The company said Consumer segment operating revenues in 2023 fell $101.6 billion, or 1.8%, to $1.9 billion, and Business segment revenues fell $950 million, or 3.1%, to $30.1 billion.

1. 01

   The company said Consumer segment operating revenues in 2023 fell $101.6 billion, or 1.8%, to $1.9 billion, and Business segment revenues fell $950 million, or 3.1%, to $30.1 billion.

2. 02

   Verizon said Consumer wireless service revenue rose $1.8 billion in 2023, while wireless equipment revenue fell $3.9 billion on lower device volume due to a 26% drop in upgrades, and rose $1.4 billion on a shift to higher-priced equipment.

3. 03

   The company said its 2023 capital expenditures, including software, were $18.8 billion, down about $4.3 billion from 2022 $23.1 billion. It expects its cash requirements for the 2024 capital program to be between $17.0 billion and $17.5 billion.

4. 04

   The company said net cash used in financing activities in 2023 was $14.7 billion, mainly from dividend payments of $11.0 billion and repayments of long-term debt and financing leases and share repurchases of $10.6 billion.

Key figures

Fiscal year ended December 31, 2023

Revenue

$134.0B

Operating income

$22.9B

Net income

$11.6B

EPS

$2.75

Operating cash flow

$37.5B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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