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Verizon Communications vs Warner Bros. Discovery: revenue, profit, margins and growth compared

Verizon Communications brought in $138.2B of revenue in fiscal 2025, Warner Bros. Discovery $37.3B in fiscal 2025. Revenue changed by +2.5% at Verizon Communications and -5.1% at Warner Bros. Discovery on the year before, so Verizon Communications grew faster. Verizon Communications kept 12.4% of its revenue as net profit, Warner Bros. Discovery 1.9%.

Side by side, latest fiscal year

VZWBD
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$138.2B$37.3B
Revenue growth+2.5%-5.1%
Net income$17.2B$727M
Net margin12.4%1.9%
Free cash flown/a$3.1B
Free cash flow marginn/a8.3%
Earnings per share (diluted)$4.06$0.29
Cash$19B$4.6B
Debt$18.6B$32.6B
Price to earnings11.6106.4
Market value$195.6B$77.5B
Dividend yield5.81%n/a
Rank by revenue in sector#1 of 51 · Telecommunications#7 of 51 · Telecommunications

Over the years

Revenue
VZ FY2018: $130.9BVZ FY2019: $131.9BVZ FY2020: $128.3BVZ FY2021: $133.6BVZ FY2022: $136.8BVZ FY2023: $134BVZ FY2024: $134.8BVZ FY2025: $138.2BWBD FY2018: $10.6BWBD FY2019: $11.1BWBD FY2020: $10.7BWBD FY2021: $12.2BWBD FY2022: $33.8BWBD FY2023: $41.3BWBD FY2024: $39.3BWBD FY2025: $37.3BFY18FY19FY20FY21FY22FY23FY24FY25
VZ $138.2BWBD $37.3B
Net income
VZ FY2018: $15.5BVZ FY2019: $19.3BVZ FY2020: $17.8BVZ FY2021: $22.1BVZ FY2022: $21.3BVZ FY2023: $11.6BVZ FY2024: $17.5BVZ FY2025: $17.2BWBD FY2018: $594MWBD FY2019: $2.1BWBD FY2020: $1.2BWBD FY2021: $1BWBD FY2022: -$7.4BWBD FY2023: -$3.1BWBD FY2024: -$11.3BWBD FY2025: $727MFY18FY19FY20FY21FY22FY23FY24FY25
VZ $17.2BWBD $727M
Net margin
VZ FY2018: 11.9%VZ FY2019: 14.6%VZ FY2020: 13.9%VZ FY2021: 16.5%VZ FY2022: 15.5%VZ FY2023: 8.7%VZ FY2024: 13.0%VZ FY2025: 12.4%WBD FY2018: 5.6%WBD FY2019: 18.6%WBD FY2020: 11.4%WBD FY2021: 8.3%WBD FY2022: -21.8%WBD FY2023: -7.6%WBD FY2024: -28.8%WBD FY2025: 1.9%FY18FY19FY20FY21FY22FY23FY24FY25
VZ 12.4%WBD 1.9%
Revenue growth
VZ FY2019: +0.8%VZ FY2020: -2.7%VZ FY2021: +4.1%VZ FY2022: +2.4%VZ FY2023: -2.1%VZ FY2024: +0.6%VZ FY2025: +2.5%WBD FY2019: +5.6%WBD FY2020: -4.2%WBD FY2021: +14.2%WBD FY2022: +177.4%WBD FY2023: +22.2%WBD FY2024: -4.8%WBD FY2025: -5.1%FY19FY20FY21FY22FY23FY24FY25
VZ +2.5%WBD -5.1%
Free cash flow
VZ FY2018: $17.7BWBD FY2018: $2.4BWBD FY2019: $3.1BWBD FY2020: $2.3BWBD FY2021: $2.4BWBD FY2022: $3.3BWBD FY2023: $6.2BWBD FY2024: $4.4BWBD FY2025: $3.1BFY18FY19FY20FY21FY22FY23FY24FY25
VZ $17.7BWBD $3.1B

Fiscal years as each company reports them; the two may end in different months.

Questions about Verizon Communications and Warner Bros. Discovery

Which is bigger by revenue, Verizon Communications or Warner Bros. Discovery?

Verizon Communications is bigger by revenue: $138.2B in fiscal 2025, against $37.3B for Warner Bros. Discovery in fiscal 2025.

Which keeps more of its revenue as profit, Verizon Communications or Warner Bros. Discovery?

Verizon Communications had a net margin of 12.4% in fiscal 2025; Warner Bros. Discovery had 1.9% in fiscal 2025.

Which grew revenue faster, Verizon Communications or Warner Bros. Discovery?

In their latest fiscal years revenue changed by +2.5% at Verizon Communications and -5.1% at Warner Bros. Discovery.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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