Sector: Communication Services|Industry: Telecom Services|Market Cap: $177.14B|Employees: 105.4K
Verizon Communications Inc. is a leading global provider of communications, technology, information, and entertainment products and services. The company's core business model revolves around offering wireless and wireline services to consumers and businesses, generating revenue through subscriptions, equipment sales, and network access. Verizon holds a strong market position in the U.S. and has a significant geographic presence.
Total operating revenues increased by 1.5% YoY to $33.485 billion, primarily driven by a 2.2% increase in the Consumer segment. The Business segment experienced a 1.2% decrease in operating revenues, indicating a mixed performance across different business lines.
Net income increased from $4.722 billion to $4.983 billion YoY. This was driven by an increase in operating income from $7.521 billion to $7.978 billion, as well as a lower provision for income taxes.
Capital expenditures decreased from $4.4 billion to $4.1 billion YoY. This decrease suggests a potential shift in investment strategy or improved capital efficiency.