income Tax Expense	4,332	4,892	6,523	6,802	5,619	2,945	Upgrade
Earnings From Continuing Operations	10,262	12,095	21,748	22,618	18,348	19,788	Upgrade
Minority Interest in Earnings	-466	-481	-492	-553	-547	-523	Upgrade
Net Income	9,796	11,614	21,256	22,065	17,801	19,265	Upgrade
Net Income to Common	9,796	11,614	21,256	22,065	17,801	19,265	Upgrade
Net Income Growth	-53.12%	-45.36%	-3.67%	23.95%	-7.60%	24.07%	Upgrade
Shares Outstanding (Basic)	4,217	4,211	4,202	4,148	4,140	4,138	Upgrade
Shares Outstanding (Diluted)	4,220	4,215	4,204	4,150	4,142	4,140	Upgrade
Shares Change (YoY)	0.19%	0.26%	1.30%	0.19%	0.05%	0.19%	Upgrade
EPS (Basic)	2.32	2.76	5.06	5.32	4.30	4.66	Upgrade
EPS (Diluted)	2.31	2.75	5.06	5.32	4.30	4.65	Upgrade
EPS Growth	-53.44%	-45.64%	-4.90%	23.71%	-7.53%	23.67%	Upgrade
Free Cash Flow	18,535	18,708	14,054	19,253	23,576	17,807	Upgrade
Free Cash Flow Per Share	4.39	4.44	3.34	4.64	5.69	4.30	Upgrade
Dividend Per Share	2.672	2.635	2.585	2.535	2.485	2.435	Upgrade
Dividend Growth	1.91%	1.93%	1.97%	2.01%	2.05%	2.10%	Upgrade
Gross Margin	60.09%	59.09%	56.79%	57.86%	60.09%	58.50%	Upgrade
Operating Margin	22.74%	22.59%	23.02%	27.44%	24.47%	23.75%	Upgrade
Profit Margin	7.30%	8.67%	15.53%	16.51%	13.88%	14.61%	Upgrade
Free Cash Flow Margin	13.81%	13.96%	10.27%	14.41%	18.38%	13.50%	Upgrade
EBITDA	48,429	47,870	48,597	52,871	48,109	47,999	Upgrade
EBITDA Margin	36.08%	35.73%	35.52%	39.57%	37.50%	36.40%	Upgrade
D&A For EBITDA	17,902	17,603	17,099	16,206	16,720	16,682	Upgrade
EBIT	30,527	30,267	31,498	36,665	31,389	31,317	Upgrade
EBIT Margin	22.74%	22.59%	23.02%	27.44%	24.47%	23.75%	Upgrade
Effective Tax Rate	29.68%	28.80%	23.07%	23.12%	23.44%	12.95%	Upgrade
Revenue as Reported	134,237	133,974	136,835	133,613	128,292	131,868	Upgrade
Advertising Expenses	-	3,847	3,556	3,394	3,107	3,071	Upgrade

Source: S&P Capital IQ. Standard template. Financial Sources.