Verizon Reports Strong Q1 2025 with Gains in Wireless and Broadband Services
Verizon Communications posted solid results for the first quarter of 2025, reporting total operating revenue of $33.5 billion, a 1.5% increase year over year. Net income rose to $5.0 billion, up from $4.7 billion in Q1 2024, while adjusted EPS climbed to $1.19. Free cash flow reached $3.6 billion, marking a significant gain from $2.7 billion the previous year. Verizon attributed its performance to a diversified portfolio across wireless and broadband, disciplined financial management, and product strategies tailored to evolving customer needs.
Wireless service revenue grew 2.7% to $20.8 billion, leading the industry. However, Verizon recorded a loss of 289,000 postpaid phone customers. On the broadband front, the company added 339,000 new subscribers, driven largely by strong demand for fixed wireless access (FWA), which contributed 308,000 net additions. Verizon’s total broadband base grew to 12.6 million connections, up 13.7% year over year. Fios internet also posted 45,000 net additions for the quarter.
Consumer segment revenue rose to $25.6 billion, up 2.2%, with gains in both wireless and broadband. The company reported 137,000 net additions in core prepaid users and 199,000 new fixed wireless customers. Verizon Business added 94,000 retail postpaid subscribers and 109,000 fixed wireless connections, though total revenue declined slightly. Operating income for the business unit surged 66.4%, driven by growth in wireless service revenue. Verizon reaffirmed its full-year outlook, targeting wireless service revenue growth of up to 2.8%, with capital expenditures expected between $17.5 billion and $18.5 billion.
Key Points:
- Total Q1 2025 revenue: $33.5 billion (+1.5% YoY)
- Net income: $5.0 billion; adjusted EPS: $1.19
- Free cash flow: $3.6 billion (+$0.9 billion YoY)
- Wireless service revenue: $20.8 billion (+2.7%)
- Wireless equipment revenue: $5.4 billion (+0.7%)
- Postpaid phone net losses: 289,000
- Broadband net additions: 339,000
- Fixed Wireless Access: +308,000
- Fios internet: +45,000
- Total broadband base: 12.6 million (+13.7%)
- Consumer segment revenue: $25.6 billion (+2.2%)
- Core prepaid net adds: +137,000
- Fixed wireless net adds: +199,000
- Verizon Business revenue: $7.3 billion (-1.2%)
- Business wireless net adds: +94,000
- Fixed wireless adds: +109,000
- Operating income: +66.4% YoY
- Debt reduced to $117.3 billion from $128.4 billion YoY
- 2025 guidance:
- Wireless revenue growth: 2.0%–2.8%
- Adjusted EBITDA growth: 2.0%–3.5%
- Free cash flow: $17.5B–$18.5B
- Capex: $17.5B–$18.5B
“We continue to drive our multi-year customer-first strategy, launching new programs such as our 3-year price lock and free phone guarantee for consumers,” said Verizon CEO Hans Vestberg. “With our high quality customer base, network superiority and position of financial strength, we have the momentum and flexibility to continue innovating to meet customer needs and invest for growth.”