Revenue of Verizon 2012-2023, by segment

In 2023, Verizon Communications generated 101.6 billion U.S. dollars in its consumer segment, more than three times the amount generated in its business segment. Effective April 1, 2019, there are two reportable segments that Verizon operates and manages as strategic business units under the new structure - Verizon Consumer Group (Consumer) and Verizon Business Group (Business).

Verizon Communications’ segments

The previous Wireless segment (Verizon Wireless) provides wireless communications products and services on a postpaid and prepaid basis in the United States. The previous Wireline segment provides corporate networking solutions and security and managed network services around the world, for example. The new Consumer segment provides consumer-focused wireless and wireline communications services and products. The new Business segment provides wireless and wireline communications services and products, video and data services, corporate networking solutions, security and managed network services, local and long distance voice services and network access to deliver various Internet of Things (IoT) services and products. The smallest segment – Corporate and Other – stays unchanged after the restructuring and includes the results from subsidiaries, such as Verizon Media and Verizon Connect, as well as historical results from divested businesses.

Verizon’s revenue and subscribers

Verizon Communications’ total operating revenue amounted to around 134 billion U.S. dollars in 2023. This made the company the largest telecommunications operator in the United States by revenue, with AT&T having seen its revenue fall with the spin-off of its interests in WarnerMedia. As of the first quarter of 2024, Verizon accounted for over 37 percent of U.S. mobile subscriptions.