Verizon Communications Revenue, Marketcap, Net Worth, Competitors 2025
Darius
Verizon Communications, Inc. logo
Key Stats
Market capitalization of approximately $167.56 billion as of November 2024
Annual revenue of $134.79 billion in 2024, representing modest growth from previous year
Operates largest wireless network in United States with 93 million postpaid phone customers
Serves approximately 8 million broadband customers through fiber and copper networks
Employs over 105,000 people across operations in United States and internationally
Verizon Communications stands as a leading telecommunications company delivering wireless and wireline services across the United States. The organization emerged from the 2000 merger between Bell Atlantic and GTE Corporation, creating one of the most significant telecommunications entities in American business history.
Operating through two primary segments, the company provides wireless communications services alongside broadband, video, and data solutions. The wireless division serves millions of customers nationwide, while the wireline segment delivers fiber-optic and copper-based network services primarily in the Mid-Atlantic and Northeastern regions.
Headquartered in New York City, the telecommunications provider maintains a strong position in the competitive market through continuous network investment and strategic acquisitions. The company has established itself as a major player in the evolution of mobile technology, from early 3G networks to current 5G deployment across urban and suburban markets.
Verizon Communications History
1876-1984
Alexander Graham Bell invented the electric telephone and founded The Bell Telephone Company. The Bell System dominated telephone services until the 1984 AT&T breakup created seven Regional Bell Operating Companies, including Bell Atlantic.
1997
Bell Atlantic and NYNEX merged their operations to form the expanded Bell Atlantic Corporation, consolidating telecommunications services across the Northeast and Mid-Atlantic regions.
2000
Bell Atlantic merged with GTE Corporation to create Verizon Communications. The name derives from combining Latin word veritas meaning truth with horizon. The same year, Verizon Wireless launched through a joint venture with Vodafone.
2002
Verizon launched the first third-generation network in the United States, marking a significant advancement in mobile data capabilities and setting the stage for future wireless innovation.
2005-2009
Strategic acquisitions expanded the company footprint. MCI acquisition in 2005 strengthened business services. CyberTrust purchase in 2007 added security capabilities. Alltel Wireless acquisition in 2009 made Verizon one of largest wireless carriers.
2010
The company introduced the first large-scale fourth-generation LTE network in the United States, providing faster mobile internet speeds and enhanced data capabilities to millions of customers nationwide.
2015
Verizon acquired AOL to expand digital content and advertising capabilities. The company also created the 5G Technology Forum, bringing together industry partners to advance fifth-generation wireless technology development.
2017
Yahoo acquisition completed, with internet assets combined with AOL business to create Oath. The move positioned the company in digital media while maintaining focus on core telecommunications services.
2019
Fifth-generation mobile service launched in Chicago and Minneapolis, marking world’s first commercial 5G smartphone connectivity. Oath rebranded as Verizon Media, consolidating digital properties under unified brand.
2021
TracFone Wireless acquisition completed for approximately 6.9 billion dollars, adding 20 million prepaid subscribers. Verizon Media sold to Apollo Funds, refocusing company on core telecommunications business.
2024
Agreement reached to acquire Frontier Communications for 20 billion dollars in all-cash transaction. The deal will expand fiber footprint to 25 million premises across 31 states, expected to close in first quarter 2026.
Verizon Communications Co-founders
Bell Atlantic Corporation
Regional Bell Operating Company created from 1984 AT&T breakup, providing telecommunications services across Mid-Atlantic and Northeastern states before merging with GTE.
GTE Corporation
One of largest independent telephone companies in United States, operating from 1926 with extensive local and long-distance services nationwide before 2000 merger.
Verizon Communications Revenue
Verizon Communications generated revenue of approximately 134.79 billion dollars in 2024, representing a slight increase from the previous year. The company maintains stable financial performance through diversified service offerings across wireless and wireline segments.
Verizon Communications Marketcap
The telecommunications company maintains a market capitalization of approximately 167.56 billion dollars as of November 2024. The valuation reflects the company’s position as a major telecommunications provider in the competitive United States market.
Verizon Communications Acquisitions
Verizon Communications has executed numerous strategic acquisitions to strengthen its market position and expand service capabilities. The company acquired MCI in 2005, adding significant business telecommunications assets and expanding enterprise service offerings across the United States.
In 2009, the Alltel Wireless purchase transformed Verizon into one of the largest wireless carriers in the country. The deal brought millions of additional subscribers and expanded network coverage into rural and underserved markets across multiple states.
The 2015 acquisition of AOL marked an entry into digital media and advertising, bringing platforms like HuffPost and AOL.com into the portfolio. Two years later, Yahoo purchase completed the digital strategy, though these assets were eventually sold to Apollo Funds in 2021 as the company refocused on core telecommunications.
TracFone Wireless acquisition in 2021 represented a major expansion into the prepaid wireless market. The approximately 6.9 billion dollar transaction brought 20 million prepaid subscribers under brands including Straight Talk, Total Wireless, and TracFone, positioning Verizon as a leader in value wireless services.
Most recently, the company announced plans to acquire Frontier Communications in 2024 for 20 billion dollars. This strategic transaction will significantly expand the fiber network footprint, adding 2.2 million fiber subscribers and extending reach to approximately 25 million premises across 31 states. The acquisition, expected to close in first quarter 2026, represents a major investment in fixed broadband infrastructure to complement wireless offerings and compete more effectively in combined mobility and broadband services markets nationwide.
Verizon Communications Competitors
The telecommunications market features intense competition among major national carriers and regional providers. AT&T and T-Mobile represent the primary competitors in wireless services, while cable operators like Charter Communications compete in broadband markets.
Competitor
Primary Services
Market Position
AT&T
Wireless, Fiber, Business Services
Second largest US wireless carrier
T-Mobile
Wireless, Home Internet
Third largest US wireless carrier
Comcast
Cable, Internet, Mobile
Largest cable provider in US
Charter Communications
Cable, Internet, Mobile
Second largest cable operator
Dish Network
Satellite TV, Wireless
Emerging wireless competitor
US Cellular
Regional Wireless
Regional carrier in Midwest
Cox Communications
Cable, Internet
Regional cable provider
Altice USA
Cable, Internet, Mobile
Regional cable operator
Google Fi
MVNO Wireless
Virtual network operator
Visible
Prepaid Wireless
Verizon-owned budget brand
FAQs
What does Verizon Communications do?
Verizon Communications provides wireless and wireline telecommunications services including mobile phone service, broadband internet, fiber-optic connections, business networking solutions, and data center services across the United States market.
When was Verizon Communications founded?
Verizon Communications was formed on June 30, 2000, through the merger of Bell Atlantic Corporation and GTE Corporation, creating one of the largest telecommunications companies in United States business history.
Who are Verizon Communications main competitors?
Primary competitors include AT&T and T-Mobile in wireless services, along with cable providers like Comcast and Charter Communications in broadband markets. Regional carriers and virtual network operators also compete in specific segments.
What is Verizon Communications market capitalization?
Verizon Communications maintains a market capitalization of approximately 167.56 billion dollars as of November 2024, reflecting its position as one of the largest telecommunications providers in the United States market.
How much revenue does Verizon Communications generate?
Verizon Communications generated annual revenue of approximately 134.79 billion dollars in 2024, with majority of income derived from wireless service operations serving millions of postpaid and prepaid customers nationwide.
