Verizon is one of the largest U.S. telecommunications companies, primarily selling wireless connectivity services to consumers and businesses. Its core product is postpaid wireless service — subscribers pay a monthly fee for access to Verizon's cellular network on smartphones and connected devices. Verizon also sells residential broadband via its fiber-optic Fios network and through Fixed Wireless Access (FWA), which delivers home internet over 4G LTE and 5G networks. Verizon operates two segments: Consumer (~77% of revenue), which had about 116 million wireless retail connections, and Business (~21% of revenue), which serves enterprises, government, and small businesses. Revenue is dominated by recurring monthly wireless service fees, driven by subscriber count and average revenue per account (ARPA). Broadband is a growing secondary driver; FWA is economically attractive because it leverages existing 5G capacity at low marginal cost. Verizon's profitability is highly leveraged to its largely fixed network cost base — as volumes grow, margins expand. A key strategic priority is convergence: bundling wireless and broadband to the same customer, which reduces churn to roughly 40% the rate of standalone wireless customers. Verizon acquired Frontier in January 2026, expanding its fiber footprint to over 30 million passings across 31 states and creating a cross-sell opportunity in markets where Verizon is underpenetrated with wireless customers.