Mobility: Industry-leading wireless service revenue and double-digit growth in postpaid phone net adds

• Wireless service revenue2 grew sequentially for the 18th consecutive quarter. Total wireless service revenue2 in fourth-quarter 2024 was $20.0 billion, up 3.1 percent year over year, driven primarily by pricing actions implemented in recent quarters, sales of perks and add-on services and growth in fixed wireless access.
• Wireless equipment revenue of $7.5 billion in fourth-quarter 2024, up 0.6 percent compared to fourth-quarter 2023, predominantly due to increased upgrade volumes in the quarter.
• Total postpaid phone net additions of 568,000 in fourth-quarter 2024, up from 449,000 in fourth-quarter 2023.
  
   

Broadband: Verizon continued to take broadband market share with strong demand for best in class Fios and fixed wireless access offerings

• Broadband net additions of 408,000 in fourth-quarter 2024, continuing the quarterly pace of over 350,000 broadband net additions.
• Total fixed wireless access net additions of 373,000 in fourth-quarter 2024, growing the base to nearly 4.6 million fixed wireless subscribers. The company is well-positioned to achieve the next milestone of 8 to 9 million fixed wireless access subscribers by 2028.
• Fios internet net additions were 51,000 compared to 55,000 in fourth-quarter 2023.
• Total broadband connections grew to more than 12.3 million as of the end of fourth-quarter 2024, representing a 15.0 percent increase year over year.

Verizon Consumer: Positive net additions with strongest quarterly phone gross additions result in five years

• Total Verizon Consumer revenue in fourth-quarter 2024 was $27.6 billion, an increase of 2.2 percent year over year, predominantly driven by gains in service revenue.
• Wireless service revenue in fourth-quarter 2024 was $16.5 billion, up 3.0 percent year over year, primarily driven by growth in Consumer wireless postpaid average revenue per account (ARPA) from pricing actions and continued fixed wireless access adoption.
• Consumer wireless retail postpaid churn was 1.12 percent in fourth-quarter 2024, and wireless retail postpaid phone churn was 0.89 percent.
• Consumer ARPA of $139.77 in fourth-quarter 2024, an increase of 4.2 percent compared to fourth-quarter 2023.
• In fourth-quarter 2024, Consumer reported 426,000 wireless retail postpaid phone net additions, up 34.0 percent from fourth-quarter 2023. This improvement was driven by a 5.5 percent year over year increase in postpaid phone gross additions, which represented the strongest quarterly result for postpaid phone gross additions in five years.
• Excluding the contribution from the company's second number offering, Consumer reported 82,000 wireless retail postpaid phone net additions for the year, meeting the goal of positive net additions for 2024, and 367,000 wireless retail postpaid phone net additions for fourth-quarter 2024.
• Excluding SafeLink, Verizon's brand offering access to government-sponsored connectivity benefits and programs, in fourth-quarter 2024 Consumer reported 65,000 wireless retail prepaid net additions compared to 263,000 net losses in fourth-quarter 2023.
• Consumer reported 216,000 fixed wireless net additions and 47,000 Fios Internet net additions in fourth-quarter 2024. Consumer Fios revenue was $2.9 billion in fourth-quarter 2024.
• In fourth-quarter 2024, Consumer operating income was $6.9 billion, a decrease of 1.9 percent year over year, and segment operating income margin was 25.1 percent, compared to 26.1 percent in fourth-quarter 2023. Segment EBITDA1 in fourth-quarter 2024 was $10.3 billion, a decrease of 0.4 percent year over year. Improvements in Consumer wireless service revenue were more than offset by increases in upgrade volumes and the impact of related promotions in the period. Segment EBITDA margin1 in fourth-quarter 2024 was 37.5 percent compared to 38.5 percent in fourth-quarter 2023.

Verizon Business: Strong wireless service revenue driven by continued wireless customer growth

• Business wireless service revenue in fourth-quarter 2024 was $3.5 billion, an increase of 3.4 percent year over year. This result was driven by continued strong net additions for both mobility and fixed wireless access, as well as benefits from pricing actions implemented in recent quarters.
• Total Verizon Business revenue was $7.5 billion in fourth-quarter 2024, a decrease of 1.5 percent year over year, as increases in wireless service revenue were more than offset by decreases in wireline revenue.
• Business reported 283,000 wireless retail postpaid net additions in fourth-quarter 2024. This result included 142,000 postpaid phone net additions. Our value proposition continued to resonate across all customer groups with particular strength in small and medium businesses.
• Business wireless retail postpaid churn was 1.45 percent in fourth-quarter 2024, and wireless retail postpaid phone churn was 1.09 percent.
• Business reported 157,000 fixed wireless net additions in fourth-quarter 2024.
• In fourth-quarter 2024, Verizon Business operating income was $594 million, an increase of 34.1 percent year over year, resulting in segment operating income margin of 7.9 percent, an increase from 5.8 percent in fourth-quarter 2023. Segment EBITDA1 in fourth-quarter 2024 was $1.7 billion, an increase of 3.0 percent year over year. The result was driven by wireless service revenue growth partially offset by wireline revenue declines. Segment EBITDA margin1 in fourth-quarter 2024 was 22.1 percent, an increase from 21.1 percent in fourth-quarter 2023.