10-QPeriod: Q2 FY2025

VERIZON COMMUNICATIONS INC Quarterly Report for Q2 Ended Jun 30, 2025

Filed July 25, 2025For Securities:VZ

Summary

Verizon Communications Inc. reported solid financial results for the period ending June 29, 2025. Total operating revenues increased by 5.2% to $34.5 billion for the quarter and 3.4% to $68.0 billion for the first six months of the year, driven primarily by strong performance in the Consumer segment. Net income attributable to Verizon also saw a notable increase, reaching $5.0 billion for the quarter and $9.9 billion for the six-month period. The company continues to invest heavily in its network infrastructure, particularly in 5G and fiber, with capital expenditures totaling $8.0 billion for the first half of the year. Management's focus remains on network enhancement, innovative service offerings, customer base growth, and delivering strong financial and operating results.

Financial Highlights

46 data points
Beta

Revenue

$34.50B

Net Income

$5.00B

14.5% Net Margin

EPS (Diluted)

$1.18

Total Assets

$383.29B

Cash & Equivalents

$3.44B

Free Cash Flow

$8.97B

Financial Statements
Beta
Revenue$34.50B
SG&A Expenses$7.81B
Operating Expenses$26.33B
Operating Income$8.17B
Net Income$5.00B
EPS (Basic)$1.18
EPS (Diluted)$1.18
Shares Outstanding (Basic)4.22B
Shares Outstanding (Diluted)4.23B

Key Highlights

  • 1Total operating revenues increased by 5.2% to $34.5 billion in Q2 2025 and 3.4% to $68.0 billion for the first six months.
  • 2Net income attributable to Verizon increased to $5.0 billion for the quarter and $9.9 billion for the six-month period.
  • 3Consumer segment revenue grew by 6.9% year-over-year in the quarter, driven by increases in service and wireless equipment revenue.
  • 4Business segment revenue saw a slight decrease of 0.3% in the quarter, impacted by declines in Enterprise and Public Sector, partially offset by growth in Business Markets and Other.
  • 5Capital expenditures for the first six months were $8.0 billion, reflecting ongoing investment in network infrastructure.
  • 6Free cash flow for the first six months increased by $306 million to $8.8 billion, demonstrating improved operational cash generation.
  • 7The company announced an agreement to acquire Frontier Communications Parent, Inc. for $1.0 billion, subject to regulatory approvals.

Frequently Asked Questions

Verizon's total operating revenues increased by 5.2% to $34.5 billion in the second quarter of 2025, compared to $32.8 billion in the same period of 2024. This growth was primarily driven by the Consumer segment.

Net income attributable to Verizon was $5.0 billion for the three months ended June 30, 2025, an increase from $4.6 billion in the same period of 2024.

The Consumer segment's revenue growth was primarily driven by an increase in Wireless service revenue, fueled by pricing actions, higher adoption of perks and premium MyPlan offerings, and a significant increase in the Fixed Wireless Access (FWA) subscriber base. Wireless equipment revenue also saw a substantial increase due to higher volumes sold and a shift towards higher-priced devices.

Verizon entered into an agreement to acquire Frontier Communications Parent, Inc. for $1.0 billion. The transaction has received approval from Frontier shareholders and regulators including the FCC and Department of Justice, but its consummation is still subject to certain remaining regulatory approvals and other customary closing conditions.