{ "markdown": "Verizon Communications Inc.\n\n\nBusiness - Selected Financial Results\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
(dollars in millions
20252026
Unaudited1Q2Q3Q4Q1Q
Operating Revenues
Mobility and broadband service<sup>(1)</sup>$ 3,717$ 3,733$ 3,743$ 3,747$ 3,688
Wireless equipment8668868531,087857
Other<sup>(2)</sup>2,7032,6562,5462,5322,874
Total Operating Revenues7,2867,2757,1427,3667,419
Operating Expenses
Cost of services2,3762,2972,2242,3062,341
Cost of wireless equipment1,1941,2011,2131,4381,202
Selling, general and administrative expense2,0322,1082,0332,0031,911
Depreciation and amortization expense1,0201,0311,0351,0261,081
Total Operating Expenses6,6226,6376,5056,7736,535
Operating Income$ 664$ 638$ 637$ 593$ 884
Operating Income Margin9.1 %8.8 %8.9 %8.1 %11.9 %
Segment EBITDA(3)$ 1,684$ 1,669$ 1,672$ 1,619$ 1,965
Segment EBITDA Margin(3)23.1 %22.9 %23.4 %22.0 %26.5 %
\n\n**Footnotes:**\n (1) Mobility and broadband service revenue primarily includes revenue from mobility communication services, FWA broadband, Fios internet and other fiber-\nbased services.\n (2) Other revenue primarily includes revenue from wireline products that provide legacy voice, video and data solutions, as well as broadband solutions over a\ntraditional copper-based network. Other revenue also includes fees that partially recover the direct and indirect costs of complying with regulatory and industry\nobligations and programs, leasing and interest recognized when equipment is sold to the customer by an authorized agent under a device payment plan\nagreement.\n (3) Non-GAAP financial measure.\n\n\nDuring the first quarter of 2026, Verizon revised its presentation of revenue reporting for its reportable segments. Accordingly, beginning in the first quarter of\n2026, Verizon has reported Business revenue disaggregated by products and services as follows: Mobility and broadband service revenue, Wireless equipment\nrevenue and Other revenue. Prior period operating revenue results have been recast to conform to the current period presentation. There was no change to the\ncomposition of our reportable segments and total segment results, nor to the determination of segment profit.\n\n\nThe segment financial results above exclude the effects of special items (other than the effects of acquisition-related intangible asset amortization), which the\nCompany\u2019s chief operating decision maker does not consider in assessing segment performance.\n\n\nCertain intersegment transactions with corporate entities have not been eliminated.\n\n\n8\n\n", "structure": { "type": "document", "markdown": null, "children": [ { "type": "page", "page": null, "span": null, "width": null, "height": null, "dpi": null, "grounding": { "page": 1, "range": { "start": 0, "end": 3563 }, "box": { "xmin": 0.0, "ymin": 0.0, "xmax": 1.0, "ymax": 1.0 } }, "markdown": null, "status": "ok", "reason": null, "children": [ { "type": "marginalia", "id": "marginalia-0", "span": null, "grounding": { "page": 1, "range": { "start": 0, "end": 28 }, "box": { "xmin": 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