greeksoup/ stock research
Stock research / United States / VZ / Q4 FY2025

Verizon Communications (VZ) Q4 FY2025 earnings: revenue $36.4 billion, up 2.0% on the year

Verizon Communications Inc. (VZ) reported revenue of $36.4 billion for Q4 FY2025, the quarter ended 31 December 2025, up 2.0% on the same quarter a year earlier. Net income was $2.3 billion, down 53.2% on the year, and diluted earnings per share $0.55. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2026.

Revenue
$36.4 billion
+2.0% on the year · +7.6% on the quarter
Q1 FY2024Q4 FY2025
Operating margin
13.8%
20.8% a year earlier
Q1 FY2024Q4 FY2025
Net income
$2.3 billion
-53.2% on the year · -52.7% on the quarter
Q1 FY2024Q4 FY2025
Diluted EPS
$0.55
-53.4% on the year · -53.0% on the quarter
Q1 FY2024Q4 FY2025

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 10 new.

  • Highest quarterly net additions since 2019: Mobility and broadband net additions exceeded 1 million in fourth-quarter 2025, the highest reported quarterly total since 2019.
  • Postpaid phone net adds reached 616,000: Postpaid phone net additions were 616,000 in the fourth quarter, up from 504,000 a year earlier. The release called it the best quarter of this measure since 2019.
  • Severance and rationalization charges booked: Severance charges of $1,715 million and asset and business rationalization charges of $583 million were added back in the reconciliation of adjusted EBITDA for the quarter.
Read the earnings call summary

Income statement (profit and loss)

$ millionQ4 FY2025Q3 FY2025Q4 FY2024On the quarterOn the yearLast 8 quarters
Revenue36,38133,82135,681+7.6%+2.0%
Cost of revenue16,47813,34615,514+23.5%+6.2%
Gross profit19,90320,47520,167-2.8%-1.3%
Gross margin54.7%60.5%56.5%
Selling, general and administrative10,3807,7528,240+33.9%+26.0%
Operating income5,0048,1057,421-38.3%-32.6%
Operating margin13.8%24.0%20.8%
Interest expense1,7591,6641,644+5.7%+7.0%
Pre-tax income3,0636,5276,568-53.1%-53.4%
Income tax6151,4711,454-58.2%-57.7%
Effective tax rate20.1%22.5%22.1%
Net income2,3424,9505,005-52.7%-53.2%
Net margin6.4%14.6%14.0%
Diluted EPS$0.55$1.17$1.18-53.0%-53.4%
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionQ4 FY2025Q3 FY2025Q4 FY2024On the quarterOn the yearLast 8 quarters
Operating cash flow9,11411,26610,432-19.1%-12.6%
Cash from investing-4,980-4,490-5,561
Cash from financing7,209-2,551-5,623
Depreciation and amortisation4,5194,6184,506-2.1%+0.3%
Buybacksn/a0.0n/a
Dividends paid2,9122,8572,850+1.9%+2.2%
Dividend per sharen/a$0.69n/a
Diluted shares, weighted4,231m4,233m4,223m-0.0%+0.2%
Shares outstanding at period end4,218m4,216m4,210m+0.0%+0.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ4 FY2025Q3 FY2025Q4 FY2024On the quarterOn the yearLast 8 quarters
Shareholders' equity105,741106,345100,575-0.6%+5.1%
Debt158,150146,775144,014+7.7%+9.8%
Operating lease liabilities18,95119,17619,928-1.2%-4.9%
Finance lease liabilities1,568n/a1,455+7.8%
Other liabilities119,848116,035118,739+3.3%+0.9%
Total liabilities and equity404,258388,331384,711+4.1%+5.1%
Fixed assets109,467108,467108,522+0.9%+0.9%
Goodwill22,84122,84122,8410.0%0.0%
Intangible assets10,45810,51611,129-0.6%-6.0%
Cash and equivalents19,0487,7064,194+147.2%+354.2%
Inventory2,4412,7002,247-9.6%+8.6%
Other assets240,003236,101235,778+1.7%+1.8%
Total assets404,258388,331384,711+4.1%+5.1%

Questions

What was Verizon Communications' revenue in Q4 FY2025?

Verizon Communications (VZ) reported revenue of $36.4 billion for Q4 FY2025, the quarter ended 31 December 2025, up 2.0% on the same quarter a year earlier.

How much did Verizon Communications earn in Q4 FY2025?

Net income for Q4 FY2025 was $2.3 billion, down 53.2% on the year, and diluted earnings per share $0.55.

When did Verizon Communications report Q4 FY2025 results?

Verizon Communications filed its 10-K for the year that ended with the quarter on 17 February 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue34,06733,55433,78934,24135,25132,91232,59633,33635,13032,98132,79633,33035,68133,48534,50433,82136,38134,44034,25334,313
Cost of revenue14,99614,35014,42014,60115,76213,50412,76413,43715,18212,87212,47113,24015,51413,05613,88513,34616,47813,67313,08413,088
Gross profit19,07119,20419,36919,64019,48919,40819,83219,89919,94820,10920,32520,09020,16720,42920,61920,47519,90320,76721,16921,225
Gross margin56%57%57%57%55%59%61%60%57%61%62%60%57%61%60%61%55%60%62%62%
SG&A7,4127,1727,4967,4228,0467,5068,2537,9958,9918,1438,0249,7068,2407,8747,8127,75210,3807,6338,9827,480
Operating income7,6087,7967,5527,8947,2257,5847,2207,4736007,5217,8185,9267,4217,9788,1728,1055,0048,2427,1798,650
Operating margin22%23%22%23%20%23%22%22%2%23%24%18%21%24%24%24%14%24%21%25%
Interest expense7397867859371,1051,2071,2851,4331,5991,6351,6981,6721,6441,6321,6391,6641,7591,9401,9851,950
Pre-tax income6,1446,0836,8576,5208,8116,5006,1126,192-1,8176,0756,0344,3026,5686,4736,6096,5273,0636,7845,2746,817
Tax rate23%23%22%23%24%23%22%21%n/a22%22%21%22%23%23%23%20%24%25%22%
Net income4,6134,5805,1994,9006,5774,9094,6484,762-2,7054,6024,5933,3065,0054,8795,0034,9502,3425,0453,8355,198
Net margin14%14%15%14%19%15%14%14%-8%14%14%10%14%15%14%15%6%15%11%15%
Diluted EPS$1.10$1.09$1.24$1.17$1.56$1.17$1.10$1.13-$0.64$1.09$1.09$0.78$1.18$1.15$1.18$1.17$0.55$1.20$0.92$1.25
Operating cash flow8,3776,82110,84410,5348,9428,2899,73110,7788,6777,0849,4859,91110,4327,7828,97511,2669,1147,98410,43511,517
Buybacksn/an/an/an/an/an/an/an/an/an/an/an/an/a0.00.00.0n/a2,5001,000500
Dividends paid2,6482,6542,7242,6882,7392,7442,7432,7442,7942,7962,8022,8012,8502,8562,8562,8572,9122,9102,9542,940
Shares outstanding4,198m4,200m4,200m4,200m4,200m4,204m4,204m4,204m4,204m4,209m4,210m4,210m4,210m4,216m4,216m4,216m4,218m4,176m4,155m4,145m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2025, filed 17 February 2026: the filing.