Verizon 2020 revenues dip to USD128.3bn

27 Jan 2021

US telecoms giant Verizon Communications has reported total operating revenues of USD128.3 billion for the twelve months ended 31 December 2020, down from USD131.9 billion in 2019. Annual operating income for 2020 was reported at USD28.8 billion, compared to USD30.4 billion one year earlier, while net income dropped from USD19.8 billion to USD18.3 billion in the period under review.

In operational terms, Verizon’s Consumer unit closed out 31 December 2020 with 94.373 million wireless subscribers, 6.647 million broadband customers and 3.306 million fixed voice users. The telco’s Business unit, meanwhile, claimed 26.507 million wireless subscribers and 482,000 broadband customers at year-end.

CEO Hans Vestberg commented: ‘2020 was marked by transformational change, including the launch of our 5G nationwide network. We witnessed a mass shift toward virtual collaboration, touchless retail and delivery, remote work, distance learning, and telemedicine … Today, we are excited to lead technological advances beyond mobile devices and create new opportunities for growth across multiple industries.’

United States, Verizon Communications