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How Verizon Communications (VZ) makes money
Verizon Communications (VZ) made $34.3B of revenue in the third quarter 2026 (Q3 2026), +1% from a year earlier. Service revenues and other brought in $29.2B (85%); Wireless equipment brought in $5.1B (15%). Of every dollar of revenue, 25¢ was left as operating profit, 15¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Service revenues and other | $29.2B | 85.1% | -0.1% | +4% |
| Wireless equipment | $5.1B | 14.9% | +2% | -9% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $34.3B | 100.0% |
| Operating profit | $8.7B | 25.2% |
| Income tax | $1.5B | 4.4% |
| Net earnings | $5.2B | 15.1% |
| Operating cash flow | $11.5B | 33.6% |
| Free cash flow | $7.8B | 22.7% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $34.3B | +2% |
| Q2 2026 | $34.3B | -0.7% |
| Q1 2026 | $34.4B | +3% |
| Q4 2025 | $36.4B | +2% |
| Q3 2025 | $33.8B | +2% |
| Q2 2025 | $34.5B | +5% |
| Q1 2025 | $33.5B | +2% |
From Verizon Communications' 10-Q filed Oct 29, 2026 (on EDGAR).
Questions
How does Verizon Communications make money?
Verizon Communications (VZ) made $34.3B of revenue in the third quarter 2026 (Q3 2026), +1% from a year earlier. Service revenues and other brought in $29.2B (85%); Wireless equipment brought in $5.1B (15%). Of every dollar of revenue, 25¢ was left as operating profit, 15¢ was left as net earnings.
What is Verizon Communications' biggest business?
Service revenues and other: $29.2B in the third quarter 2026, 85% of revenue, +4% from a year earlier.
What is Verizon Communications' profit margin?
Net earnings were $5.2B, 15.1% of revenue, in the third quarter 2026; the operating margin was 25.2%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.