In Q1'26, Verizon's (VZ) total operating expenses stood at $7.63B, entirely attributable to SG&A expenses, as R&D expenses remained at $0, consistent with historical patterns across the analyzed period. From Q2'23 to Q1'26, SG&A expenses exhibited moderate volatility with an overall downward trend, fluctuating between a low of $7.63B in Q1'26 and a high of $10.38B in Q4'25, while R&D expenses showed no activity throughout, indicating a stable but non-existent investment in research and development; the stacked bar chart highlights SG&A as the dominant component of operating expenses, with no significant inflection points beyond quarterly variations averaging around $8.3B.