01—Abstract
Summary
Summary of the 10-K filed February 12, 2025. Cited figures are marked; the original filing is the authoritative source.
Verizon Communications Inc. reported solid financial performance for the fiscal year ending December 31, 2024, demonstrating resilience and strategic execution across its key business segments.
The Consumer segment continued to be the primary revenue driver, showing growth fueled by its expansive wireless network and increasing adoption of fixed wireless access (FWA) services. The Business segment, while facing some headwinds in legacy wireline services, showed growth in areas like Business Markets and Other, highlighting efforts to diversify its enterprise offerings. The company's strategic focus on network evolution, particularly the ongoing deployment and monetization of its 5G capabilities, remains a core pillar of its future growth strategy.
Financially, Verizon managed its debt effectively, with a notable reduction in total debt year-over-year. Capital expenditures remained robust, primarily directed towards network enhancements and spectrum deployment, underscoring a commitment to maintaining its competitive network advantage.
The company also continued its shareholder return programs, including dividend payments. Despite ongoing competitive pressures and macroeconomic factors, Verizon's diversified service portfolio and substantial network infrastructure position it to navigate the evolving telecommunications landscape.
02—Key points
Key Highlights
- Verizon Consumer Group remains the largest segment, generating $102.9 billion in revenue, a 1.3% increase year-over-year, driven by service revenue growth.
- Verizon Business Group's total operating revenues decreased by 2.0% to $29.5 billion, impacted by declines in Enterprise and Public Sector, though Business Markets and Other saw a 3.0% increase.
- Consolidated operating revenues saw a modest increase of 0.6% to $134.8 billion, reflecting growth in the Consumer segment offsetting a decline in the Business segment.
- Capital expenditures for 2024 were $17.1 billion, a decrease from the prior year, primarily due to the completion of the C-Band deployment program.
- Free cash flow increased by 6.0% to $19.8 billion, driven by reduced capital expenditures.
- The company paid $11.2 billion in dividends during 2024, continuing its commitment to shareholder returns.
- Verizon announced an agreement to acquire Frontier Communications Parent, Inc. in September 2024, a move expected to enhance its fiber broadband footprint.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-KFY2024filed February 12, 2025Financial Statements
FY2024 against FY2023
| Line item | FY2024FY2023 | Change |
|---|---|---|
| Revenue | $134.79B$133.97B | +0.6% |
| SG&A Expenses | $34.11B$32.74B | +4.2% |
| Operating Expenses | $106.10B$111.10B | −4.5% |
| Operating Income | $28.69B$22.88B | +25.4% |
| Net Income | $17.95B$12.10B | +48.4% |
| EPS (Basic) | $4.15$2.76 | +50.4% |
| EPS (Diluted) | $4.14$2.75 | +50.5% |
| Shares Outstanding (Basic) | 4.22B4.21B | +0.2% |
| Shares Outstanding (Diluted) | 4.22B4.21B | +0.2% |
05—Questions
Frequently Asked Questions
What was Verizon's overall financial performance in 2024?
Verizon reported a consolidated operating revenue increase of 0.6% to $134.8 billion for the year ended December 31, 2024. Net income attributable to Verizon was $17.5 billion. Free cash flow also saw a positive trend, increasing by 6.0% to $19.8 billion.
How did the Consumer and Business segments perform?
The Verizon Consumer Group generated $102.9 billion in revenue, a 1.3% increase, primarily driven by growth in service revenue. The Verizon Business Group experienced a 2.0% decrease in revenue to $29.5 billion, with declines in Enterprise and Public Sector services being partially offset by growth in the Business Markets and Other segment.
What are Verizon's key strategic priorities and investments?
Verizon's strategic priorities include enhancing its 5G network capabilities and expanding its fiber-based broadband services. The company invested $17.1 billion in capital expenditures in 2024, largely focused on network deployment and modernization. A significant strategic move announced is the pending acquisition of Frontier Communications, which is intended to bolster its fiber broadband offerings.
How is Verizon managing its debt and shareholder returns?
Verizon has reduced its total debt to $144.0 billion as of December 31, 2024. The company continues to prioritize shareholder returns, paying $11.2 billion in dividends in 2024. It also increased its quarterly dividend by 1.9% during the year, marking the eighteenth consecutive year of dividend increases.
06—Continue