Verizon finishes 2023 with strong cash flow and wireless customer growth
Posts double-digit gains across fixed wireless and
total wireless postpaid net additions
Full-year 2023 wireless service revenue was $76.7 billion, up 3.2 percent from full-year 2022
Fixed wireless net additions for full-year 2023 were up over 31 percent year over year reflecting the increased demand driven by the strength and reliability of the product
Total wireless postpaid net additions for full-year 2023 spike 26 percent compared to 2022
Total wireless postpaid phone net additions jump to 449,000 for fourth-quarter 2023 compared to 217,000 for fourth-quarter 2022
Consumer postpaid phone gross additions for fourth-quarter 2023 increase nearly 17 percent year over year, marking the best quarterly performance in four years

2023 highlights
Consolidated:
• Full-year 2023 earnings per share (EPS) of $2.75, compared with $5.06 in 2022; adjustedEPS1, excluding special items, of $4.71, compared with 2022 adjusted EPS1 of $5.18.
• Total operating revenue of $134.0 billion in full-year 2023, down 2.1 percent year over year.
• Full-year 2023 cash flow from operations of $37.5 billion, an increase from $37.1 billion in 2022.
• Full-year 2023 free cash flow1 of $18.7 billion, an increase from $14.1 billion in 2022.

4Q 2023 highlights
Consolidated:
• Earnings per share was $(0.64), compared with earnings per share of $1.56 in fourthquarter 2022; adjusted EPS1, excluding special items, of $1.08, compared with $1.19 in fourth-quarter 2022.
• Total operating revenue of $35.1 billion, a decrease of 0.3 percent from fourth-quarter 2022.
• Consolidated net loss for the fourth-quarter of $2.6 billion, compared to consolidated net income of $6.7 billion in fourth-quarter 2022, and consolidated adjusted EBITDA1 of $11.7 billion, in line with the 2022 result.
Total Broadband:
• Total broadband net additions of 413,000, represented the fifth consecutive quarter that Verizon reported more than 400,000 broadband net additions. Total broadband net additions included 375,000 fixed wireless net additions, bringing the subscriber base to over 3 million.
In fourth-quarter 2023, more than 80 percent of Consumer fixed wireless gross additions were in Verizon's first 76 C-Band markets. Verizon is ahead of schedule to achieve its goal
of 4 to 5 million subscribers by the end of 2025.
• 55,000 Fios Internet net additions, down 4,000 from the fourth-quarter 2022.
• 10.7 million total broadband subscribers as of the end of fourth-quarter 2023.
Total Wireless:
• Total wireless service revenue2 of $19.4 billion, a 3.2 percent increase year over year.
• Retail postpaid phone net additions of 449,000, and retail postpaid net additions of 1,460,000.
• Retail postpaid churn of 1.18 percent, and retail postpaid phone churn of 0.93 percent.
NEW YORK - Verizon Communications Inc. (NYSE, Nasdaq: VZ) reported strong fourthquarter and full-year 2023 results highlighted by total wireless postpaid net additions, fixed wireless net additions and increased wireless service revenue. see & read more on
https://www.verizon.com/about/sites/default/files/4Q23-Earnings-Release-Final.pdf