Verizon Communications Inc. (VZ) FY2023 Annual P&L / Income Statement

Verizon Communications Inc. (VZ) FY2023 Annual P&L / Income Statement

Income statement for 2023-01-01 through 2023-12-31. View: Product and service. Revenue uses this breakdown; costs and expenses retain the consolidated categories.

Operating Revenues

133,974,000,000 US dollars

Cost of revenue (calculated)

54,887,000,000 US dollars

Gross profit (calculated)

79,087,000,000 US dollars

Operating expenses (calculated)

56,210,000,000 US dollars

Operating Income

22,877,000,000 US dollars

Other income (expense), net (calculated)

negative 5,890,000,000 US dollars

Income Before Provision For Income Taxes

16,987,000,000 US dollars

Provision for income taxes

4,892,000,000 US dollars

Net Income

12,095,000,000 US dollars

Service revenues and other

109,652,000,000 US dollars

Wireless equipment

24,322,000,000 US dollars

Cost of services and wireless equipment

54,887,000,000 US dollars

Depreciation and amortization expense

17,624,000,000 US dollars

Verizon Business Group goodwill impairment

5,841,000,000 US dollars

Selling, general and administrative expense

32,745,000,000 US dollars

Chart connections

• Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income.
• Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income.
• Of which attributable to Verizon Communications Inc.: $11.61 B; to noncontrolling interests: $481.00 M.