Verizon Posts 1.1M Q4 Subscriber Gain, Guides 4–5% EPS Growth
Verizon added 1.1 million net new subscribers in Q4 2025 and expanded fiber coverage to 30 million homes, its highest quarterly subscriber gain since 2019. Annual revenue rose 2.5% to $138.2 billion with 0.5% growth in operating cash flow and guidance for 2–3% revenue and 4–5% EPS gains in 2026.
1. Q4 Subscriber Growth
Verizon reported a net addition of 1.1 million subscribers in Q4 2025, marking its strongest quarterly gain since 2019. The company also extended its fiber network to cover 30 million homes, bolstering its fixed-line broadband proposition.
2. Annual Financial Metrics
Full-year revenue climbed 2.5% to $138.2 billion, driven by robust service uptake. Operating cash flow increased 0.5% to $37.1 billion, while free cash flow to the firm rose 1.5% to $20.1 billion.
3. 2026 Guidance
Management outlined 2026 targets of 2–3% revenue growth, 4–5% adjusted EPS growth and a 7% rise in free cash flow to the firm. These projections reflect continued investment discipline and efficiency improvements.
4. Analyst Revisions
Wells Fargo raised its target price by $3 to $44, citing subscriber momentum and $5 billion in CapEx savings. Morgan Stanley lifted its target by $2 to $49, reflecting higher free cash flow forecasts, with the median analyst target at $47.