Verizon reported adjusted fourth-quarter earnings per share of $1.09, topping consensus estimates by three cents, and generated operating revenue of $36.4 billion, surpassing forecasts by $300 million. The company achieved its highest quarterly total mobility and broadband volumes since 2019, with 616,000 postpaid phone net additions—up 22% year-over-year—and 372,000 broadband subscriber gains, including 319,000 fixed wireless access and 67,000 Fios internet connections. Wireless service revenue rose 1.1% to $21.0 billion, while equipment revenue climbed 9.1% to $8.2 billion, underscoring renewed customer engagement and upsell success across its network and device offerings.

Management raised its 2026 guidance to reflect accelerating cash flow and subscriber growth. Verizon now expects adjusted EPS between $4.90 and $4.95—well above the prior consensus of $4.76—and projects total retail postpaid phone net additions of 750,000 to 1.0 million, roughly 2–3 times the 2025 result. Service revenue from mobility and broadband is forecast to grow 2.0% to 3.0%, equating to approximately $93 billion, while cash flow from operations is pegged at $37.5 billion to $38.0 billion. Critically, free cash flow is set to exceed $21.5 billion, marking the highest level since 2020 and providing ample liquidity for dividends and debt reduction.

Verizon’s January closing of the Frontier acquisition expanded its fiber footprint to serve over 30 million homes and businesses, accelerating its mobility–broadband convergence strategy. The company is executing at least 2 million fiber passings in 2026, supported by $16.0 billion to $16.5 billion in capital expenditures. Additionally, enhancements to winter storm resilience—deploying mobile cell sites, backup power assets and crisis teams—demonstrate proactive network readiness that bolsters customer trust. With a net debt to adjusted EBITDA ratio near 2.2x, Verizon maintains a balanced capital structure that underpins disciplined investments while preserving shareholder returns.