Filing Flows › Verizon Communications (VZ) › Q3 2025
Verizon Communications (VZ) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 29, 2025
Verizon Communications (VZ) reported revenue of $33.8B for the third quarter 2025 (Q3 2025), +1% from a year earlier and -2% from the quarter before. Operating margin was 24.0%, net earnings $5.0B (14.6% of revenue).
Verizon Communications, Q3 2025: revenue $33.8B (+2% year over year), operating margin 24.0%, net earnings $5.0B, operating cash flow $11.3B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $33.8B | -2% | +1% |
| Operating profit | $8.1B | -0.8% | +37% |
| Net earnings | $5.0B | -1% | +50% |
| Operating cash flow | $11.3B | +26% | +14% |
What changed
Revenue was $33.8B in Q3 2025, up 1% year over year and down 2% from the previous quarter. Service revenues and other was the largest line at 83% of revenue. Wireless equipment added $0.28B year over year (up 5%), 56% of the total change.
Operating profit was $8.1B, a 24.0% margin (up 6.2 points year over year). Of the extra revenue versus a year earlier, 444% reached operating profit, above the 18% margin then. Total costs fell 6% while revenue rose 1%. Net earnings were $5.0B, up 50% year over year. The effective tax rate was 22.5%.
Operating cash flow was $11.3B (up 14% year over year), 223% of net income including minority interests. Non-cash charges added back $4.6B of depreciation and amortization. Working capital and other items added $1.6B.
Questions
What was Verizon Communications' revenue in the third quarter 2025?
Verizon Communications (VZ) reported revenue of $33.8B for the third quarter 2025 (Q3 2025), +1% from a year earlier and -2% from the quarter before.
Was Verizon Communications profitable in the third quarter 2025?
Operating profit was $8.1B (24.0% of revenue) and net earnings $5.0B.