Topic: Verizon Communications (2024)

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    As the world becomes increasingly interconnected, Verizon stands at the forefront of the American telecommunications industry. As the largest telecommunications company in the U.S. by revenue, the U.S.-based telecommunication giant had 105 thousand employees as of 2023. Verizon is the world’s fourth-largest telecommunications company by market cap as of 2024. Additionally, Verizon has been ranked as the second-most valuable telecom brand worldwide.


    Verizon faces challenges amid stable revenues

    Verizon generated nearly 134 billion U.S. dollars in revenue in 2023, maintaining revenues north of 130 billion U.S. dollars since 2021. The company usually reports its highest revenues during the fourth quarter. The consumer segment accounts for more than three-quarters of the company’s total revenues. Despite the consistently high revenues, Verizon reported an unusually low net income of 12.1 billion U.S. dollars in 2023 compared to the previous years. According to the company’s reports, this is partially due to a mix of a goodwill impairment of 5.8 billion U.S. dollars for its business units and declining in wireline operations. Despite these challenges, Verizon continues to spend more on advertising its products, reaching 3.9 billion U.S. dollars in ad spending in 2023.

    Verizon is the U.S.’s leading telecoms company

    The U.S. telecoms market has been defined by intense competition between Verizon, , and T-Mobile US, especially in the mobile space. Verizon has long enjoyed the largest share of wireless connections in the U.S., accounting for over 37 percent in 2024. The firm has seen strong growth in connections in recent years, reporting over 144 million wireless retail connections in 2023, alongside 10.7 million fixed broadband connections. Verizon’s average revenue per account (ARPA) has also been steadily increasing since 2018.

    Overall, Verizon’s increasing subscriber numbers and rising ARPA underscore the company’s robust growth trajectory and signal its resilience amid shifting market dynamics and declining income.

    This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.

    Topic: Verizon Communications (2)

    Ahmed Sherif

    Research expert covering IT services and gaming hardware

    Published by Ahmed Sherif, Jun 14, 2024

    Key insights

    Revenue of Verizon 2023
    134bn USD

    Topic: Verizon Communications (3)

    Detailed statistics

    Revenue of Verizon 2007-2023

    Net income of Verizon 2023
    12.1bn USD

    Topic: Verizon Communications (4)

    Detailed statistics

    Net income of Verizon 2007-2023

    Ad spending of Verizon
    3.9bn USD

    Topic: Verizon Communications (5)

    Detailed statistics

    Advertising spending of Verizon 2009-2023

    Get more insights

    Editor’s Picks Current statistics on this topic

    TelecommunicationsNumber of wireless retail connections of Verizon 2007-2023

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    Overview

    7
    • Premium Statistic Telecom services: global spending forecast 2008-2024
    • Premium Statistic Mobile operator revenue in North America 2015-2030
    • Premium Statistic Mobile connections share in the U.S. by generation 2019-2030
    • Basic Statistic Smartphone users in the United States 2009-2040
    • Premium Statistic Wireless service average revenue per unit in the United States 1993-2021
    • Premium Statistic United States: number of fixed broadband subscriptions 2000-2022
    • Basic Statistic Leading telecommunications companies worldwide 2024, by market cap

    Overview

    • Premium Statistic Telecom services: global spending forecast 2008-2024

      Topic: Verizon Communications (9)

      Telecom services: global spending forecast 2008-2024

      Information technology (IT) spending on telecommunications services worldwide from 2008 to 2024 (in billion U.S. dollars)

    • Premium Statistic Mobile operator revenue in North America 2015-2030

      Topic: Verizon Communications (10)

      Mobile operator revenue in North America 2015-2030

      Mobile operator revenue in North America from 2015 to 2022 and forecast for 2030 (in billion U.S. dollars)

    • Premium Statistic Mobile connections share in the U.S. by generation 2019-2030

      Topic: Verizon Communications (11)

      Mobile connections share in the U.S. by generation 2019-2030

      Share of mobile connections in the United States from 2019 to 2030, by generation

    • Basic Statistic Smartphone users in the United States 2009-2040

      Topic: Verizon Communications (12)

      Smartphone users in the United States 2009-2040

      Number of smartphone users in the United States from 2009 to 2040 (in millions)

    • Premium Statistic Wireless service average revenue per unit in the United States 1993-2021

      Topic: Verizon Communications (13)

      Wireless service average revenue per unit in the United States 1993-2021

      Monthly ARPU from mobile wireless services in the United States from 1993 to 2021 (in U.S. dollars)

    • Premium Statistic United States: number of fixed broadband subscriptions 2000-2022

      Topic: Verizon Communications (14)

      United States: number of fixed broadband subscriptions 2000-2022

      Number of fixed broadband subscriptions in the United States from 2000 to 2022 (in millions)

    • Basic Statistic Leading telecommunications companies worldwide 2024, by market cap

      Topic: Verizon Communications (15)

      Leading telecommunications companies worldwide 2024, by market cap

      Leading telecommunications companies worldwide 2024, by market capitalization (in billion U.S. dollars)

    Financials

    7
    • Premium Statistic Revenue of Verizon 2007-2023
    • Premium Statistic Revenue of Verizon 2010-2024, by quarter
    • Premium Statistic Verizon Communications' operating income 2014-2022
    • Premium Statistic Net income of Verizon 2007-2023
    • Premium Statistic Advertising spending of Verizon 2009-2023
    • Premium Statistic Cash capital expenditure of Verizon 2016-2023
    • Basic Statistic Number of employees at Verizon 2007-2023

    Financials

    • Premium Statistic Revenue of Verizon 2007-2023

      Topic: Verizon Communications (16)

      Revenue of Verizon 2007-2023

      Revenue of Verizon from 2007 to 2023 (in billion U.S. dollars)

    • Premium Statistic Revenue of Verizon 2010-2024, by quarter

      Topic: Verizon Communications (17)

      Revenue of Verizon 2010-2024, by quarter

      Revenue of Verizon from 2010 to 2024, by quarter (in billion U.S. dollars)

    • Premium Statistic Verizon Communications' operating income 2014-2022

      Topic: Verizon Communications (18)

      Verizon Communications' operating income 2014-2022

      Operating income of Verizon from 2014 to 2022 (in billion U.S. dollars)

    • Premium Statistic Net income of Verizon 2007-2023

      Topic: Verizon Communications (19)

      Net income of Verizon 2007-2023

      Net income of Verizon from 2007 to 2023* (in billion U.S. dollars)

    • Premium Statistic Advertising spending of Verizon 2009-2023

      Topic: Verizon Communications (20)

      Advertising spending of Verizon 2009-2023

      Advertising spending of Verizon from 2009 to 2023 (in billion U.S. dollars)

    • Premium Statistic Cash capital expenditure of Verizon 2016-2023

      Topic: Verizon Communications (21)

      Cash capital expenditure of Verizon 2016-2023

      Cash capital expenditure of Verizon from 2016 to 2023 (in billion U.S. dollars)

    • Basic Statistic Number of employees at Verizon 2007-2023

      Topic: Verizon Communications (22)

      Number of employees at Verizon 2007-2023

      Number of employees at Verizon from 2007 to 2023

    Segments

    4
    • Premium Statistic Revenue of Verizon 2012-2023, by segment
    • Premium Statistic Distribution of Verizon's revenue 2018-2023, by segment
    • Premium Statistic Consumer revenue of Verizon 2012-2023, by segment
    • Premium Statistic Business revenue of Verizon 2018-2023, by type

    Segments

    • Premium Statistic Revenue of Verizon 2012-2023, by segment

      Topic: Verizon Communications (23)

      Revenue of Verizon 2012-2023, by segment

      Revenue of Verizon from 2012 to 2023, by segment* (in billion U.S. dollars)

    • Premium Statistic Distribution of Verizon's revenue 2018-2023, by segment

      Topic: Verizon Communications (24)

      Distribution of Verizon's revenue 2018-2023, by segment

      Distribution of Verizon's revenue from 2018 to 2023, by segment

    • Premium Statistic Consumer revenue of Verizon 2012-2023, by segment

      Topic: Verizon Communications (25)

      Consumer revenue of Verizon 2012-2023, by segment

      Consumer revenue of Verizon from 2012 to 2023, by segment (in billion U.S. dollars)

    • Premium Statistic Business revenue of Verizon 2018-2023, by type

      Topic: Verizon Communications (26)

      Business revenue of Verizon 2018-2023, by type

      Business revenue of Verizon from 2018 to 2023, by type (in billion U.S. dollars)

    Competitors

    6
    • Premium Statistic Telecom operators by brand value 2024
    • Premium Statistic Revenue of major telecom services companies in the United States 2008-2023
    • Premium Statistic Wireless network operator subscriber share in the U.S. 2011-2024, by quarter
    • Premium Statistic Mobile subscribers 4G network coverage in the United States by provider 2015-2022
    • Premium Statistic 5G and overall mobile download speed in the U.S. 2024, by provider
    • Premium Statistic Customer satisfaction of fiber internet service providers in the U.S. 2024

    Competitors

    • Premium Statistic Telecom operators by brand value 2024

      Topic: Verizon Communications (27)

      Telecom operators by brand value 2024

      Ranking of telecom operators by brand value in 2024 (in billion U.S. dollars)

    • Premium Statistic Revenue of major telecom services companies in the United States 2008-2023

      Topic: Verizon Communications (28)

      Revenue of major telecom services companies in the United States 2008-2023

      Revenue of selected major telecommunication service companies in the United States from 2008 to 2023 (in billion U.S. dollars)

    • Premium Statistic Wireless network operator subscriber share in the U.S. 2011-2024, by quarter

      Topic: Verizon Communications (29)

      Wireless network operator subscriber share in the U.S. 2011-2024, by quarter

      Wireless network operator subscriptions market share in the United States from 2011 to 2024, by quarter

    • Premium Statistic Mobile subscribers 4G network coverage in the United States by provider 2015-2022

      Topic: Verizon Communications (30)

      Mobile subscribers 4G network coverage in the United States by provider 2015-2022

      Proportion of time LTE subscribers in the United States have 4G coverage available to them from 2015 to 2022, by provider

    • Premium Statistic 5G and overall mobile download speed in the U.S. 2024, by provider

      Topic: Verizon Communications (31)

      5G and overall mobile download speed in the U.S. 2024, by provider

      Average 5G and overall download speed by provider in the United States in 2024 (in Mbps)

    • Premium Statistic Customer satisfaction of fiber internet service providers in the U.S. 2024

      Topic: Verizon Communications (32)

      Customer satisfaction of fiber internet service providers in the U.S. 2024

      Customer satisfaction index scores for fiber internet service providers in the United States in 2024

    Special focus: Wireless

    6
    • Premium Statistic Number of wireless retail connections of Verizon 2007-2023
    • Basic Statistic Net additions of wireless retail connections for Verizon 2012-2023
    • Premium Statistic Churn rate of Verizon's wireless connections 2008-2023, by type
    • Premium Statistic ARPA of Verizon's retail wireless postpaid connections 2012-2023
    • Premium Statistic Number of wireline connections of Verizon 2012-2023, by type
    • Premium Statistic Number of broadband internet connections of Verizon 2009-2023

    Special focus: Wireless

    • Premium Statistic Number of wireless retail connections of Verizon 2007-2023

      Topic: Verizon Communications (33)

      Number of wireless retail connections of Verizon 2007-2023

      Number of wireless retail connections of Verizon from 2007 to 2023 (in millions)

    • Basic Statistic Net additions of wireless retail connections for Verizon 2012-2023

      Topic: Verizon Communications (34)

      Net additions of wireless retail connections for Verizon 2012-2023

      Net additions of wireless retail connections for Verizon from 2012 to 2023 (in millions)

    • Premium Statistic Churn rate of Verizon's wireless connections 2008-2023, by type

      Topic: Verizon Communications (35)

      Churn rate of Verizon's wireless connections 2008-2023, by type

      Churn rate of Verizon's wireless retail connections from 2008 to 2023, by type*

    • Premium Statistic ARPA of Verizon's retail wireless postpaid connections 2012-2023

      Topic: Verizon Communications (36)

      ARPA of Verizon's retail wireless postpaid connections 2012-2023

      Wireless retail postpaid average revenue per account (ARPA) of Verizon from 2012 to 2023 (in U.S. dollars)

    • Premium Statistic Number of wireline connections of Verizon 2012-2023, by type

      Topic: Verizon Communications (37)

      Number of wireline connections of Verizon 2012-2023, by type

      Number of wireline connections of Verizon from 2012 to 2023, by type* (in millions)

    • Premium Statistic Number of broadband internet connections of Verizon 2009-2023

      Topic: Verizon Communications (38)

      Number of broadband internet connections of Verizon 2009-2023

      Number of broadband internet connections of Verizon from 2009 to 2023* (in millions)

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    Topic: Verizon Communications (45)

    Topic: Verizon Communications (46)

    Meredith Alda

    Sales Manager– Contact (United States)

    Email

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    +1 914 619-5895

    Mon - Fri, 9am - 6pm (EST)

    Topic: Verizon Communications (47)

    Yolanda Mega

    Operations Manager– Contact (Asia)

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    asia.support@statista.com

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    +65 6995 6959

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    Topic: Verizon Communications (48)

    Kisara Mizuno

    Senior Business Development Manager– Contact (Asia)

    Email

    asia.support@statista.com

    Mon - Fri, 10:00am - 6:00pm (JST)

    Topic: Verizon Communications (49)

    Lodovica Biagi

    Director of Operations– Contact (Europe)

    Email

    eu.support@statista.com

    Tel

    +44 (0)20 8189 7000

    Mon - Fri, 9:30am - 5pm (GMT)

    Topic: Verizon Communications (50)

    Carolina Dulin

    Group Director - LATAM– Contact (Latin America)

    Email

    latam@statista.com

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    +1 212 419-5774

    Mon - Fri, 9am - 6pm (EST)

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    Topic: Verizon Communications (2024)

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