10-QPeriod: Q3 FY2025

VERIZON COMMUNICATIONS INC Quarterly Report for Q3 Ended Sep 30, 2025

Filed October 29, 2025For Securities:VZ

Summary

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 billion. This growth was primarily driven by a 4.0% increase in the Consumer segment's revenue, reaching $78.37 billion, 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 billion, 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.

Financial Highlights

46 data points
Beta

Revenue

$33.82B

Net Income

$4.95B

14.6% Net Margin

EPS (Diluted)

$1.17

Total Assets

$388.33B

Cash & Equivalents

$7.71B

Free Cash Flow

$11.27B

Financial Statements
Beta
Revenue$33.82B
SG&A Expenses$7.75B
Operating Expenses$25.72B
Operating Income$8.11B
Net Income$4.95B
EPS (Basic)$1.17
EPS (Diluted)$1.17
Shares Outstanding (Basic)4.23B
Shares Outstanding (Diluted)4.23B

Key Highlights

  • 1Total operating revenues increased by 2.7% to $101.81 billion for the nine months ended September 30, 2025.
  • 2Consumer segment revenue grew by 4.0% to $78.37 billion, primarily driven by wireless service and equipment sales.
  • 3Net income attributable to Verizon increased by 18.6% to $14.83 billion, with diluted EPS rising to $3.51.
  • 4Operating cash flow remained robust at $28.02 billion for the nine-month period.
  • 5Free cash flow increased to $15.76 billion for the nine months ended September 30, 2025.
  • 6The company is actively pursuing strategic acquisitions, including agreements to acquire Frontier Communications and Starry Group Holdings.
  • 7Verizon reported strong performance in its FWA broadband and wireless service segments within the Consumer division.

Frequently Asked Questions

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.

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.

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.

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.

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.