# Verizon Communications Inc. (VZ) FY2024 Annual P&L / Income Statement - Company: Verizon Communications Inc. (VZ) - Period: 2024-01-01 to 2024-12-31 - Filing: FY2024 10-K, filed 2025-02-12, accession number 0000732712-25-000006 - Page: https://plicit.ai/financials/vz/fy2024-annual-income-statement - Chart image: https://plicit.ai/charts/vz-fy2024-annual-income-statement-sankey.png ## Chart details: Revenue by Product and Service Income statement for 2024-01-01 through 2024-12-31. View: Product and service. Revenue uses this breakdown; costs and expenses retain the consolidated categories. - **Operating Revenues**: 134,788,000,000 US dollars - **Cost of revenue (calculated)**: 54,097,000,000 US dollars - **Gross profit (calculated)**: 80,691,000,000 US dollars - **Operating expenses (calculated)**: 52,005,000,000 US dollars - **Operating Income**: 28,686,000,000 US dollars - **Other income (expense), net (calculated)**: negative 5,707,000,000 US dollars - **Income Before Provision For Income Taxes**: 22,979,000,000 US dollars - **Provision for income taxes**: 5,030,000,000 US dollars - **Net Income**: 17,949,000,000 US dollars - **Service revenues and other**: 111,571,000,000 US dollars - **Wireless equipment**: 23,217,000,000 US dollars - **Cost of services and wireless equipment**: 54,097,000,000 US dollars - **Depreciation and amortization expense**: 17,892,000,000 US dollars - **Verizon Business Group goodwill impairment**: 0 US dollars - **Selling, general and administrative expense**: 34,113,000,000 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.: $17.51 B; to noncontrolling interests: $443.00 M. ## Chart details: Revenue by Business Segment - Page: https://plicit.ai/financials/vz/fy2024-annual-income-statement/revenue-by-business-segment - Chart image: https://plicit.ai/charts/vz-fy2024-annual-revenue-by-business-segment-sankey.png Income statement for 2024-01-01 through 2024-12-31. View: Business segment. Revenue uses this breakdown; costs and expenses retain the consolidated categories. - **Operating Revenues**: 134,788,000,000 US dollars - **Cost of revenue (calculated)**: 54,097,000,000 US dollars - **Gross profit (calculated)**: 80,691,000,000 US dollars - **Operating expenses (calculated)**: 52,005,000,000 US dollars - **Operating Income**: 28,686,000,000 US dollars - **Other income (expense), net (calculated)**: negative 5,707,000,000 US dollars - **Income Before Provision For Income Taxes**: 22,979,000,000 US dollars - **Provision for income taxes**: 5,030,000,000 US dollars - **Net Income**: 17,949,000,000 US dollars - **Consumer**: 102,904,000,000 US dollars - **Business**: 29,531,000,000 US dollars - **Cost of services and wireless equipment**: 54,097,000,000 US dollars - **Depreciation and amortization expense**: 17,892,000,000 US dollars - **Verizon Business Group goodwill impairment**: 0 US dollars - **Selling, general and administrative expense**: 34,113,000,000 US dollars - **Revenue before reconciliation (calculated)**: 132,435,000,000 US dollars. Sum of the reported revenue categories before the separately reported reconciliation. - **Eliminations**: negative 256,000,000 US dollars. Reported reconciliation to consolidated revenue. - **Corporate and other**: 2,609,000,000 US dollars. Reported reconciliation to consolidated revenue. - **Consumer costs (calculated)**: 73,420,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses. - **Business costs (calculated)**: 27,473,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses. - **Reconciling items (calculated)**: 5,209,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses. ### 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. - Reported revenue categories plus the separately reported signed reconciliation equals consolidated revenue. - Of which attributable to Verizon Communications Inc.: $17.51 B; to noncontrolling interests: $443.00 M. ## Chart details: Revenue by Business Segment by Product and Service - Page: https://plicit.ai/financials/vz/fy2024-annual-income-statement/revenue-by-business-segment-by-product-and-service - Chart image: https://plicit.ai/charts/vz-fy2024-annual-revenue-by-business-segment-by-product-and-service-sankey.png Income statement for 2024-01-01 through 2024-12-31. View: Segments by Product and Service. Revenue uses this breakdown; costs and expenses retain the consolidated categories. - **Operating Revenues**: 134,788,000,000 US dollars - **Cost of revenue (calculated)**: 54,097,000,000 US dollars - **Gross profit (calculated)**: 80,691,000,000 US dollars - **Operating expenses (calculated)**: 52,005,000,000 US dollars - **Operating Income**: 28,686,000,000 US dollars - **Other income (expense), net (calculated)**: negative 5,707,000,000 US dollars - **Income Before Provision For Income Taxes**: 22,979,000,000 US dollars - **Provision for income taxes**: 5,030,000,000 US dollars - **Net Income**: 17,949,000,000 US dollars - **Business - Fios Revenues**: 1,252,000,000 US dollars - **Business - Wireless Service**: 13,753,000,000 US dollars - **Consumer - Fios Revenues**: 11,647,000,000 US dollars - **Consumer - Wireless Service**: 65,374,000,000 US dollars - **Undisclosed (calculated)**: 42,762,000,000 US dollars - **Cost of services and wireless equipment**: 54,097,000,000 US dollars - **Depreciation and amortization expense**: 17,892,000,000 US dollars - **Verizon Business Group goodwill impairment**: 0 US dollars - **Selling, general and administrative expense**: 34,113,000,000 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.: $17.51 B; to noncontrolling interests: $443.00 M.