Verizon Communications (VZ) 10-K Summary — Year Ended Dec 31, 2023
Verizon reported a decline in revenue for the period compared to the previous period. The company continues to invest heavily in its 5G network and fiber infrastructure, while facing a shrinking market for traditional copper-based products.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Verizon reported a decline in revenue for the period compared to the previous period. The company continues to invest heavily in its 5G network and fiber infrastructure, while facing a shrinking market for traditional copper-based products.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$134B
Revenue reported for the fiscal year.
Operating income
$22.9B
Income from operations reported for the year.
Net income
$11.6B
Net income reported for the year.
Operating cash flow
$37.5B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $133.6B | n/a |
| Dec 31, 2022 | $136.8B | +2.4% |
| Dec 31, 2023 | $134B | -2.1% |
Business overview
Verizon is a communications company that provides wireless and wireline services. It is focusing on deploying its 5G network, including C-Band spectrum, and building fiber-based networks to replace declining copper-based services.
Financial performance
Revenue decreased relative to the prior period. Operating income and net income were reported at positive levels, and operating cash flow remained substantial.
Material risks
The company faces a shrinking market for traditional copper-based products, which it addresses by investing in fiber networks. The deployment of C-Band spectrum requires significant capital expenditure, and this capital intensity is a key risk.
Liquidity and capital
Capital is primarily allocated to building the next-generation 5G network and deploying C-Band spectrum, funded through general capital expenditure programs.
What to watch
Investors should monitor the company's revenue trend and the progress of its C-Band spectrum deployment in the next filing.