Verizon closed out 2024 with a historic fourth quarter, adding nearly 1 million postpaid mobile and broadband subscribers—the company’s best quarterly result in over a decade. Total wireless service revenue hit $20 billion in Q4, solidifying its status as an industry leader. “With innovations powered by the best network in the country, we’re delivering unmatched experiences for our customers,” said Hans Vestberg, Verizon’s Chairman and CEO. “As we move into 2025, we’re poised for even greater success with AI enhancements, strategic partnerships, and the expansion of our fixed wireless and fiber offerings.”
The company’s focus on customized customer solutions, like myPlan and Verizon Business Complete, alongside continued growth in fixed wireless access (FWA), led to strong results across all key segments. With 373,000 FWA additions in Q4, Verizon’s total broadband connections grew to 12.3 million, a 15% year-over-year increase. These results demonstrate Verizon’s ability to execute on its strategy of growing wireless service revenue, enhancing operational efficiency, and delivering strong free cash flow.
Looking ahead to 2025, Verizon aims to maintain its upward trajectory with expected wireless service revenue growth of up to 2.8% and $17.5–$18.5 billion in capital investments. The company plans to leverage its leadership in network technology, further bolstered by AI and strategic acquisitions, to deepen customer relationships and expand its market share.
Key Metrics and Subscriber Trends:
Financial Performance:
• Q4 2024 wireless service revenue: $20 billion (+3.1% YoY).
• Full-year operating revenue: $134.8 billion (+0.6% YoY).
• Q4 operating revenue: $35.7 billion (+1.6% YoY).
• Wireless equipment revenue: $7.5 billion in Q4 (+0.6% YoY).
• Adjusted EPS (full year): $4.59, slightly lower than 2023 ($4.71).
Wireless and Mobility Growth:
• Postpaid phone net additions: 568,000 in Q4 (+26.5% YoY).
• Wireless retail postpaid churn: 0.89% for Consumer and 1.09% for Business in Q4.
• Consumer ARPA (Average Revenue Per Account): $139.77 (+4.2% YoY).
• Business wireless net additions: 283,000 in Q4, including 142,000 postpaid phone adds.
Broadband & Fixed Wireless Access (FWA):
• Broadband net additions: 408,000 in Q4, maintaining a quarterly pace above 350,000.
• Fixed wireless access net additions: 373,000 in Q4, bringing the total base to nearly 4.6 million.
• Fios Internet net additions: 51,000 in Q4 (compared to 55,000 YoY).
• Total broadband connections: 12.3 million as of Q4 2024 (+15% YoY).
Consumer Segment:
• Consumer revenue (Q4): $27.6 billion (+2.2% YoY).
• Consumer fixed wireless net additions: 216,000 in Q4.
• Consumer Fios revenue: $2.9 billion in Q4.
• Strongest quarterly postpaid phone gross additions in five years, driven by 426,000 net adds.
Business Segment:
• Business wireless service revenue: $3.5 billion in Q4 (+3.4% YoY).
• Fixed wireless net additions: 157,000 for Business in Q4.
• Business operating income margin: 7.9% in Q4, up from 5.8% in 2023.
Debt and Cash Flow:
• Net unsecured debt: $113.7 billion at the end of Q4, down $10.6 billion YoY.
• Full-year free cash flow: $19.8 billion (+$1.1 billion YoY).
2025 Outlook:
• Wireless service revenue growth: 2.0–2.8%.
• Adjusted EBITDA growth: 2.0–3.5%.
• Capital expenditures: $17.5–$18.5 billion.
• Free cash flow: $17.5–$18.5 billion.
