Summary by Moomoo AI
Verizon Communications Inc. reported its annual financial results, revealing a mixed performance with a focus on network expansion and technology deployment. The company's Consumer segment's operating revenues for the year ended December 31, 2023, totaled $101.6 billion, marking a decrease of 1.8% compared to the previous year. The Business segment's operating revenues also saw a decline, totaling $30.1 billion, a 3.1% decrease from the prior year. Despite these decreases, Verizon continued to invest heavily in its wireless networks, high-speed fiber, and other advanced technologies, with capital expenditures amounting to $18.8 billion for the year. The company completed a $10 billion capital program related to C-Band spectrum deployment, aiming to enhance network performance and drive future growth. Verizon's strategy involves significant capital investments...Show More
