Filing Flows › Verizon Communications (VZ) › Q4 2025
Verizon Communications (VZ) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 17, 2026
Verizon Communications (VZ) reported revenue of $36.4B for the fourth quarter 2025 (Q4 2025), +2% from a year earlier and +8% from the quarter before. Operating margin was 13.8%, net earnings $2.3B (6.4% of revenue).
Verizon Communications, Q4 2025: revenue $36.4B (+2% year over year), operating margin 13.8%, net earnings $2.3B, operating cash flow $9.1B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $36.4B | +8% | +2% |
| Operating profit | $5.0B | -38% | -33% |
| Net earnings | $2.3B | -53% | -53% |
| Operating cash flow | $9.1B | -19% | -13% |
What changed
Revenue was $36.4B in Q4 2025, up 2% year over year and up 8% from the previous quarter. Service revenues and other was the largest line at 77% of revenue.
Operating profit was $5.0B, a 13.8% margin (down 7.0 points year over year). Operating profit fell $2.4B even though revenue rose $0.70B versus a year earlier, so costs grew faster than sales. Total costs grew 11% against revenue growth of 2%. The fastest-growing cost line was SG&A (+26%). Net earnings were $2.3B, down 53% year over year. The effective tax rate was 20.1%.
Operating cash flow was $9.1B (down 13% year over year), 372% of net income including minority interests. Non-cash charges added back $4.5B of depreciation and amortization. Working capital and other items added $2.1B.
Questions
What was Verizon Communications' revenue in the fourth quarter 2025?
Verizon Communications (VZ) reported revenue of $36.4B for the fourth quarter 2025 (Q4 2025), +2% from a year earlier and +8% from the quarter before.
Was Verizon Communications profitable in the fourth quarter 2025?
Operating profit was $5.0B (13.8% of revenue) and net earnings $2.3B.