Verizon Communications Inc. reported its annual financial results, revealing a mixed performance with a focus on network expansion and technology deployment. The company's Consumer segment's operating revenues for the year ended December 31, 2023, totaled $101.6 billion, marking a decrease of 1.8% compared to the previous year. The Business segment's operating revenues also saw a decline, totaling $30.1 billion, a 3.1% decrease from the prior year. Despite these decreases, Verizon continued to invest heavily in its wireless networks, high-speed fiber, and other advanced technologies, with capital expenditures amounting to $18.8 billion for the year. The company completed a $10 billion capital program related to C-Band spectrum deployment, aiming to enhance network performance and drive future growth. Verizon's strategy involves significant capital investments...Show More

Verizon Communications Inc. reported its annual financial results, revealing a mixed performance with a focus on network expansion and technology deployment. The company's Consumer segment's operating revenues for the year ended December 31, 2023, totaled $101.6 billion, marking a decrease of 1.8% compared to the previous year. The Business segment's operating revenues also saw a decline, totaling $30.1 billion, a 3.1% decrease from the prior year. Despite these decreases, Verizon continued to invest heavily in its wireless networks, high-speed fiber, and other advanced technologies, with capital expenditures amounting to $18.8 billion for the year. The company completed a $10 billion capital program related to C-Band spectrum deployment, aiming to enhance network performance and drive future growth. Verizon's strategy involves significant capital investments to acquire wireless spectrum, expand network capacity, and invest in fiber infrastructure. The company's future plans include leveraging its C-Band and millimeter wave spectrum holdings, along with its 4G LTE network and fiber infrastructure, to drive innovative products and services. Verizon is also focusing on deploying new network architecture and technologies to maintain its leadership in 4G and 5G wireless networks. The company's financial and operating performance improvements are a key focus, with strategies requiring significant capital investments primarily in wireless spectrum and network investments.