As of Q4'25, Verizon's latest reported operating income stands at USD 5B, marking a significant decrease from the previous quarter's USD 8.1B. The year-over-year (YoY) change for this quarter is -32.6%, indicating a sharp decline compared to Q4'24. Analyzing the period from Q1'23 to Q4'25, Verizon's operating income has exhibited considerable volatility, with notable troughs in Q4'23 (USD 600M) and Q4'25 (USD 5B), and peaks in Q2'25 (USD 8.2B). The YoY growth rate fluctuated widely, including a dramatic spike to 1,137% in Q4'24 following the Q4'23 low, before reverting to negative territory in Q4'25. Overall, the trend suggests periods of recovery interspersed with sharp declines, reflecting instability in operational performance over the observed quarters.