Verizon’s consumer division chief, Sowmyanarayan Sampath, has announced his departure as part of the company’s broader turnaround effort under new CEO Dan Schulman. Sampath led the unit responsible for nearly 70% of the carrier’s total service revenue, overseeing key initiatives in wireless and broadband customer acquisition. His exit follows Schulman’s appointment six months ago, signaling a shift toward more aggressive cost optimization and organizational realignment designed to bolster profitability and streamline operations.

In its latest quarterly report, Verizon delivered a double beat on revenue and earnings, marking its third consecutive quarter of top-line growth. Total service revenue rose 2.5% year-over-year, driven by a net addition of 350,000 postpaid wireless subscribers and a 4% increase in average revenue per user. Operating expenses declined by 3.2%, reflecting early savings from network consolidation and vendor renegotiations. The company’s free cash flow reached $7.8 billion, up 12% from the prior year period, providing ample liquidity to support strategic investments and shareholder returns.

Looking ahead to 2026, Verizon’s management projects EPS growth of 4–5% and free cash flow growth of 7%, underpinned by continued subscriber momentum and disciplined capital allocation. The board has approved a $25 billion share buyback program to run through next year, complementing an annual dividend increase that has outpaced inflation for six consecutive years. Following the earnings release, Verizon’s stock jumped approximately 3%, reflecting investor confidence in its defensive cash flows and the sustainability of its dividend policy.