Verizon Communications (VZ) Revenue — Quarter Ended Jun 30, 2023
Revenue decreased in the reported quarter compared with both the prior quarter and the same quarter last year, with wireless equipment revenue declining while service revenue rose slightly.
Key takeaway
Quarter ended Jun 30, 2023 · FY2023 Q2
Revenue decreased in the reported quarter compared with both the prior quarter and the same quarter last year, with wireless equipment revenue declining while service revenue rose slightly.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$32.6B
Revenue reported for this quarter.
Quarter-over-quarter
-1.0%
Change from the immediately preceding quarter.
Year-over-year
-3.5%
Change from the comparable year-ago quarter.
Trailing four quarters
$135B
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 |
|---|---|---|
| Sep 30, 2022 | $34.2B | +4.0% |
| Dec 31, 2022 | $35.3B | +3.5% |
| Mar 31, 2023 | $32.9B | -1.9% |
| Jun 30, 2023 | $32.6B | -3.5% |
Revenue performance
Total operating revenue posted a sequential and year-over-year decline, driven by weaker equipment sales.
Quarterly comparison
Compared with the immediately preceding quarter, revenue showed a modest decline. The year-over-year decrease was more pronounced.
What to watch
Revenue growth in the two preceding quarters has reversed to declines in the two most recent consecutive quarters, a trend worth monitoring.