Lionel Sujay Vailshery
Research expert covering cloud computing and emerging tech industries
Verizon Communications - statistics & facts
As the world becomes increasingly interconnected, Verizon stands at the forefront of the American telecommunications industry. As the largest telecommunications company in the U.S. by revenue, the U.S.-based telecommunication giant had 105 thousand employees as of 2023. Verizon is the world’s fourth-largest telecommunications company by market cap as of 2024. Additionally, Verizon has been ranked as the second-most valuable telecom brand worldwide.
Overall, Verizon’s increasing subscriber numbers and rising ARPA underscore the company’s robust growth trajectory and signal its resilience amid shifting market dynamics and declining income.
Verizon faces challenges amid stable revenues
Verizon generated nearly 134 billion U.S. dollars in revenue in 2023, maintaining revenues north of 130 billion U.S. dollars since 2021. The company usually reports its highest revenues during the fourth quarter. The consumer segment accounts for more than three-quarters of the company’s total revenues. Despite the consistently high revenues, Verizon reported an unusually low net income of 12.1 billion U.S. dollars in 2023 compared to the previous years. According to the company’s reports, this is partially due to a mix of a goodwill impairment of 5.8 billion U.S. dollars for its business units and declining in wireline operations. Despite these challenges, Verizon continues to spend more on advertising its products, reaching 3.9 billion U.S. dollars in ad spending in 2023.Verizon is the U.S.’s leading telecoms company
The U.S. telecoms market has been defined by intense competition between Verizon, AT&T, and T-Mobile US, especially in the mobile space. Verizon has long enjoyed the largest share of wireless connections in the U.S., accounting for over 37 percent in 2024. The firm has seen strong growth in connections in recent years, reporting over 144 million wireless retail connections in 2023, alongside 10.7 million fixed broadband connections. Verizon’s average revenue per account (ARPA) has also been steadily increasing since 2018.Overall, Verizon’s increasing subscriber numbers and rising ARPA underscore the company’s robust growth trajectory and signal its resilience amid shifting market dynamics and declining income.
