Wireless services account for nearly 75% of Verizon Communications' total service revenue and nearly all of its operating income. The firm serves about 93 million postpaid and 20 million prepaid phone customers via its nationwide network, making it the largest US wireless carrier. Fixed-line telecom operations include local networks in the Northeast, which reach about 30 million homes and businesses, including about 20 million with the Fios fiber optic network. These networks serve about 8 million broadband customers. Verizon also provides telecom services nationwide to enterprise customers, often using a mixture of its own and other carriers' networks. Verizon agreed to acquire Frontier Communications in September 2024.

Verizon faces backlash as 1.5 million customer complaints flood in, with 3.5 million people left without cell service on their network. The company also experiences an outage, prompting customers to consider switching to T-Mobile. Some investors are opening short positions on Verizon stock in response to the negative news.