Verizon Communications (VZ) Revenue — Quarter Ended Mar 31, 2024
Revenue decreased sequentially but increased slightly year over year. The most recent quarter's revenue compares to a higher prior quarter and a modestly lower same quarter a year ago.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue decreased sequentially but increased slightly year over year. The most recent quarter's revenue compares to a higher prior quarter and a modestly lower same quarter a year ago.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$33B
Revenue reported for this quarter.
Quarter-over-quarter
-6.1%
Change from the immediately preceding quarter.
Year-over-year
+0.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$134B
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, 2023 | $32.6B | -3.5% |
| Sep 30, 2023 | $33.3B | -2.6% |
| Dec 31, 2023 | $35.1B | -0.3% |
| Mar 31, 2024 | $33B | +0.2% |
Revenue performance
Service and other revenues increased while wireless equipment revenues declined, leading to a slight overall year-over-year revenue rise. The total operating revenue was essentially flat compared to the prior year period.
Quarterly comparison
The reported revenue was lower than the immediately preceding quarter's level. Compared to the same quarter one year earlier, revenue was modestly higher.
What to watch
The decline in wireless equipment revenues warrants attention for future trends.