---
title: "Verizon: Business Model & Revenue Engine"
description: "Verizon revenue by business segment from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/verizon/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# Verizon: Business Model & Revenue Engine

## Direct Answer

Verizon reports revenue across 2 business segments in its fiscal 2025 Form 10-K. Verizon Consumer Group is the largest, with $107 billion of revenue (77% of the total), followed by Verizon Business Group at $29.1 billion (21%).

## How Does Verizon Make Money?

Verizon Consumer Group supplies 77% of revenue, so Verizon's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Verizon Consumer Group grew fastest (+3.8%) and Verizon Business Group slowest (-1.6%), so the revenue mix tilts toward Verizon Consumer Group while that gap lasts.

| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Verizon Consumer Group | $107 billion | $103 billion | 77.3% | 3.8% |
| Verizon Business Group | $29.1 billion | $29.5 billion | 21.0% | -1.6% |

![Bar chart of Verizon revenue by segment for fiscal 2025: Verizon Consumer Group 77.3%, Verizon Business Group 21.0%.](https://www.getswoopr.com/images/charts/verizon-business-model-segment-mix.webp)
*Verizon revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## Which Verizon Segments Earn the Most?

| Segment | FY2025 segment operating income | Segment margin |
| --- | --- | --- |
| Verizon Consumer Group | $29.6 billion | 27.7% |
| Verizon Business Group | $2.5 billion | 8.7% |

Segment operating income is the profit measure Verizon reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within Verizon more safely than against another company.

## What the Segment Figures Do Not Show

The rows above add up to 98% of Verizon's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value Verizon reported in the segment note and revenue disclosures of its Form 10-K filed February 17, 2026 (accession 0000732712-26-000007), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are Verizon's business segments?

In its fiscal 2025 Form 10-K, Verizon reports revenue for Verizon Consumer Group and Verizon Business Group.

### Which part of Verizon brings in the most revenue?

Verizon Consumer Group, with $107 billion of revenue in fiscal 2025, or 77% of the total.

### Where does Verizon report its segment results?

In the segment note to the financial statements in its Form 10-K, most recently filed February 17, 2026, alongside management's discussion of each segment's results.

## References

- [SEC EDGAR: VERIZON COMMUNICATIONS INC Form 10-K filed February 17, 2026](https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm)
- [SEC EDGAR: VERIZON COMMUNICATIONS INC annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=732712&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

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**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).