VERIZON COMMUNICATIONS INC
For the period ended Sep 30, 2024. Filed Oct 25, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 25, 2024
VZ$46.31+0.5%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Income
Verizon Communications Inc. and Subsidiaries
| Three Months Ended · Nine Months Ended | ||||
|---|---|---|---|---|
| September 30, | September 30, | |||
| (dollars in millions, except per share amounts) (unaudited) | 2024 | 2023 | 2024 | 2023 |
| Operating Revenues | ||||
| Service revenues and other | $27,987 | $27,523 | $83,405 | $81,994 |
| Wireless equipment revenues | 5,343 | 5,813 | 15,702 | 16,850 |
| Total Operating Revenues | 33,330 | 33,336 | 99,107 | 98,844 |
| Operating Expenses | ||||
| Cost of services (exclusive of items shown below) | 7,193 | 7,084 | 21,064 | 21,148 |
| Cost of wireless equipment | 6,047 | 6,353 | 17,519 | 18,557 |
| Selling, general and administrative expense | 9,706 | 7,995 | 25,873 | 23,754 |
| Depreciation and amortization expense | 4,458 | 4,431 | 13,386 | 13,108 |
| Total Operating Expenses | 27,404 | 25,863 | 77,842 | 76,567 |
| Operating Income | 5,926 | 7,473 | 21,265 | 22,277 |
| Equity in losses of unconsolidated businesses | (24) | (18) | (47) | (42) |
| Other income, net | 72 | 170 | 198 | 494 |
| Interest expense | (1,672) | (1,433) | (5,005) | (3,925) |
| Income Before Provision For Income Taxes | 4,302 | 6,192 | 16,411 | 18,804 |
| Provision for income taxes | (891) | (1,308) | (3,576) | (4,136) |
| Net Income | $3,411 | $4,884 | $12,835 | $14,668 |
| Net income attributable to noncontrolling interests | $105 | $122 | $334 | $349 |
| Net income attributable to Verizon | 3,306 | 4,762 | 12,501 | 14,319 |
| Net Income | $3,411 | $4,884 | $12,835 | $14,668 |
| Basic Earnings Per Common Share | ||||
| Net income attributable to Verizon | $0.78 | $1.13 | $2.96 | $3.40 |
| Weighted-average shares outstanding (in millions) | 4,220 | 4,213 | 4,217 | 4,209 |
| Diluted Earnings Per Common Share | ||||
| Net income attributable to Verizon | $0.78 | $1.13 | $2.96 | $3.40 |
| Weighted-average shares outstanding (in millions) | 4,225 | 4,216 | 4,221 | 4,214 |
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