Verizon Communications Inc. (VZ) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 34.44B | 36.38B | 33.82B | 34.5B | 33.48B | 35.68B | 33.33B | 32.8B | 32.98B | 35.13B | 33.34B | 32.6B | 32.91B | 35.25B | 34.24B | 33.79B | 33.55B | 34.07B | 32.91B | 33.76B |
| Revenue Growth % | 2.85% | 1.96% | 1.47% | 5.21% | 1.53% | 1.57% | -0.02% | 0.61% | 0.21% | -0.34% | -2.64% | -3.53% | -1.91% | 3.48% | 4.03% | 0.07% | 2.09% | -1.8% | 4.35% | 10.89% |
| Cost of Goods Sold | 13.67B | 7.1B | 17.96B | 18.52B | 17.63B | 20.02B | 17.7B | 16.95B | 17.32B | 19.7B | 17.87B | 17.12B | 17.82B | 19.98B | 18.93B | 18.74B | 18.59B | 19.05B | 17.49B | 18.27B |
| COGS % of Revenue | 39.7% | 19.51% | 53.11% | 53.67% | 52.66% | 56.11% | 53.1% | 51.7% | 52.51% | 56.07% | 53.6% | 52.53% | 54.15% | 56.68% | 55.27% | 55.46% | 55.39% | 55.91% | 53.13% | 54.13% |
| Gross Profit | 20.77B | 29.28B | 15.86B | 15.98B | 15.85B | 15.66B | 15.63B | 15.84B | 15.66B | 15.43B | 15.47B | 15.47B | 15.09B | 15.27B | 15.32B | 15.05B | 14.97B | 15.02B | 15.43B | 15.49B |
| Gross Margin % | 60.3% | 80.49% | 46.89% | 46.33% | 47.34% | 43.89% | 46.9% | 48.3% | 47.49% | 43.93% | 46.4% | 47.47% | 45.85% | 43.32% | 44.73% | 44.54% | 44.61% | 44.09% | 46.87% | 45.87% |
| Gross Profit Growth % | 31.01% | 86.98% | 1.44% | 0.9% | 1.2% | 1.48% | 1.06% | 2.38% | 3.8% | 1.05% | 0.99% | 2.82% | 0.82% | 1.67% | -0.71% | -2.85% | -1.34% | -4.17% | 2.72% | 6.7% |
| Operating Expenses | 12.53B | 24.28B | 7.75B | 7.81B | 7.87B | 8.24B | 7.79B | 8.02B | 8.04B | 8.99B | 7.88B | 8.02B | 7.51B | 8.05B | 7.42B | 7.5B | 7.17B | 7.41B | 7.12B | 7.32B |
| OpEx % of Revenue | 36.37% | 66.74% | 22.92% | 22.64% | 23.52% | 23.09% | 23.37% | 24.47% | 24.37% | 25.59% | 23.64% | 24.59% | 22.81% | 22.82% | 21.68% | 22.18% | 21.37% | 21.76% | 21.64% | 21.69% |
| Selling, General & Admin | 7.63B | 10.38B | 7.75B | 7.81B | 7.87B | 8.24B | 7.79B | 8.02B | 8.04B | 8.99B | 7.88B | 8.02B | 7.51B | 8.05B | 7.42B | 7.5B | 7.17B | 7.41B | 7.12B | 7.32B |
| SG&A % of Revenue | 22.16% | 28.53% | 22.92% | 22.64% | 23.52% | 23.09% | 23.37% | 24.47% | 24.37% | 25.59% | 23.64% | 24.59% | 22.81% | 22.82% | 21.68% | 22.18% | 21.37% | 21.76% | 21.64% | 21.69% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Income | 8.24B | 5B | 8.11B | 8.17B | 7.98B | 7.42B | 7.84B | 7.82B | 7.63B | 6.44B | 7.59B | 7.46B | 7.58B | 7.22B | 7.89B | 7.55B | 7.8B | 7.61B | 8.3B | 8.16B |
| Operating Margin % | 23.93% | 13.75% | 23.96% | 23.68% | 23.83% | 20.8% | 23.53% | 23.84% | 23.13% | 18.33% | 22.76% | 22.88% | 23.04% | 20.5% | 23.05% | 22.35% | 23.23% | 22.33% | 25.22% | 24.18% |
| Operating Income Growth % | 3.31% | -32.57% | 3.33% | 4.53% | 4.6% | 15.21% | 3.4% | 4.84% | 0.57% | -10.85% | -3.9% | -1.26% | -2.72% | -5.03% | -4.91% | -7.51% | -2.46% | 7.85% | 8.13% | 10.92% |
| EBITDA | 13.13B | 9.52B | 12.72B | 12.81B | 12.55B | 11.93B | 12.3B | 12.3B | 12.07B | 10.96B | 12.02B | 11.82B | 11.9B | 11.44B | 12.22B | 11.87B | 12.03B | 11.66B | 12.26B | 12.19B |
| EBITDA Margin % | 38.14% | 26.18% | 37.62% | 37.12% | 37.49% | 33.43% | 36.91% | 37.51% | 36.6% | 31.19% | 36.05% | 36.25% | 36.16% | 32.46% | 35.68% | 35.14% | 35.86% | 34.22% | 37.26% | 36.09% |
| EBITDA Growth % | 4.61% | -20.16% | 3.42% | 4.11% | 4% | 8.85% | 2.37% | 4.1% | 1.43% | -4.25% | -1.65% | -0.48% | -1.08% | -1.85% | -0.37% | -2.56% | -1.11% | 3.63% | 3.31% | 5.57% |
| D&A (Non-Cash Add-back) | 4.89B | 4.52B | 4.62B | 4.63B | 4.58B | 4.51B | 4.46B | 4.48B | 4.45B | 4.52B | 4.43B | 4.36B | 4.32B | 4.22B | 4.32B | 4.32B | 4.24B | 4.05B | 3.96B | 4.02B |
| EBIT | 8.72B | 4.82B | 8.19B | 8.25B | 8.11B | 8.21B | 5.97B | 7.73B | 7.71B | -219M | 7.63B | 7.4B | 7.71B | 9.92B | 7.46B | 7.64B | 6.87B | 6.88B | 9.18B | 8.67B |
| Net Interest Income | -1.79B | -1.62B | -1.6B | -1.58B | -1.57B | -1.57B | -1.57B | -1.62B | -1.56B | -1.51B | -1.33B | -1.19B | -1.13B | -1.02B | -905M | -764M | -776M | -728M | -790M | -833M |
| Interest Income | 147M | 143M | 68M | 55M | 63M | 78M | 97M | 83M | 78M | 89M | 98M | 92M | 75M | 83M | 32M | 21M | 10M | 11M | 11M | 11M |
| Interest Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Income/Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Pretax Income | 6.78B | 3.06B | 6.53B | 6.61B | 6.47B | 6.57B | 4.3B | 6.03B | 6.08B | -1.82B | 6.19B | 6.11B | 6.5B | 8.81B | 6.52B | 6.86B | 6.08B | 6.14B | 8.37B | 7.82B |
| Pretax Margin % | 19.7% | 8.42% | 19.3% | 19.15% | 19.33% | 18.41% | 12.91% | 18.4% | 18.42% | -5.17% | 18.57% | 18.75% | 19.75% | 25% | 19.04% | 20.29% | 18.13% | 18.04% | 25.44% | 23.17% |
| Income Tax | 1.64B | 615M | 1.47B | 1.49B | 1.49B | 1.45B | 891M | 1.33B | 1.35B | 756M | 1.31B | 1.35B | 1.48B | 2.11B | 1.5B | 1.54B | 1.37B | 1.41B | 1.82B | 1.88B |
| Effective Tax Rate % | 24.15% | 20.08% | 22.54% | 22.51% | 23.02% | 22.14% | 20.71% | 22.07% | 22.27% | -41.61% | 21.12% | 22.02% | 22.8% | 23.98% | 22.94% | 22.49% | 22.55% | 22.9% | 21.73% | 23.96% |
| Net Income | 5.04B | 2.34B | 4.95B | 5B | 4.88B | 5B | 3.31B | 4.59B | 4.6B | -2.71B | 4.76B | 4.65B | 4.91B | 6.58B | 4.9B | 5.2B | 4.58B | 4.61B | 6.41B | 5.8B |
| Net Margin % | 14.65% | 6.44% | 14.64% | 14.5% | 14.57% | 14.03% | 9.92% | 14% | 13.95% | -7.7% | 14.28% | 14.26% | 14.92% | 18.66% | 14.31% | 15.39% | 13.65% | 13.54% | 19.47% | 17.18% |
| Net Income Growth % | 3.4% | -53.21% | 49.73% | 8.93% | 6.02% | 285.03% | -30.58% | -1.18% | -6.25% | -141.13% | -2.82% | -10.6% | 7.18% | 42.58% | -23.52% | -10.36% | -12.68% | 0.54% | 47.05% | 23.4% |
| Net Income (Continuing) | 5.15B | 2.45B | 5.06B | 5.12B | 4.98B | 5.11B | 3.41B | 4.7B | 4.72B | -2.57B | 4.88B | 4.77B | 5.02B | 6.7B | 5.02B | 5.32B | 4.71B | 4.74B | 6.55B | 5.95B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 1.31B | 1.28B | 1.3B | 1.3B | 1.31B | 1.34B | 1.34B | 1.37B | 1.39B | 1.37B | 1.35B | 1.31B | 1.34B | 1.32B | 1.31B | 1.34B | 1.41B | 1.41B | 1.45B | 1.43B |
| EPS (Diluted) | 1.20 | 0.55 | 1.17 | 1.18 | 1.15 | 1.18 | 0.78 | 1.09 | 1.09 | -0.64 | 1.13 | 1.10 | 1.17 | 1.56 | 1.17 | 1.24 | 1.09 | 1.11 | 1.55 | 1.40 |
| EPS Growth % | 4.35% | -53.39% | 50% | 8.26% | 5.5% | 284.38% | -30.97% | -0.91% | -6.84% | -141.03% | -3.42% | -11.29% | 7.34% | 40.54% | -24.52% | -11.43% | -14.17% | 0% | 47.62% | 23.89% |
| EPS (Basic) | 1.20 | 0.55 | 1.17 | 1.18 | 1.16 | 1.19 | 0.78 | 1.09 | 1.09 | -0.64 | 1.13 | 1.10 | 1.17 | 1.56 | 1.17 | 1.24 | 1.09 | 1.11 | 1.55 | 1.40 |
| Diluted Shares Outstanding | 4.21B | 4.23B | 4.23B | 4.23B | 4.23B | 4.22B | 4.22B | 4.22B | 4.22B | 4.21B | 4.22B | 4.21B | 4.21B | 4.21B | 4.2B | 4.2B | 4.2B | 4.17B | 4.14B | 4.14B |
| Basic Shares Outstanding | 4.21B | 4.23B | 4.23B | 4.22B | 4.22B | 4.22B | 4.22B | 4.21B | 4.21B | 4.21B | 4.21B | 4.21B | 4.21B | 4.2B | 4.2B | 4.2B | 4.2B | 4.17B | 4.14B | 4.14B |
| Dividend Payout Ratio | 57.68% | 124.34% | 57.72% | 57.09% | 58.54% | 56.94% | 84.72% | 61.01% | 60.76% | - | 57.62% | 59.01% | 55.9% | 41.65% | 54.86% | 52.39% | 57.95% | 57.4% | 40.56% | 44.78% |