Verizon Communications
RANK
23
In early 2021, Verizon bid more than $45 billion in an auction for airwave licenses to accommodate its transition to a higher-speed 5G network. Over the ensuing year, that investment has begun to pay off. CEO Hans Vestberg says customers are embracing 5G faster than they did 4G, with about 25% of Verizon customers using the faster networks as of early 2022. Verizon can charge a premium for those networks, and its profits were up 24% in 2021 versus 2020. (One ongoing speed bump: Rollout of 5G coverage at and near airports was restricted early in 2022 after airlines and regulators expressed concern about potential interference with airplane navigation equipment.) Verizon announced in April 2022 that it was raising its minimum wage to $20 hourly for customer service, retail, and inside sales employees.
Vivien Killilea—Getty Images/Verizon
Company Information
As of 2/1/2023
Country
U.S.
Headquarters
New York City
Industry
Telecommunications
CEO
Hans E. Vestberg
Website
Company Type
Public
Ticker
VZ
Revenues ($M)
$136,835
Profits ($M)
$21,256
Market Value ($M)
$167,993
Employees
117,100
Figures are for fiscal year ended Dec. 31, 2022. Market value as of Jan. 20, 2023. Sources: Bloomberg; S&P Global.
Key Financials (Last Fiscal Year)
$ millions
% change
Revenues ($M)
$133,613
4.1%
Profits ($M)
$22,065
24%
Assets ($M)
$366,596
-
Total Stockholder Equity ($M)
$81,790
-
Profit Ratios
Profit as % of Revenues
16.5%
Profits as % of Assets
6%
Profits as % of Stockholder Equity
27%
Earnings Per Share (Last Fiscal Year)
Earnings Per Share ($)
532
EPS % Change (from 2020)
23.7%
EPS % Change (5 year annual rate)
10.6%
EPS % Change (10 year annual rate)
20.1%
Total Return
Total Return to Investors (2021)
-7.4%
Total Return to Investors (5 year, annualized)
4%
Total Return to Investors (10 year, annualized)
7.3%
Verizon Communications Rank History
Historical Data
Year | Revenues ($M) | Profits ($M) | Assets ($M) | Total Stockholder Equity ($M) |
---|---|---|---|---|
2021 | $128,292-2.7% | $17,801-7.6% | $316,481 | $67,842 |
2020 | $131,8680.8% | $19,26524.1% | $291,727 | $61,395 |
2019 | $130,8633.8% | $15,528-48.4% | $264,829 | $53,145 |
2018 | $126,034 | $30,101129.3% | $257,143 | $43,096 |
2017 | $125,980-4.3% | $13,127-26.6% | $244,180 | $22,524 |
SHOW MORE
Lists ranking Verizon Communications
Latest news for Verizon Communications