Slide 1: 2Q 2024 Earnings
2Q 2024 Earnings July 22, 2024 V
Slide 2: Non-GAAP reconciliation notice
As required by SEC rules, we have provided a reconciliation of the non-GAAP financial measures included in this presentation to the most directly comparable GAAP measures in materials on our website at www.verizon.com/about/investors 2
Slide 3: Strong momentum across the business in 2Q24
Strong momentum across the business in 2Q24 Wireless Service Revenue ($B)1 Adjusted EBITDA ($B)2 Free Cash Flow ($B)2 3.5% 2.8% 3.0% 1 Sum of Consumer and Business segments. 2 Non-GAAP measure. Delivered year-over-year growth on key financial metrics - on track to deliver 2024 guidance 3
Slide 4: Strong operational execution
Strong operational execution Postpaid Phone Net Adds (K) Prepaid Net Adds Broadband Net Adds (K) excluding SafeLink (K) (27) 140 305 8 (12) 2Q 23 2Q 24 2Q 23 2Q 24 2Q 23 2Q 24 Note: Where applicable, the operating results reflect certain adjustments. Continued mobility improvements driven by segment
Slide 5: Operating metrics
Operating metrics Consumer Business retail postpaid phone net adds (K) retail postpaid phone net adds (K) 2.5M Wireless retail postpaid phone gross adds (up 9.3% Y/Y) 1.8M Consumer wireless retail postpaid phone gross adds (up 12.0% Y/Y) Broadband net adds (K) Prepaid net adds, excluding Safelink (K
Slide 6: Consolidated financial summary
Consolidated financial summary Total revenue ($B) Total Wireless service revenue ($B)2 $32.8B Total revenue 0.6% (up 0.6% Y/Y) $12.3B Adjusted EBITDA1 3.5% (up 2.8% Y/Y) (Adjusted EBITDA margin of 37.5%)1 $1.15 Adjusted EPS1 (down 5.0% Y/Y) 1 Non-GAAP measure. 2 Sum of Consumer and Business segments
Slide 7: Consolidated cash flow summary
Consolidated cash flow summary ($ in billions) 1H 2023 1H 2024 Cash flow from operations $18.0 $16.6 Capital expenditures $10.1 $8.1 Free cash flow1 $8.0 $8.5 Dividends paid $5.5 $5.6 Total debt $152.7 $149.3 Unsecured debt $131.4 $125.3 Cash and cash equivalents $4.8 $2.4 Net unsecured debt1 $126.6
Slide 8: Looking ahead to 2H2024
Looking ahead to 2H2024 Grow wireless service revenue, expand Adjusted EBITDA and generate strong free cash flow Continue to deploy C-band, and scale broadband and private networks while driving mobility growth Focus on operational excellence, customer experience and financial discipline Execute on
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