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The statistic highlights Verizon’s Revenue Breakdown Worldwide, split across Small and medium enterprises, Global enterprises, Wholesale, Public sector and others, reported on an annual basis from 2018 onwards.
The following table highlights Verizon’s revenue breakdown in recent years.
|Revenue by Segment||2019||2020||2021||Revenue Mix by Segment for 2021|
|Small and Medium Business||$11.46||$11.13||$11.77||37.93%|
|Public sector and other||$5.92||$6.36||$6.32||20.37%|
(All figures in billions, except percentages)
Small and Medium Business
These are the company’s U.S.-based Small and Medium Businesses that do not meet the criteria to be classified as Global Enterprises. Services included under this category are:
Most of the revenues generated by the company come via Small and Medium businesses. In 2021, this segment generated about 37.93% of the company’s total revenues. Comparably, revenue increased from $11.13 billion in 2020 to $11.77 billion in 2021, marking a growth of 5.75% on a year-on-year basis.
Global Enterprise provides services to major corporations and non-U.S. public sector customers, who are recognized based on their size and volume of business with Verizon. Global Enterprise provides a comprehensive range of connectivity, security, and professional services to facilitate customers to improve company operations, reduce risk, and capitalize on data. Services included under this category are:
In 2021, this segment contributed about 32.94% share of the company’s total revenue. Revenue from this segment decreased slightly from $10.41 billion earned in 2020 to $10.22 billion earned in 2021, making a decline of 1.79% on a year-on-year basis.
Public Sector and others
The public sector and others provide wireless goods and services, as well as wireline connectivity and managed solutions, primarily to federal, state, and municipal governments and educational institutions based in the United States. The services comprised under this segment are connectivity and business services, which are similar to Global Enterprise’s goods and services but with features and prices tailored in accordance with the needs of governments and educational institutions.
In 2021, revenues from this segment contributed about 20.37% of the company’s total revenues. Revenue from the public sector and others decreased from $6.36 billion earned in 2020 to $6.32 billion earned in 2021, marking a gradual decline of about 0.63% on a year-on-year basis.
This segment provides wireline communications services, such as data, voice, local dial tone, and broadband service. These services are mainly offered to long-distance, local, and wireless carriers who utilize the company’s facilities to serve their customers. A part of wholesale incomes is generated by some large telecommunications companies, most of whom are considered as the company’s direct competitors. Services included under this category are:
In 2021, revenues from this segment contributed about 8.76% of the company’s total revenues. Revenue from the public sector and others decreased from $3.06 billion earned in 2020 to $2.72 billion earned in 2021, marking a decline of about 11.11% on a year-on-year basis.
About the company
Verizon Communications Inc. is a holding company that is one of the world’s foremost suppliers of communications, information, technology as well as entertainment goods and services to individuals, companies, and government entities. Founded in 1983, the company’s headquarter is located in New York, the U.S. With a global footprint, they provide data, video, and phone services and solutions on their networks and platforms, all of which are intended to fulfill customers’ demands for mobility, network reliability, security, and control. The company operates through its two reportable segments namely Verizon Consumer Group (Consumer) and Verizon Business Group (Business). On September 1, 2021, the company sold its Verizon Media Group (Verizon Media) to a companion of Apollo Global Management Inc. The common stock of the company is traded on New York and NASDAQ stock exchanges under the ticker symbol “VZ”.
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