Verizon Q4 net loss $2.6B on $5.8B goodwill impairment; wireless adds strong

VERIZON COMMUNICATIONS INC

2023-FY EPS reported $2.75 revenue$133,974,000,000

Q4 EPS $(0.64) vs $1.56; adjusted EPS $1.08 vs $1.19; revenue $35.1B, down 0.3% YoY.
Full-year 2023 EPS $2.75 vs $5.06; adjusted EPS $4.71 vs $5.18; revenue $134.0B, down 2.1%.
Q4 included $5.8B goodwill impairment in Business unit, $992M pension/OPEB adjustment, $296M severance.
Retail postpaid phone net adds 449K in Q4 (217K prior year); fixed wireless net adds 375K; total broadband base >3M.
Full-year free cash flow $18.7B, up from $14.1B; cash from ops $37.5B.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

VERIZON COMMUNICATIONS INC reported financial results for fourth quarter and full year of 2023.

Period: fourth quarter and full year of 2023
Result: reported results

Exact text from the filing

Attached as Exhibit 99.1 hereto are a press release and financial tables, dated January 23, 2024, issued by Verizon Communications Inc. (Verizon). Attached as Exhibit 99.2 hereto is commentary, dated January 23, 2024, discussing Verizon's financial and operating results for the fourth quarter and full year of 2023.

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Source: SEC EDGAR

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