Verizon Communications Inc. (NYSE: VZ) announced its fourth-quarter earnings for fiscal year 2024, revealing robust financial performance and significant growth in its customer base. For the quarter, Verizon reported revenues of $34 billion, up 4% year-over-year, driven by gains in its wireless and broadband services. The company added 1 million new retail postpaid phone customers, bringing its total to 126 million subscribers, showcasing the growing demand for its services despite a competitive market.
The company’s net income for Q4 was reported at $6 billion, or $1.43 per share, exceeding analysts’ expectations. Chief Executive Officer Hans Vestberg commented on the results, stating, “We are committed to providing superior value to our customers and shareholders. Our investments in 5G technology have positioned us well for future growth.”
Verizon’s performance in 2024 reflected a strong emphasis on enhancing customer experiences and expanding its 5G network, which now covers over 250 million people across the United States. The rollout of 5G home internet has also contributed to its broadband customer base increase by 300,000 in the last quarter alone.
The company confirmed its operating income increased by 5%, further strengthening its operating margin to 29.6%. As a result, Verizon’s stock price rose by 3% in after-hours trading following the announcement.
Looking ahead, Verizon reaffirmed its full-year guidance for 2025, predicting revenue growth between 3% to 4% and adjusted EBITDA of $43 billion. Vestberg added, “As we move forward, we will continue to leverage technology to enhance our service offerings and remain competitive in the dynamic telecommunications landscape.”
With a forward dividend yield of 7.5%, Verizon remains an attractive option for investors seeking income, alongside its commitment to investing in infrastructure and innovation. This performance illustrates Verizon’s resilience in the face of economic challenges and its ability to adapt to changing market conditions as technology continues to evolve.
