Verizon Q4 2023 Earnings Report
Key Takeaways
Verizon reported a consolidated net loss of $2.6 billion for Q4 2023, compared to a net income of $6.7 billion in Q4 2022. Total operating revenue was $35.1 billion, a slight decrease of 0.3 percent year over year. However, the company saw growth in total wireless service revenue, which increased by 3.2 percent year over year.
Total broadband net additions reached 413,000, marking the fifth consecutive quarter with over 400,000 net additions.
Total wireless service revenue increased by 3.2 percent year over year, reaching $19.4 billion.
Retail postpaid phone net additions totaled 449,000, and retail postpaid net additions reached 1,460,000.
Consumer postpaid phone gross additions increased nearly 17 percent year over year, representing the best quarterly performance in four years.
Verizon
Verizon
Verizon Revenue by Segment
Forward Guidance
For 2024, Verizon expects total wireless service revenue growth of 2.0 percent to 3.5 percent, adjusted EBITDA growth of 1.0 percent to 3.0 percent, adjusted EPS of $4.50 to $4.70, and capital expenditures between $17.0 billion and $17.5 billion.
Positive Outlook
- Total wireless service revenue growth of 2.0% to 3.5%.
- Adjusted EBITDA growth of 1.0% to 3.0%.
- Adjusted EPS of $4.50 to $4.70.
- Capital expenditures between $17.0 billion and $17.5 billion.
- Adjusted effective income tax rate in the range of 22.5% to 24.0%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income