VERIZON COMMUNICATIONS INC

VZ 10-Q · Q2 2025
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VZ Q2 2025 request

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Income Statement

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Income Statement
Metric Q2 2025 Q2 2024 YoY
Revenue 34,504 32,796 +5.2%
Show Product Lines breakouts
Business Markets and Other · Business 3,339 3,199 +4.4%
Business Markets and Other · Operating Segments Excluding Intersegment Elimination 3,339 3,199 +4.4%
Enterprise and Public Sector · Business 3,435 3,545 -3.1%
Enterprise and Public Sector · Operating Segments Excluding Intersegment Elimination 3,435 3,545 -3.1%
Fios revenues 3,234 3,209 +0.8%
Fios revenues · Business 310 313 -1.0%
Fios revenues · Consumer 2,924 2,896 +1.0%
Product 6,255 4,998 +25.2%
Product And Service Other · Consumer 1,019 932 +9.3%
Product And Service Other · Operating Segments Excluding Intersegment Elimination 1,019 932 +9.3%
Product · Business 886 855 +3.6%
Product · Consumer 5,369 4,143 +29.6%
Product · Operating Segments Excluding Intersegment Elimination 5,369 4,143 +29.6%
Service revenues and other 28,249 27,798 +1.6%
Service revenues and other · Business 6.4 6.4 0.0%
Service · Consumer 20,186 19,797 +2.0%
Service · Operating Segments Excluding Intersegment Elimination 20,186 19,797 +2.0%
Wholesale · Business 494 547 -9.7%
Wholesale · Operating Segments Excluding Intersegment Elimination 494 547 -9.7%
Wireless service 20,948 20,506 +2.2%
Wireless service · Business 3,579 3,521 +1.6%
Wireless service · Consumer 17,369 16,985 +2.3%
Show Business Segments breakouts
Business · Intersegment Elimination 7 9 -22.2%
Business · Operating Segments 7,275 7,300 -0.3%
Consumer · Intersegment Elimination 74 55 +34.5%
Consumer · Operating Segments 26,648 24,927 +6.9%
Show Consolidation Items breakouts
Consolidation Eliminations -82 -64 -28.1%
Corporate and other 663 633 +4.7%
Intersegment Elimination 81 64 +26.6%
Operating Segments 33,923 32,227 +5.3%
Cost of Revenue (Q) — — —
Show Product Lines breakouts
Product 7,007 5,567 +25.9%
Service 6,878 6,904 -0.4%
Show Business Segments breakouts
Business · Operating Segments 1,201 1,135 +5.8%
Consumer · Operating Segments 5,806 4,432 +31.0%
Show Consolidation Items breakouts
Operating Segments 7,007 5,567 +25.9%
Selling, General & Administrative 7,812 8,024 -2.6%
Depreciation And Amortization 4,635 4,483 +3.4%
Show Business Segments breakouts
Business · Operating Segments 1,031 1,078 -4.4%
Consumer · Operating Segments 3,582 3,394 +5.5%
Show Consolidation Items breakouts
Operating Segments 4,613 4,472 +3.2%
Total Costs & Expenses 26,332 24,978 +5.4%
Show Business Segments breakouts
Business · Operating Segments 6,637 6,800 -2.4%
Consumer · Operating Segments 19,005 17,323 +9.7%
Show Consolidation Items breakouts
Operating Segments 25,642 24,123 +6.3%
Operating Income 8,172 7,818 +4.5%
Show Business Segments breakouts
Business · Operating Segments 638 500 +27.6%
Consumer · Operating Segments 7,643 7,604 +0.5%
Show Consolidation Items breakouts
Corporate and other -101 -277 +63.5%
Operating Segments 8,281 8,104 +2.2%
Income Loss From Equity Method Investments -3 -14 +78.6%
Other Non-Operating Income (Expense) 79 -72 +209.7%
Interest Expense -1,639 -1,698 +3.5%
Income Before Taxes 6,609 6,034 +9.5%
Income Tax Expense (Benefit) -1,488 -1,332 -11.7%
Net Income 5,121 4,702 +8.9%
Net Income Loss Attributable To Noncontrolling Interest 118 109 +8.3%
Net Income 5,003 4,593 +8.9%
Show Equity Components breakouts
Retained Earnings 5,003 4,593 +8.9%
EPS (Basic) 1.18 1.09 +8.3%
Wtd Avg Shares (Basic) 4,224 4,215 +0.2%
EPS (Diluted) 1.18 1.09 +8.3%
Wtd Avg Shares (Diluted) 4,228 4,221 +0.2%
Comprehensive Income 5,017 4,505 +11.4%
Other Comprehensive Income 14 -88 +115.9%

Balance Sheet

Balance Sheet
Metric Q2 2025 Q2 2024 YoY
Current Assets
Cash & Cash Equivalents 3,435 2,432 +41.2%
Accounts And Financing Receivable Before Allowance For Credit Loss Current 27,440 26,702 +2.8%
Accounts And Financing Receivable Allowance For Credit Loss Current 1,165 1,095 +6.4%
Accounts Notes And Loans Receivable Net Current 26,275 25,607 +2.6%
Inventory 2,137 1,841 +16.1%
Prepaid Expenses & Other Current Assets 6,999 8,176 -14.4%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 323 1,402 -77.0%
Total Current Assets 38,846 38,056 +2.1%
Accounts Receivable (Q) — — —
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 18,660 17,199 +8.5%
Show Financing Receivable Portfolio breakouts
Other receivables 5,226 5,752 -9.1%
Wireless Service Plan Receivables 6,117 5,706 +7.2%
Non-Current Assets
Property, Plant & Equipment 108,069 107,890 +0.2%
Goodwill 22,841 22,842 -0.0%
Show Business Segments breakouts
Business · Operating Segments 1,664 1,665 -0.1%
Consumer · Operating Segments 21,177 21,177 0.0%
Intangible Assets 10,635 10,680 -0.4%
Show Finite Lived Intangible Assets By Major Class breakouts
Customer Lists 1,369 1,856 -26.2%
Non-Network Internal-Use Software 8,271 7,617 +8.6%
Other Intangible Assets 995 1,207 -17.6%
Operating Lease Right-of-Use Assets 23,949 24,064 -0.5%
Other Non-Current Assets 21,318 18,415 +15.8%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 12,416 11,470 +8.2%
Total Assets 383,285 379,146 +1.1%
Other Assets
Property Plant And Equipment Gross 332,529 324,978 +2.3%
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment 224,460 217,088 +3.4%
Investments In Affiliates Subsidiaries Associates And Joint Ventures 807 908 -11.1%
Indefinite Lived License Agreements 156,820 156,291 +0.3%
Current Liabilities
Current Portion of Long-Term Debt 22,067 23,255 -5.1%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 16,487 16,103 +2.4%
Accounts Payable And Accrued Liabilities Current 19,880 19,727 +0.8%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 35 31 +12.9%
Operating Lease Liability Current 4,731 4,247 +11.4%
Other Liabilities Current 14,274 13,577 +5.1%
Total Current Liabilities 60,952 60,806 +0.2%
Deferred Revenue (Current) 7,534 7,163 +5.2%
Non-Current Liabilities
Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent 11,170 12,812 -12.8%
Deferred Tax Liabilities 46,568 46,082 +1.1%
Operating Lease Liabilities 19,164 19,456 -1.5%
Other Non-Current Liabilities 17,141 16,429 +4.3%
Liabilities Noncurrent 217,972 220,801 -1.3%
Long-Term Debt (Q) — — —
Show Debt Instrument breakouts
2021 ABS Financing Facility · Secured Debt 7.4 — —
2022 ABS Financing Facility · Secured Debt 4.8 4 +20.0%
Contract With Customer Liability Noncurrent 2,248 1,881 +19.5%
Other Liabilities
Long Term Debt And Capital Lease Obligations 123,929 126,022 -1.7%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 10,114 7,912 +27.8%
Stockholders' Equity
Common Stock Value Outstanding 429 429 0.0%
Additional Paid-In Capital 13,412 13,539 -0.9%
Retained Earnings 93,275 86,504 +7.8%
Accumulated Other Comprehensive Income -1,475 -1,287 -14.6%
Treasury Stock Common Value -3,292 -3,590 +8.3%
Deferred Compensation Employee Stock Ownership Plans And Other 714 577 +23.7%
Minority Interest 1,298 1,367 -5.0%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 104,361 97,539 +7.0%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment 203 211 -3.8%
Accumulated Gain Loss Net Cash Flow Hedge Parent -981 -1,008 +2.7%
Accumulated Net Unrealized Investment Gain Loss -4 -5 +20.0%
Accumulated Other Comprehensive Income -1,475 -1,287 -14.6%
Accumulated Translation Adjustment -590 -686 +14.0%
Additional Paid In Capital 13,412 13,539 -0.9%
Aoci Derivative Qualifying As Hedge Excluded Component Parent -103 201 -151.2%
Common Stock 429 429 0.0%
Deferred Compensation Share Based Payments 714 577 +23.7%
Noncontrolling Interest 1,298 1,367 -5.0%
Retained Earnings 93,275 86,504 +7.8%
Treasury Stock Common -3,292 -3,590 +8.3%
Total Liabilities & Equity 383,285 379,146 +1.1%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q2 2025 YTD Q2 2024 YoY
Operating Activities
Employee Benefits And Share Based Compensation Noncash 331 354 -6.5%
Deferred Income Taxes 95 282 -66.3%
Provision For Doubtful Accounts 1,135 1,119 +1.4%
Income Loss From Equity Method Investments Net Of Dividends Or Distributions 29 33 -12.1%
Increase Decrease In Operating Capital -3,318 -3,572 +7.1%
Other Operating Activities Cash Flow Statement -831 1 -83200.0%
Net Cash from Operations 16,757 16,569 +1.1%
Investing Activities
Payments To Acquire Other Productive Assets -7,953 -8,071 +1.5%
Payments To Acquire Intangible Assets -234 -613 +61.8%
Other Investing Activities 997 -426 +334.0%
Net Cash from Investing -7,190 -9,110 +21.1%
Financing Activities
Proceeds From Issuance Of Longterm Debt Excluding Assetbacked Debt 1,676 3,122 -46.3%
Proceeds From Issuance Of Secured Debt 4,962 5,828 -14.9%
Show Debt Instrument breakouts
Retained Notes 129 — —
Repayments Of Long Term Borrowings And Finance Lease Obligations -5,530 -5,719 +3.3%
Repayments Of Secured Debt -4,512 -4,008 -12.6%
Payments Of Dividends -5,712 -5,598 -2.0%
Proceeds From Payments For Other Financing Activities -1,155 -687 -68.1%
Net Cash from Financing -10,271 -7,062 -45.4%
Debt Repayments 4,136 2,824 +46.5%
Show Debt Instrument breakouts
Asset Backed Notes · Secured Debt 2.3 2.2 +4.5%
Debt Repayments (Q) — — —
Show Debt Instrument breakouts
Open market repurchases of various Verizon notes 328 — —
Verizon 0.875% Notes Due 2025 840 — —
Verizon 2.625% Notes Due 2026 990 — —
Supplemental
Unpaid Capital Expenditures (YTD) — — —
Show Long-Term Debt Type breakouts
Alternative Financing Facility · Network Equipment 1.2 941 -99.9%
Other Cash Flow
Net Change in Cash -704 397 -277.3%
Show Statement Of Financial Position Location Activity Capitalization breakouts
Cash And Cash Equivalents -759 — —
Other Noncurrent Assets 9 — —
Prepaid Expenses And Other Current Assets -1 — —
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 3,931 3,894 +1.0%

Values in millions USD. Source: SEC EDGAR 10-Q filing.

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