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VZ
Verizon Communications Inc.Stock · Communication Services
$42.56+$0.57 (+1.36%)as of market close, Jul 2, 2026
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How Verizon Communications makes money

Fiscal year

How does Verizon Communications make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year. Straight from SEC filings.

Verizon Communications Inc. · FY2025 · year ended 2025-12-31
Revenue$138.2BGross profit$138.2B · 100%Cost of revenue$0 · 0%Operating income$29.3B · 21%Operating expenses$108.9B · 79%SG&A$33.8B · 24%Other opex$75.1B · 54%Pre-tax income$22.7B · 16%Other expense$6.6B · 5%Net income$17.6B · 13%Income tax$5.1B · 4%Wireless Service$83.7B · 61%Product$25.5B · 18%Fios Revenues$12.9B · 9%Other revenue$16.1B · 12%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.