Verizon income statement
In fiscal 2025, Verizon reported revenue of $138.19bn, up 2.5% on the year before, operating income of $29.26bn (a 21.2% margin) and net income of $17.17bn, or $4.06 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 107.8 | 106.6 | 110.9 | 115.8 | 120.6 | 127.1 | 131.6 | 126.0 | 126.0 | 130.9 | 131.9 | 128.3 | 133.6 | 136.8 | 134.0 | 134.8 | 138.2 | 139.4 |
| Cost of revenue | 44.6 | 44.1 | 45.9 | 46.3 | 44.9 | 49.9 | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | 63.2 | 62.4 | 65.0 | 69.6 | 75.7 | 77.1 | — | — | — | — | — | — | — | — | — | — | — | — |
| Selling, general and administrative | 30.7 | 31.4 | 35.6 | 40.0 | 27.1 | 41.0 | 30.0 | 28.1 | 28.6 | 31.1 | 29.9 | 31.6 | 28.7 | 30.1 | 32.7 | 34.1 | 33.8 | 34.5 |
| Operating income | 16.0 | 14.6 | 12.9 | 13.2 | 32.0 | 19.6 | 33.1 | 29.2 | 27.4 | 22.3 | 30.4 | 28.8 | 32.4 | 30.5 | 22.9 | 28.7 | 29.3 | 29.1 |
| Interest expense | 3.1 | 2.5 | 2.8 | 2.6 | 2.7 | 4.9 | 4.9 | 4.4 | 4.7 | 4.8 | 4.7 | 4.2 | 3.5 | 3.6 | 5.5 | 6.6 | 6.7 | 7.6 |
| Provision for credit losses | — | — | — | — | — | — | −0.7 | 0.7 | 0.7 | 0.5 | 0.9 | — | — | — | — | — | — | — |
| Income before tax | 13.5 | 12.7 | 10.5 | 9.9 | 29.3 | 15.3 | 28.2 | 21.0 | 20.6 | 19.6 | 22.7 | 24.0 | 29.4 | 28.3 | 17.0 | 23.0 | 22.7 | 21.9 |
| Income tax | 1.9 | 2.5 | 0.3 | −0.7 | 5.7 | 3.3 | 9.9 | 7.4 | −10.0 | 3.6 | 2.9 | 5.6 | 6.8 | 6.5 | 4.9 | 5.0 | 5.1 | 5.1 |
| Net income | 4.9 | 2.5 | 2.4 | 0.9 | 11.5 | 9.6 | 17.9 | 13.1 | 30.1 | 15.5 | 19.3 | 17.8 | 22.1 | 21.3 | 11.6 | 17.5 | 17.2 | 16.4 |
| Diluted EPS | $1.72 | $0.90 | $0.85 | $0.31 | $4.00 | $2.42 | $4.37 | $3.21 | $7.36 | $3.76 | $4.65 | $4.30 | $5.32 | $5.06 | $2.75 | $4.14 | $4.06 | $3.91 |
| Diluted shares (average) | 2,841m | 2,833m | 2,839m | 2,862m | 2,874m | 3,981m | 4,093m | 4,086m | 4,089m | 4,132m | 4,140m | 4,142m | 4,150m | 4,204m | 4,215m | 4,223m | 4,231m | 4,195m |
| EBITDA | 32.5 | 31.1 | 29.4 | 29.6 | 48.6 | 36.1 | 49.1 | 45.2 | 44.4 | 39.7 | 47.1 | 45.5 | 48.7 | 47.6 | 40.5 | 46.6 | 47.6 | 48.6 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 35.7 | 33.5 | 34.5 | 33.8 | 36.4 | 34.4 | 34.3 | 34.3 |
| Selling, general and administrative | 8.2 | 7.9 | 7.8 | 7.8 | 10.4 | 7.6 | 9.0 | 7.5 |
| Operating income | 7.4 | 8.0 | 8.2 | 8.1 | 5.0 | 8.2 | 7.2 | 8.7 |
| Interest expense | 1.6 | 1.6 | 1.6 | 1.7 | 1.8 | 1.9 | 2.0 | 2.0 |
| Income before tax | 6.6 | 6.5 | 6.6 | 6.5 | 3.1 | 6.8 | 5.3 | 6.8 |
| Income tax | 1.5 | 1.5 | 1.5 | 1.5 | 0.6 | 1.6 | 1.3 | 1.5 |
| Net income | 5.0 | 4.9 | 5.0 | 5.0 | 2.3 | 5.0 | 3.8 | 5.2 |
| Diluted EPS | $1.18 | $1.15 | $1.18 | $1.17 | $0.55 | $1.20 | $0.92 | $1.25 |
| EBITDA | 11.9 | 12.6 | 12.8 | 12.7 | 9.5 | 13.1 | 12.2 | 13.7 |
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