Verizon Reports Strong 2024 Financial Results, Eyes Growth in 2025

NEW YORK – Verizon Communications Inc. (NYSE, Nasdaq: VZ) announced robust financial and operational results for the fourth quarter and full year of 2024 on January 24, 2025, meeting its financial guidance and solidifying its position as an industry leader. The company reported significant growth in wireless service revenue, expanded adjusted EBITDA, and strong free cash flow, driven by innovative products and services that resonated with customers.

Verizon Chairman and CEO Hans Vestberg highlighted the company’s achievements, stating, “With innovations powered by the best network in the country, we are bringing the best experiences to our customers, in life and work.” He emphasized the success of customizable offerings like myPlan, myHome, Verizon Business Complete, and Total Wireless, which provide customers with control, simplicity, and value.

Looking ahead to 2025, Verizon anticipates further growth, bolstered by strategic initiatives such as the pending acquisition of Frontier Communications, new satellite partnerships, and advancements in artificial intelligence (AI) to enhance network capabilities. The company also reclassified over $2.9 billion in recurring device protection and insurance-related revenues into wireless service revenue, reflecting updated financial reporting practices.

Verizon, headquartered in New York City, serves millions of customers globally and nearly all Fortune 500 companies. In 2024, the company generated $134.8 billion in revenue, driven by its commitment to innovation and customer-centric solutions. Vestberg expressed optimism for the future, stating, “It’s only going to get better this year and beyond.”

The company cautioned that forward-looking statements are subject to risks and uncertainties, including competitive pressures, technological advancements, regulatory changes, and economic conditions. Despite these challenges, Verizon remains focused on delivering value to its customers and shareholders.

Verizon will host a webcast on January 24, 2025, at 8:30 a.m. ET to discuss its fourth-quarter 2024 earnings. Materials will be available on the company’s Investor Relations website at 7:00 a.m. ET.