Verizon(VZ) - 2025 Q1 - Quarterly Results

Financial Performance - Total wireless service revenue reached $20.8 billion in Q1 2025, up 2.7$5.0 billion, compared to $4.7 billion in Q1 2024[7] - Earnings per share (EPS) increased to$1.15 in Q1 2025 from $1.09 in Q1 2024[7] - Total operating revenue was$33.5 billion in Q1 2025, reflecting a 1.5% increase year over year[7] - Free cash flow rose to $3.6 billion in Q1 2025, up from$2.7 billion in Q1 2024[7] - Consolidated Net Income for the three months ended March 31, 2025, was $4,983 million, compared to$4,722 million for the same period in 2024, reflecting a year-over-year increase of 5.5%[45] - Consolidated Adjusted EBITDA for the three months ended March 31, 2025, was $12,555 million, up from$12,072 million in the same period last year, representing a year-over-year growth of 4.0%[45] - Adjusted EPS for the three months ended March 31, 2025, was $1.19, compared to$1.15 for the same period in 2024, showing a growth of 3.5%[50] Revenue Breakdown - Consumer wireless service revenue was $17.2 billion in Q1 2025, an increase of 2.6$7.3 billion in Q1 2025, a decrease of 1.2% year over year[11] - Total operating revenues for the consumer segment increased by 2.2% to $25,618 million for the three months ended March 31, 2025, compared to$25,057 million in the same period last year[26] - Wireless service revenue increased by 2.6% to $17,199 million compared to$16,760 million in the previous year[34] - Total wireless revenue reached $27,176 million, reflecting a 2.7$26,459 million[41] Subscriber Growth - Broadband net additions totaled 339,000 in Q1 2025, with fixed wireless access growing to over 4.8 million subscribers[11] - Total broadband connections grew by 10.2% to 10,244,000 from 9,297,000 year-over-year[29] - Fixed wireless access (FWA) broadband connections surged by 40.8% to 2,914,000, up from 2,070,000[29] - Verizon aims to achieve 8 to 9 million fixed wireless access subscribers by 2028[11] Operating Metrics - Operating income rose by 6.1% to $7,978 million for the three months ended March 31, 2025, compared to$7,521 million for the same period in 2024[19] - Operating expenses for the three months ended March 31, 2025, were $25,507 million, a marginal increase of 0.2$25,460 million in the same period last year[19] - Operating Income Margin for the Consumer segment was 29.0% for the three months ended March 31, 2025, slightly down from 29.4% in the same period last year[54] Cash Flow and Debt - Cash and cash equivalents decreased by $1,937 million to$2,257 million as of March 31, 2025, from $4,194 million at the end of 2024[21] - Total assets decreased by$4,347 million to $380,364 million as of March 31, 2025, compared to$384,711 million at the end of 2024[21] - Total debt as of March 31, 2025, was $143,649 million, a slight decrease from$144,014 million at the end of 2024[22] - Total Debt as of March 31, 2025, was $143,649 million, with Net Unsecured Debt at$115,056 million, resulting in a Net Unsecured Debt to Consolidated Adjusted EBITDA Ratio of 2.3x[49] - The forecast for Free Cash Flow for the twelve months ending December 31, 2025, is projected to be between $17,500 million and$18,500 million[53] Dividends - The company declared quarterly cash dividends of $0.6775 per common share, consistent with the previous quarter[22] Business Segment Performance - Segment EBITDA for the Consumer segment for the three months ended March 31, 2025, was$10,967 million, reflecting a year-over-year increase of 2.7%[54] - The Business segment reported Segment EBITDA of $1,684 million for the three months ended March 31, 2025, which is a 10.3% increase compared to the same period last year[54]