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.
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Revenue of Verizon from 2012 to 2023, by segment*
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**Corporate and other includes the results of Verizon's Media business, Verizon Media, which operated in 2018 under the "Oath" brand, Verizon's telematics business, branded Verizon Connect, and other businesses, investments in unconsolidated businesses, unallocated corporate expenses, pension and other employee benefit related costs and interest and financing expenses.
In November 2018 Verizon Communications announced strategic reorganization of its business. Effective April 1, 2019, there are two reportable segments that Verizon operate and manage as strategic business units under the new structure - Verizon Consumer Group (Consumer) and Verizon Business Group (Business).
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Verizon. (January 23, 2024). Revenue of Verizon from 2012 to 2023, by segment* (in billion U.S. dollars) [Graph]. In Statista. Retrieved February 19, 2025, from https://www.statista.com/statistics/257309/verizon-communications-revenue-from-wireline-and-wireless-services/
Verizon. "Revenue of Verizon from 2012 to 2023, by segment* (in billion U.S. dollars)." Chart. January 23, 2024. Statista. Accessed February 19, 2025. https://www.statista.com/statistics/257309/verizon-communications-revenue-from-wireline-and-wireless-services/
Verizon. (2024). Revenue of Verizon from 2012 to 2023, by segment* (in billion U.S. dollars). Statista. Statista Inc.. Accessed: February 19, 2025. https://www.statista.com/statistics/257309/verizon-communications-revenue-from-wireline-and-wireless-services/
Verizon. "Revenue of Verizon from 2012 to 2023, by Segment* (in Billion U.S. Dollars)." Statista, Statista Inc., 23 Jan 2024, https://www.statista.com/statistics/257309/verizon-communications-revenue-from-wireline-and-wireless-services/
Verizon, Revenue of Verizon from 2012 to 2023, by segment* (in billion U.S. dollars) Statista, https://www.statista.com/statistics/257309/verizon-communications-revenue-from-wireline-and-wireless-services/ (last visited February 19, 2025)
Revenue of Verizon from 2012 to 2023, by segment* (in billion U.S. dollars) [Graph], Verizon, January 23, 2024. [Online]. Available: https://www.statista.com/statistics/257309/verizon-communications-revenue-from-wireline-and-wireless-services/
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