Verizon Communications (VZ) Revenue — Quarter Ended Mar 31, 2023
Revenue declined for the quarter compared to both the prior quarter and the same period last year. The decrease reflects a broad-based reduction in service and equipment revenues.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue declined for the quarter compared to both the prior quarter and the same period last year. The decrease reflects a broad-based reduction in service and equipment revenues.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$32.9B
Revenue reported for this quarter.
Quarter-over-quarter
-6.6%
Change from the immediately preceding quarter.
Year-over-year
-1.9%
Change from the comparable year-ago quarter.
Trailing four quarters
$136.2B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $33.8B | +0.1% |
| Sep 30, 2022 | $34.2B | +4.0% |
| Dec 31, 2022 | $35.3B | +3.5% |
| Mar 31, 2023 | $32.9B | -1.9% |
Revenue performance
Total operating revenues fell from the immediately preceding quarter, and were also lower than the same quarter one year earlier. The drop was driven by decreases in both service revenues and wireless equipment sales.
Quarterly comparison
Compared with the prior quarter, revenue declined steadily from a recent peak. The year-over-year comparison also showed a contraction, widening the gap from the prior year's level.
What to watch
Service revenue erosion and falling equipment sales may warrant monitoring for sustained demand trends.