01—Abstract
Summary
Summary of the 10-Q filed October 29, 2025. Cited figures are marked; the original filing is the authoritative source.
Verizon Communications Inc. reported solid financial results for the nine months ended September 30, 2025, with total operating revenues increasing by 2.7% to $101.81 billiona.
This growth was primarily driven by a 4.0% increase in the Consumer segment's revenue, reaching $78.37 billionb, supported by higher wireless service and equipment revenues. The Business segment experienced a slight revenue decline of 1.5% to $21.70 billion, impacted by a decrease in Enterprise and Public Sector and Wholesale revenues.
Net income attributable to Verizon saw a significant increase of 18.6% year-over-year to $14.83 billionc, translating to diluted earnings per share of $3.51, up from $2.96 in the prior year. The company maintained strong operating cash flow generation, with $28.02 billion for the nine-month period, and free cash flow also saw a healthy increase to $15.76 billion, reflecting effective cost management and operational execution.
02—Key points
Key Highlights
- Total operating revenues increased by 2.7% to $101.81 billion for the nine months ended September 30, 2025.
- Consumer segment revenue grew by 4.0% to $78.37 billion, primarily driven by wireless service and equipment sales.
- Net income attributable to Verizon increased by 18.6% to $14.83 billion, with diluted EPS rising to $3.51.
- Operating cash flow remained robust at $28.02 billion for the nine-month period.
- Free cash flow increased to $15.76 billion for the nine months ended September 30, 2025.
- The company is actively pursuing strategic acquisitions, including agreements to acquire Frontier Communications and Starry Group Holdings.
- Verizon reported strong performance in its FWA broadband and wireless service segments within the Consumer division.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ3 FY2025filed October 29, 2025Financial Statements
Q3 FY2025 against Q3 FY2024
| Line item | Q3 FY2025Q3 FY2024 | Change |
|---|---|---|
| Revenue | $33.82B$33.33B | +1.5% |
| SG&A Expenses | $7.75B$9.71B | −20.1% |
| Operating Expenses | $25.72B$27.40B | −6.2% |
| Operating Income | $8.11B$5.93B | +36.8% |
| Net Income | $4.95B$3.31B | +49.7% |
| EPS (Basic) | $1.17$0.78 | +50.0% |
| EPS (Diluted) | $1.17$0.78 | +50.0% |
| Shares Outstanding (Basic) | 4.23B4.22B | +0.2% |
| Shares Outstanding (Diluted) | 4.23B4.22B | +0.2% |
05—Questions
Frequently Asked Questions
What was Verizon's overall revenue performance for the nine months ended September 30, 2025?
Verizon reported total operating revenues of $101.81 billion for the nine months ended September 30, 2025, representing a 2.7% increase compared to the same period in 2024. This growth was primarily driven by strong performance in the Consumer segment.
How did the Consumer and Business segments perform?
The Consumer segment showed significant strength with a 4.0% increase in operating revenues to $78.37 billion, largely due to higher wireless service and equipment revenues. The Business segment experienced a slight revenue decrease of 1.5% to $21.70 billion, impacted by lower revenues in Enterprise & Public Sector and Wholesale categories.
What is Verizon's profitability trend based on this filing?
Profitability has improved, with Net Income attributable to Verizon increasing by 18.6% to $14.83 billion for the nine months ended September 30, 2025. This resulted in a higher diluted Earnings Per Share (EPS) of $3.51, up from $2.96 in the prior year. Consolidated EBITDA and Adjusted EBITDA also showed year-over-year growth.
What is the company's cash flow situation?
Verizon continues to generate substantial cash from its operations, with $28.02 billion in net cash provided by operating activities for the nine months ended September 30, 2025. Free cash flow also increased to $15.76 billion for the same period, indicating strong liquidity and financial flexibility.
Are there any significant acquisitions or strategic initiatives mentioned?
Yes, Verizon has entered into agreements to acquire Frontier Communications Parent, Inc. and Starry Group Holdings, Inc. These acquisitions are part of Verizon's strategy to expand its broadband offerings and solidify its market position.
06—Continue