Verizon reported adjusted earnings per share of $1.09 for the quarter ended December 2025, surpassing consensus estimates of $1.06, while revenue reached $36.4 billion versus expectations of $36.1 billion. The company achieved its highest quarterly total mobility and broadband volumes since 2019, adding 616,000 postpaid phones, 319,000 fixed wireless access lines and 67,000 Fios internet connections, for a total of 372,000 broadband net additions. Wireless service revenue rose 1.1% year over year to $21.0 billion, and equipment revenue climbed 9.1% to $8.2 billion, underscoring renewed consumer demand and effective network investments.

Management projected free cash flow of at least $21.5 billion in 2026, up roughly 7% from 2025’s $20.1 billion, marking the highest level since 2020. Capital expenditures are guided to $16.0–16.5 billion, including a fiber build pace of at least 2 million passings. Adjusted earnings per share are expected to grow 4–5% to a range of $4.90–4.95, while total mobility and broadband service revenue should advance 2–3% to approximately $93 billion. The board maintained a quarterly dividend of $0.69 per share, reflecting a yield near 6.9% and coverage close to 59% of trailing earnings.

Verizon delivered more than one million combined mobility and broadband net additions in Q4 2025, its strongest quarterly intake since 2019, following the January 20 closing of the Frontier acquisition, which expanded fiber access to over 30 million homes and businesses. Total retail postpaid phone net additions are expected to reach 750,000–1 million in 2026, two to three times last year’s result. The strengthened fiber footprint and modernized MVNO agreements with major cable partners position the company to capture incremental volume and margin expansion over the next several years.