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Verizon Communications Inc., taken apart.

Four panels built from the reported annual accounts, then the rest of the engine. Every figure below is Verizon Communications Inc.’s own filing, not an estimate of ours.

Income statement, four years

Read across, not down. Each line is shown for four fiscal years, so the direction matters more than any single column.

Verizon Communications Inc. annual income statement, as reported. Columns are fiscal years, most recent first.
LineFY2025FY2024FY2023FY2022
Revenue$138.19B$134.79B$133.97B$136.84B
Cost of revenue$56.77B$54.10B$54.89B$59.13B
Gross profit$81.43B$80.69B$79.09B$77.70B
Operating expenses$52.17B$52.01B$50.37B$47.23B
Operating income$29.26B$28.69B$28.72B$30.47B
Net income$17.17B$17.51B$11.61B$21.26B
Diluted EPS4.064.142.755.06

Net income and earnings per share moved together (-19.2% and -19.8%), so the share count barely changed over the period.

The rest of the engine

The panels above are built from filings. These run against the live engine.