Verizon delivered strong financial growth with industry-leading wireless service revenue in 1Q 2025
Verizon (VZ) reported strong Q1 2025 financial results with total operating revenue of $33.5 billion, up 1.5% year over year. The company achieved industry-leading wireless service revenue of $20.8 billion, representing a 2.7% increase.
Key financial metrics include EPS of $1.15 (up from $1.09 in Q1 2024), net income of $5.0 billion (up from $4.7 billion), and free cash flow of $3.6 billion (up from $2.7 billion). The company's broadband segment added 339,000 net subscribers, including 308,000 fixed wireless access additions.
However, Verizon faced challenges in its mobility segment with 289,000 total postpaid phone net losses. The Consumer segment reported 356,000 wireless retail postpaid phone net losses, while the Business segment added 67,000 postpaid phone subscribers.
Verizon (VZ) ha riportato risultati finanziari solidi nel primo trimestre 2025 con un fatturato operativo totale di 33,5 miliardi di dollari, in aumento dell'1,5% rispetto all'anno precedente. L'azienda ha raggiunto un fatturato da servizi wireless leader nel settore pari a 20,8 miliardi di dollari, con un incremento del 2,7%.
I principali indicatori finanziari includono un utile per azione (EPS) di 1,15 dollari (in crescita rispetto a 1,09 dollari nel primo trimestre 2024), un reddito netto di 5,0 miliardi di dollari (rispetto ai 4,7 miliardi precedenti) e un flusso di cassa libero di 3,6 miliardi di dollari (in aumento da 2,7 miliardi). Il segmento banda larga ha aggiunto 339.000 abbonati netti, di cui 308.000 relativi a accessi wireless fissi.
Tuttavia, Verizon ha incontrato difficoltà nel segmento mobilità, con una perdita netta di 289.000 telefoni postpagati. Il segmento Consumer ha registrato una perdita netta di 356.000 telefoni postpagati al dettaglio wireless, mentre il segmento Business ha aggiunto 67.000 abbonati postpagati.
Verizon (VZ) reportó sólidos resultados financieros en el primer trimestre de 2025 con ingresos operativos totales de 33,5 mil millones de dólares, un aumento del 1,5% interanual. La compañía alcanzó ingresos por servicios inalámbricos líderes en la industria de 20,8 mil millones de dólares, lo que representa un incremento del 2,7%.
Los principales indicadores financieros incluyen un beneficio por acción (EPS) de 1,15 dólares (frente a 1,09 dólares en el primer trimestre de 2024), un ingreso neto de 5,0 mil millones de dólares (frente a 4,7 mil millones) y un flujo de caja libre de 3,6 mil millones de dólares (frente a 2,7 mil millones). El segmento de banda ancha sumó 339.000 suscriptores netos, incluyendo 308.000 adiciones de acceso inalámbrico fijo.
No obstante, Verizon enfrentó desafíos en su segmento de movilidad con una pérdida neta total de 289.000 teléfonos postpago. El segmento de Consumidores reportó una pérdida neta de 356.000 teléfonos postpago minoristas inalámbricos, mientras que el segmento de Negocios añadió 67.000 suscriptores postpago.
Verizon (VZ)는 2025년 1분기에 총 영업 수익이 335억 달러로 전년 대비 1.5% 증가한 견고한 재무 성과를 보고했습니다. 회사는 업계 선도적인 무선 서비스 수익 208억 달러를 달성했으며, 이는 2.7% 증가한 수치입니다.
주요 재무 지표로는 주당순이익(EPS) 1.15달러(2024년 1분기 1.09달러 대비 증가), 순이익 50억 달러(47억 달러에서 증가), 자유 현금 흐름 36억 달러(27억 달러에서 증가)가 포함됩니다. 브로드밴드 부문은 33만 9천 명의 순 가입자를 추가했으며, 이 중 30만 8천 명은 고정 무선 접속 가입자입니다.
그러나 Verizon은 모빌리티 부문에서 28만 9천 명의 총 후불제 휴대폰 순손실을 겪는 어려움을 겪었습니다. 소비자 부문은 35만 6천 명의 무선 소매 후불제 휴대폰 순손실을 보고한 반면, 비즈니스 부문은 6만 7천 명의 후불제 휴대폰 가입자를 추가했습니다.
Verizon (VZ) a annoncé de solides résultats financiers pour le premier trimestre 2025 avec un chiffre d'affaires total de 33,5 milliards de dollars, en hausse de 1,5 % par rapport à l'année précédente. L'entreprise a réalisé des revenus de services sans fil leaders dans le secteur, s'élevant à 20,8 milliards de dollars, soit une augmentation de 2,7 %.
Les principaux indicateurs financiers comprennent un bénéfice par action (BPA) de 1,15 $ (contre 1,09 $ au T1 2024), un revenu net de 5,0 milliards de dollars (contre 4,7 milliards) et un flux de trésorerie disponible de 3,6 milliards de dollars (contre 2,7 milliards). Le segment haut débit a ajouté 339 000 abonnés nets, dont 308 000 pour l'accès sans fil fixe.
Cependant, Verizon a rencontré des difficultés dans son segment mobilité avec une perte nette de 289 000 téléphones postpayés. Le segment grand public a enregistré une perte nette de 356 000 téléphones postpayés en vente au détail sans fil, tandis que le segment entreprises a ajouté 67 000 abonnés postpayés.
Verizon (VZ) meldete starke Finanzergebnisse für das erste Quartal 2025 mit einem Gesamtumsatz von 33,5 Milliarden US-Dollar, was einem Anstieg von 1,5 % im Jahresvergleich entspricht. Das Unternehmen erzielte branchenführende Einnahmen im Bereich Wireless-Services von 20,8 Milliarden US-Dollar, was einem Zuwachs von 2,7 % entspricht.
Wichtige Finanzkennzahlen umfassen einen Gewinn je Aktie (EPS) von 1,15 USD (gegenüber 1,09 USD im ersten Quartal 2024), einen Nettogewinn von 5,0 Milliarden USD (vorher 4,7 Milliarden) und einen freien Cashflow von 3,6 Milliarden USD (vorher 2,7 Milliarden). Das Breitbandsegment verzeichnete einen Nettozuwachs von 339.000 Abonnenten, davon 308.000 im Bereich Fixed Wireless Access.
Verizon hatte jedoch im Mobilitätssegment mit einem Nettoverlust von 289.000 Postpaid-Handys zu kämpfen. Das Consumer-Segment meldete einen Nettoverlust von 356.000 Wireless-Retail-Postpaid-Handys, während das Business-Segment 67.000 Postpaid-Handy-Abonnenten hinzufügte.
- Operating revenue increased 1.5% YoY to $33.5 billion
- Wireless service revenue grew 2.7% to $20.8 billion
- Net income improved to $5.0 billion from $4.7 billion YoY
- Free cash flow increased to $3.6 billion from $2.7 billion YoY
- Strong broadband growth with 339,000 net additions
- Business segment operating income increased 66.4% YoY
- 289,000 total postpaid phone net losses in Q1
- Consumer segment lost 356,000 wireless retail postpaid phone subscribers
- Business segment revenue decreased 1.2% YoY
- Consumer segment operating margin declined to 29.0% from 29.4% YoY
Insights
Verizon delivers revenue growth and improved profitability despite wireless subscriber losses, with broadband and fixed wireless driving future growth momentum.
Verizon's Q1 2025 results demonstrate the company's ability to drive financial growth despite competitive pressures in its core wireless business. The 1.5% year-over-year revenue increase to
The wireless service revenue growth of
The broadband business represents a clear growth engine with 339,000 total net additions. The fixed wireless access segment added 308,000 subscribers, bringing the total to over 4.8 million. This positions Verizon well toward its goal of 8-9 million fixed wireless subscribers by 2028, providing a sustainable growth avenue beyond traditional wireless.
Financial discipline is evident in the improved free cash flow of
The Business segment shows substantial margin improvement with operating income margin increasing from
Verizon's reaffirmation of its full-year 2025 guidance signals management confidence in their strategic direction and ability to deliver consistent results throughout the year. The balanced performance across financial metrics and operational execution demonstrates that Verizon remains resilient despite the competitive wireless landscape.
Customer segmentation strategy is a key driver of successful financial performance
Verizon remains confident in full-year 2025 guidance
Key 1Q 2025 Highlights
- Industry-leading total wireless service revenue1 of
$20.8 billion - Best wireless retail core prepaid2 net additions since the TracFone acquisition
- Continued to take broadband market share with strong demand for Fios and fixed wireless access
- Verizon exits first quarter with momentum in both mobility and broadband
NEW YORK, April 22, 2025 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (NYSE, Nasdaq: VZ) today reported strong financial performance for the first-quarter of 2025, fueled by innovative and segmented product offerings that meet the ever-changing needs of consumers and businesses across market sectors. The company's strategically designed portfolio of diversified wireless and broadband products and adjacent services positioned Verizon for a successful quarter, as well as resiliency in any economic environment. With a focus on growing connections and strengthening customer relationships, the company's strategic and disciplined approach drove success across its three priorities of growing wireless service revenue, expanding adjusted EBITDA3 and generating strong free cash flow3. Verizon remains confident in achieving its 2025 goals and delivering on its full-year guidance.
"Verizon plays an essential role in our customers’ lives and our differentiated value proposition delivers what customers want and need, on their terms," said Verizon Chairman and CEO Hans Vestberg. "We continue to drive our multi-year customer-first strategy, launching new programs such as our 3-year price lock and free phone guarantee for consumers and My Biz Plan for small and medium sized businesses. With our high quality customer base, network superiority and position of financial strength, we have the momentum and flexibility to continue innovating to meet customer needs and invest for growth."
1Q 2025 Highlights
Consolidated: Improved earnings per share (EPS), revenue and net income in first-quarter 2025, highlighting strong financials
- EPS of
$1.15 in first-quarter 2025 compared to EPS of$1.09 in first-quarter 2024; adjusted EPS3, excluding special items, of$1.19 compared to$1.15 in first-quarter 2024. - Total operating revenue of
$33.5 billion in first-quarter 2025, up 1.5 percent year over year. - Cash flow from operations totaled
$7.8 billion in first-quarter 2025, up from$7.1 billion in first-quarter 2024. - Free cash flow3 was
$3.6 billion in first-quarter 2025, up from$2.7 billion in first-quarter 2024. - Consolidated net income for first-quarter 2025 was
$5.0 billion compared to$4.7 billion in first-quarter 2024. Consolidated adjusted EBITDA3 was$12.6 billion in first-quarter 2025 compared to$12.1 billion in first-quarter 2024. - Verizon's total unsecured debt as of the end of first-quarter 2025 was
$117.3 billion , compared to$117.9 billion at the end of fourth-quarter 2024 and$128.4 billion at the end of first-quarter 2024. The company's net unsecured debt3 at the end of first-quarter 2025 was$115.1 billion . At the end of first-quarter 2025, Verizon's ratio of unsecured debt to net income (LTM) was 6.4 times and net unsecured debt to consolidated adjusted EBITDA ratio3 was 2.3 times.
Mobility: Industry-leading wireless service revenue in first-quarter 2025
- Total wireless service revenue1 in first-quarter 2025 was an industry-leading
$20.8 billion , up 2.7 percent year over year. - Wireless equipment revenue of
$5.4 billion in first-quarter 2025, up 0.7 percent year over year. - Total postpaid phone net losses of 289,000 in first-quarter 2025 compared to 114,000 postpaid phone net losses in first-quarter 2024.
Broadband: Verizon continued to take broadband market share with strong demand for best in class Fios and fixed wireless access offerings
- Broadband net additions of 339,000 in first-quarter 2025.
- Total fixed wireless access net additions of 308,000 in first-quarter 2025, growing the base to over 4.8 million fixed wireless access subscribers. The company is well-positioned to achieve the next milestone of 8 to 9 million fixed wireless access subscribers by 2028.
- Fios internet net additions were 45,000 in first-quarter 2025 compared to 53,000 in first-quarter 2024.
- Total broadband connections grew to more than 12.6 million as of the end of first-quarter 2025, representing a 13.7 percent increase year over year.
Verizon Consumer: Total revenue increases year over year to
- Total Verizon Consumer revenue in first-quarter 2025 was
$25.6 billion , an increase of 2.2 percent year over year, predominantly driven by gains in wireless service revenue. - Consumer wireless service revenue in first-quarter 2025 was
$17.2 billion , up 2.6 percent year over year. - Consumer wireless retail postpaid churn was 1.13 percent in first-quarter 2025, and wireless retail postpaid phone churn was 0.90 percent.
- Consumer wireless postpaid average revenue per account (ARPA) of
$146.46 in first-quarter 2025, an increase of 3.6 percent year over year. - In first-quarter 2025, Consumer reported 356,000 wireless retail postpaid phone net losses compared to 194,000 postpaid phone net losses in first-quarter 2024.
- In first-quarter 2025, Consumer reported 137,000 wireless retail core prepaid2 net additions compared to 131,000 net losses in first-quarter 2024.
- Consumer reported 199,000 fixed wireless net additions and 41,000 Fios Internet net additions in first-quarter 2025. Consumer Fios revenue was
$2.9 billion in first-quarter 2025. - In first-quarter 2025, Consumer operating income was
$7.4 billion , an increase of 0.7 percent year over year, and segment operating income margin was 29.0 percent, compared to 29.4 percent in first-quarter 2024. Segment EBITDA3 in first-quarter 2025 was$11.0 billion , an increase of 2.7 percent year over year. These results were driven by improvements in Consumer wireless service revenue. Segment EBITDA margin3 in first-quarter 2025 was 42.8 percent compared to 42.6 percent in first-quarter 2024.
Verizon Business: Operating income increases with strong wireless service revenue growth
- Total Verizon Business revenue was
$7.3 billion in first-quarter 2025, a decrease of 1.2 percent year over year. - Business wireless service revenue in first-quarter 2025 was
$3.6 billion , an increase of 2.8 percent year over year. - Business reported 94,000 wireless retail postpaid net additions in first-quarter 2025. This result included 67,000 postpaid phone net additions.
- Business wireless retail postpaid churn was 1.52 percent in first-quarter 2025, and wireless retail postpaid phone churn was 1.15 percent.
- Business reported 109,000 fixed wireless net additions in first-quarter 2025.
- In first-quarter 2025, Verizon Business operating income was
$664 million , an increase of 66.4 percent year over year, resulting in segment operating income margin of 9.1 percent, an increase from 5.4 percent in first-quarter 2024. Segment EBITDA3 in first-quarter 2025 was$1.7 billion , an increase of 10.3 percent year over year. Segment EBITDA margin3 in first-quarter 2025 was 23.1 percent, an increase from 20.7 percent in first-quarter 2024.
Outlook and guidance
The company does not provide a reconciliation for certain of the following adjusted (non-GAAP) forecasts because it cannot, without unreasonable effort, predict the special items that could arise, and the company is unable to address the probable significance of the unavailable information.
For 2025, Verizon continues to expect the following:
- Total wireless service revenue1 growth of 2.0 percent to 2.8 percent.
- Adjusted EBITDA3 growth of 2.0 percent to 3.5 percent.
- Adjusted EPS3 growth of 0 to 3.0 percent.
- Cash flow from operations of
$35.0 billion to$37.0 billion . - Capital expenditures between
$17.5 billion and$18.5 billion . - Free cash flow3 of
$17.5 billion to$18.5 billion .
Our 2025 financial guidance does not reflect any assumptions regarding the potential impacts of the evolving tariff environment.
1 Total wireless service revenue represents the sum of Consumer and Business segments. Reflects the reclassification of recurring device protection and insurance related plan revenues from other revenue into wireless service revenue in the first quarter of 2025. Where applicable, historical results have been recast to conform to the current period presentation.
2 Represents total prepaid results excluding our SafeLink brand.
3 Non-GAAP financial measure. See the accompanying schedules and www.verizon.com/about/investors for reconciliations of non-GAAP financial measures cited in this document to most directly comparable financial measures under generally accepted accounting principles (GAAP).
Verizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its millions of customers live, work and play, delivering on their demand for mobility, reliable network connectivity and security. Headquartered in New York City, serving countries worldwide and nearly all of the Fortune 500, Verizon generated revenues of
VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at verizon.com/news. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.
Forward-looking statements
In this communication we have made forward-looking statements. These statements are based on our estimates and assumptions and are subject to risks and uncertainties. Forward-looking statements include the information concerning our possible or assumed future results of operations. Forward-looking statements also include those preceded or followed by the words “anticipates,” “assumes,” “believes,” “estimates,” “expects,” “forecasts,” “hopes,” “intends,” “plans,” “targets” or similar expressions. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The following important factors, along with those discussed in our filings with the Securities and Exchange Commission (the “SEC”), could affect future results and could cause those results to differ materially from those expressed in the forward-looking statements: the effects of competition in the markets in which we operate, including the inability to successfully respond to competitive factors such as prices, promotional incentives and evolving consumer preferences; failure to take advantage of, or respond to competitors' use of, developments in technology, including artificial intelligence, and address changes in consumer demand; performance issues or delays in the deployment of our 5G network resulting in significant costs or a reduction in the anticipated benefits of the enhancement to our networks; the inability to implement our business strategy; adverse conditions in the U.S. and international economies, including inflation and changing interest rates in the markets in which we operate; changes to international trade and tariff policies and related economic and other impacts; cyberattacks impacting our networks or systems and any resulting financial or reputational impact; damage to our infrastructure or disruption of our operations from natural disasters, extreme weather conditions, acts of war, terrorist attacks or other hostile acts and any resulting financial or reputational impact; disruption of our key suppliers’ or vendors' provisioning of products or services, including as a result of geopolitical factors or the potential impacts of global climate change; material adverse changes in labor matters and any resulting financial or operational impact; damage to our reputation or brands; the impact of public health crises on our business, operations, employees and customers; changes in the regulatory environment in which we operate, including any increase in restrictions on our ability to operate our networks or businesses; allegations regarding the release of hazardous materials or pollutants into the environment from our, or our predecessors’, network assets and any related government investigations, regulatory developments, litigation, penalties and other liability, remediation and compliance costs, operational impacts or reputational damage; our high level of indebtedness; significant litigation and any resulting material expenses incurred in defending against lawsuits or paying awards or settlements; an adverse change in the ratings afforded our debt securities by nationally accredited ratings organizations or adverse conditions in the credit markets affecting the cost, including interest rates, and/or availability of further financing; significant increases in benefit plan costs or lower investment returns on plan assets; changes in tax laws or regulations, or in their interpretation, or challenges to our tax positions, resulting in additional tax expense or liabilities; changes in accounting assumptions that regulatory agencies, including the SEC, may require or that result from changes in the accounting rules or their application, which could result in an impact on earnings; and risks associated with mergers, acquisitions, divestitures and other strategic transactions, including our ability to consummate the proposed acquisition of Frontier Communications Parent, Inc. and obtain cost savings, synergies and other anticipated benefits within the expected time period or at all.
Non-GAAP Reconciliations - Consolidated Verizon
| Consolidated EBITDA and Consolidated Adjusted EBITDA | |||||||||||||||||||
| (dollars in millions) | |||||||||||||||||||
| Unaudited | 3 Mos. Ended 3/31/25 | 3 Mos. Ended 12/31/24 | 3 Mos. Ended 9/30/24 | 3 Mos. Ended 6/30/24 | 3 Mos. Ended 3/31/24 | ||||||||||||||
| Consolidated Net Income | $ | 4,983 | $ | 5,114 | $ | 3,411 | $ | 4,702 | $ | 4,722 | |||||||||
| Add: | |||||||||||||||||||
| Provision for income taxes | 1,490 | 1,454 | 891 | 1,332 | 1,353 | ||||||||||||||
| Interest expense | 1,632 | 1,644 | 1,672 | 1,698 | 1,635 | ||||||||||||||
| Depreciation and amortization expense(1) | 4,577 | 4,506 | 4,458 | 4,483 | 4,445 | ||||||||||||||
| Consolidated EBITDA | $ | 12,682 | $ | 12,718 | $ | 10,432 | $ | 12,215 | $ | 12,155 | |||||||||
| Add/(subtract): | |||||||||||||||||||
| Other (income) expense, net(2) | $ | (121 | ) | $ | (797 | ) | $ | (72 | ) | $ | 72 | $ | (198 | ) | |||||
| Equity in (earnings) losses of unconsolidated businesses | (6 | ) | 6 | 24 | 14 | 9 | |||||||||||||
| Severance charges | — | — | 1,733 | — | — | ||||||||||||||
| Asset and business rationalization | — | — | 374 | — | — | ||||||||||||||
| Legacy legal matter | — | — | — | — | 106 | ||||||||||||||
| (127 | ) | (791 | ) | 2,059 | 86 | (83 | ) | ||||||||||||
| Consolidated Adjusted EBITDA | $ | 12,555 | $ | 11,927 | $ | 12,491 | $ | 12,301 | $ | 12,072 | |||||||||
| Footnotes: | |||||||||||||||||||
| (1) Includes Amortization of acquisition-related intangible assets. | |||||||||||||||||||
| (2) Includes Pension and benefits remeasurement adjustments, where applicable. | |||||||||||||||||||
| Consolidated EBITDA and Consolidated Adjusted EBITDA (LTM) | ||||||||
| (dollars in millions) | ||||||||
| Unaudited | 12 Mos. Ended 3/31/25 | 12 Mos. Ended 12/31/24 | ||||||
| Consolidated Net Income | $ | 18,210 | $ | 17,949 | ||||
| Add: | ||||||||
| Provision for income taxes | 5,167 | 5,030 | ||||||
| Interest expense | 6,646 | 6,649 | ||||||
| Depreciation and amortization expense(1) | 18,024 | 17,892 | ||||||
| Consolidated EBITDA | $ | 48,047 | $ | 47,520 | ||||
| Add/(subtract): | ||||||||
| Other income, net(2) | $ | (918 | ) | $ | (995 | ) | ||
| Equity in losses of unconsolidated businesses | 38 | 53 | ||||||
| Severance charges | 1,733 | 1,733 | ||||||
| Asset and business rationalization | 374 | 374 | ||||||
| Legacy legal matter | — | 106 | ||||||
| 1,227 | 1,271 | |||||||
| Consolidated Adjusted EBITDA | $ | 49,274 | $ | 48,791 | ||||
| Footnotes: | ||||||||
| (1) Includes Amortization of acquisition-related intangible assets. | ||||||||
| (2) Includes Pension and benefits remeasurement adjustments, where applicable. | ||||||||
| Net Unsecured Debt and Net Unsecured Debt to Consolidated Adjusted EBITDA Ratio | ||||||||||||
| (dollars in millions) | ||||||||||||
| Unaudited | 3/31/25 | 12/31/24 | 3/31/24 | |||||||||
| Debt maturing within one year | $ | 22,629 | $ | 22,633 | $ | 15,594 | ||||||
| Long-term debt | 121,020 | 121,381 | 136,104 | |||||||||
| Total Debt | 143,649 | 144,014 | 151,698 | |||||||||
| Less Secured debt | 26,336 | 26,138 | 23,290 | |||||||||
| Unsecured Debt | 117,313 | 117,876 | 128,408 | |||||||||
| Less Cash and cash equivalents | 2,257 | 4,194 | 2,365 | |||||||||
| Net Unsecured Debt | $ | 115,056 | $ | 113,682 | $ | 126,043 | ||||||
| Consolidated Net Income (LTM) | $ | 18,210 | $ | 17,949 | ||||||||
| Unsecured Debt to Consolidated Net Income Ratio | 6.4 | x | 6.6 | x | ||||||||
| Consolidated Adjusted EBITDA (LTM) | $ | 49,274 | $ | 48,791 | ||||||||
| Net Unsecured Debt to Consolidated Adjusted EBITDA Ratio | 2.3 | x | 2.3 | x | ||||||||
| Adjusted Earnings per Common Share (Adjusted EPS) | ||||||||||||||||||||||||||
| (dollars in millions, except per share amounts) | ||||||||||||||||||||||||||
| Unaudited | 3 Mos. Ended 3/31/25 | 3 Mos. Ended 3/31/24 | ||||||||||||||||||||||||
| Pre-tax | Tax | After-Tax | Pre-tax | Tax | After-Tax | |||||||||||||||||||||
| EPS | $ | 1.15 | $ | 1.09 | ||||||||||||||||||||||
| Amortization of acquisition-related intangible assets | $ | 190 | $ | (48 | ) | $ | 142 | 0.03 | $ | 221 | $ | (56 | ) | $ | 165 | 0.04 | ||||||||||
| Legacy legal matter | — | — | — | — | 106 | (27 | ) | 79 | 0.02 | |||||||||||||||||
| $ | 190 | $ | (48 | ) | $ | 142 | $ | 0.03 | $ | 327 | $ | (83 | ) | $ | 244 | $ | 0.06 | |||||||||
| Adjusted EPS | $ | 1.19 | $ | 1.15 | ||||||||||||||||||||||
| Footnote: | ||||||||||||||||||||||||||
| Adjusted EPS may not add due to rounding. | ||||||||||||||||||||||||||
| Free Cash Flow | ||||||||
| (dollars in millions) | ||||||||
| Unaudited | 3 Mos. Ended 3/31/25 | 3 Mos. Ended 3/31/24 | ||||||
| Net Cash Provided by Operating Activities | $ | 7,782 | $ | 7,084 | ||||
| Capital expenditures (including capitalized software) | (4,145 | ) | (4,376 | ) | ||||
| Free Cash Flow | $ | 3,637 | $ | 2,708 | ||||
| Free Cash Flow Forecast | |||
| (dollars in millions) | |||
| Unaudited | 12 Mos. Ended 12/31/25 | ||
| Net Cash Provided by Operating Activities Forecast | $ | 35,000 - 37,000 | |
| Capital expenditures forecast (including capitalized software) | (17,500 - 18,500) | ||
| Free Cash Flow Forecast | $ | 17,500 - 18,500 | |
Non-GAAP Reconciliations - Segments
| Segment EBITDA and Segment EBITDA Margin | ||||||||
| Consumer | ||||||||
| (dollars in millions) | ||||||||
| Unaudited | 3 Mos. Ended 3/31/25 | 3 Mos. Ended 3/31/24 | ||||||
| Operating Income | $ | 7,424 | $ | 7,372 | ||||
| Add Depreciation and amortization expense | 3,543 | 3,309 | ||||||
| Segment EBITDA | $ | 10,967 | $ | 10,681 | ||||
| Year over year change % | 2.7 | % | ||||||
| Total operating revenues | $ | 25,618 | $ | 25,057 | ||||
| Operating Income Margin | 29.0 | % | 29.4 | % | ||||
| Segment EBITDA Margin | 42.8 | % | 42.6 | % | ||||
| Business | ||||||||
| (dollars in millions) | ||||||||
| Unaudited | 3 Mos. Ended 3/31/25 | 3 Mos. Ended 3/31/24 | ||||||
| Operating Income | $ | 664 | $ | 399 | ||||
| Add Depreciation and amortization expense | 1,020 | 1,128 | ||||||
| Segment EBITDA | $ | 1,684 | $ | 1,527 | ||||
| Year over year change % | 10.3 | % | ||||||
| Total operating revenues | $ | 7,286 | $ | 7,376 | ||||
| Operating Income Margin | 9.1 | % | 5.4 | % | ||||
| Segment EBITDA Margin | 23.1 | % | 20.7 | % | ||||
Media contacts:
Katie Magnotta
201-602-9235
katie.magnotta@verizon.com
Jamie Serino
201-401-5460
jamie.serino@verizon.com
FAQ
What was Verizon's (VZ) wireless service revenue growth in Q1 2025?
How many broadband subscribers did Verizon (VZ) add in Q1 2025?
What was Verizon's (VZ) earnings per share in Q1 2025?
How much free cash flow did Verizon (VZ) generate in Q1 2025?
What is Verizon's (VZ) total unsecured debt as of Q1 2025?
