Verizon reported adjusted earnings per share of $1.09 for Q4 2025, topping consensus estimates of $1.06, driven by stronger wireless and broadband performance. Total operating revenue reached $36.4 billion, surpassing forecasts of $36.1 billion. Wireless service revenue rose 1.1% year-over-year to $21.0 billion, while equipment revenue climbed 9.1% to $8.2 billion. The results marked Verizon’s highest quarterly mobility and broadband volumes since 2019, supporting a 9% intraday share jump on the day of the release and reinforcing investor confidence in the company’s turnaround strategy.

Verizon added 616,000 postpaid phone net subscribers in the quarter, up from 504,000 in Q4 2024, marking its best postpaid performance since 2019. Broadband net additions totaled 372,000, including 319,000 fixed wireless access and 67,000 Fios internet customers. The closing of the Frontier acquisition on January 20 expanded Verizon’s fiber footprint to over 30 million homes and businesses, contributing to the 16.3 million total fixed wireless access and fiber broadband connections under management at year-end.

Verizon projected 2026 adjusted EPS of $4.90–$4.95, above Wall Street’s consensus of $4.76, reflecting 4–5% year-over-year growth. The company expects total retail postpaid phone net additions of 750,000–1 million and service revenue growth of 2–3%, targeting roughly $93 billion. Capex is forecast at $16.0–$16.5 billion, including at least 2 million fiber passings, while free cash flow is slated to exceed $21.5 billion—a 7% increase that would mark the highest level since 2020 and support ongoing dividend payouts and potential share repurchases.