Verizon posted Q1 adjusted EPS of $1.28, up 7.6% year-over-year, beating the $1.21 consensus while total operating revenue rose 2.9% to $34.4 billion. Consolidated adjusted EBITDA reached a record $13.4 billion, free cash flow grew 4% to $3.8 billion, and the company raised full-year adjusted EPS growth guidance to 5–6% from 4–5%, supported by $2.5 billion in share repurchases.

The company added 55,000 postpaid phone subscribers in Q1, its first positive phone net additions since 2013, and delivered 341,000 broadband net additions—including 214,000 fixed wireless access and 127,000 fiber connections—bringing total broadband connections to approximately 16.8 million. Postpaid phone net additions guidance was raised to the upper half of the 750,000–1,000,000 range for the full year.

Verizon launched a company-wide transformation across 10 workstreams to become AI-native, cutting customer acquisition and retention costs by roughly 35% versus Q4. Integration of Frontier Communications accelerated broadband growth with converged services showing 30% lower churn, and the company targets $5 billion in operating expense savings in 2026 and over 32 million fiber passings by year-end.