Jun 2026 (Q2 FY26) — Jul 24, 2026
Verizon Q2 FY26 — Strong Operational Momentum Drives Raised Guidance and AI Infrastructure Opportunity
Read the full callVerizon (VZ) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
US telecom operator providing wireless mobility (postpaid/prepaid phone) and broadband (fixed wireless access + fiber) services, expanding via the Frontier Communications acquisition.
Verizon earnings: last reported Fri, 24 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 34,253 | −0.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 21.0 | −2.7 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 3,835 | −23.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
16 of 23 judged targets kept · 20 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| New consumer value proposition launch | launch the new consumer value proposition in the first half of 2026 | Dec 2025 | Our new consumer value proposition launched in mid-June and it is delivering well beyond our expectations across every metric. | Achieved |
| Promotion amortization headwind peak | promo amortization headwinds peak in 2025 | Dec 2024 | we are confident that the headwinds from promo amortization have peaked and that these pressures will ease across the second half of the year and into 2027. | Missed |
| Full-year adjusted EPS growth | $4.90 to $4.95, or 4% to 5% growth | Dec 2025 | we are raising our adjusted EPS guidance to 6% to 7% growth for the year. | Revised Up |
7 of VERIZON COMMUNICATIONS INC's 43 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 40 more targets are in the full ledger.
Claimed
- Delivered 184,000 postpaid phone net adds, a 193,000 increase YoY and the best consumer Q2 postpaid phone net adds in 5 years.
- Achieved 348,000 broadband net additions, continuing share taking momentum.
- Mobility and broadband service revenue grew by 2.8% YoY, up from 1.6% in Q1, with Q4 expected to grow approximately 4% YoY.
- Adjusted EPS grew by 6.6% YoY to $1.30, leading to raised full-year guidance of 6% to 7% growth.
- Generated $6.4 billion in free cash flow, up 24% YoY, and raised full-year guidance to 9% to 10% growth.
Qualified
- Wireless service revenue declined 0.7% YoY to $20.8 billion in Q2 FY26.
- Total revenue for Q2 FY26 was $34.3 billion, down 0.7% YoY.
- Equipment revenue was down nearly 20% or over $1.2 billion YoY due to significantly lower upgrade volumes.
Price
$44.15 −1.43% · −$0.64
Performance +8.9% 1Y
1Y: $40.55 on 17 Oct 2025 → $44.15. High $51.45 (15 Sept 2026), low $38.4 (23 Oct 2025).
- Previous close
- $44.79
- 52-week range
- $38.4 – $51.45
- One year
- +8.21%
Overview
- Symbol
- VZ
- Sector
- Communication Services
- Exchange
- US
- Currency
- USD
What Verizon does
Based on the company's own presentations, annual report and earnings calls.
Verizon Communications provides wireless mobility services, including postpaid phone plans, and broadband internet access delivered through fixed wireless access (FWA) and fiber-optic connections. It earns recurring service revenue from these subscriptions and is pushing converged offers that bundle mobility and broadband together. The company is expanding its fiber network footprint and integrating Frontier Communications' broadband/fiber assets following that acquisition.
Segments
- Mobility
- Broadband
- Postpaid phone net adds
- 55,000 (Q1 FY26)
- Broadband net adds
- 341,000 (Q1 FY26): 214,000 fixed wireless access + 127,000 fiber
- Fiber network passings
- on track for 32 million+ by year-end FY26
- Frontier Communications integration
- in progress, expanding broadband/fiber network footprint
- AI technology partners
- Google, Anthropic
Guidance
What management said, and what became of it
16 of 23 judged targets kept · 20 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| New consumer value proposition launch | launch the new consumer value proposition in the first half of 2026 | Dec 2025 | Our new consumer value proposition launched in mid-June and it is delivering well beyond our expectations across every metric. | Achieved |
| Promotion amortization headwind peak | promo amortization headwinds peak in 2025 | Dec 2024 | we are confident that the headwinds from promo amortization have peaked and that these pressures will ease across the second half of the year and into 2027. | Missed |
| Full-year adjusted EPS growth | $4.90 to $4.95, or 4% to 5% growth | Dec 2025 | we are raising our adjusted EPS guidance to 6% to 7% growth for the year. | Revised Up |
Claimed
- Delivered 184,000 postpaid phone net adds, a 193,000 increase YoY and the best consumer Q2 postpaid phone net adds in 5 years.
- Achieved 348,000 broadband net additions, continuing share taking momentum.
- Mobility and broadband service revenue grew by 2.8% YoY, up from 1.6% in Q1, with Q4 expected to grow approximately 4% YoY.
- Adjusted EPS grew by 6.6% YoY to $1.30, leading to raised full-year guidance of 6% to 7% growth.
- Generated $6.4 billion in free cash flow, up 24% YoY, and raised full-year guidance to 9% to 10% growth.
Qualified
- Wireless service revenue declined 0.7% YoY to $20.8 billion in Q2 FY26.
- Total revenue for Q2 FY26 was $34.3 billion, down 0.7% YoY.
- Equipment revenue was down nearly 20% or over $1.2 billion YoY due to significantly lower upgrade volumes.
The full ledger
Open VERIZON COMMUNICATIONS INC’s full ledger
A free account opens 5 company ledgers a month. All 43 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 27, 2026
Verizon Q1 FY26 — Strong Momentum with Postpaid Phone Net Adds and Raised EPS Outlook
Read the full callDec 2025 (Q4 FY25) — Jan 30, 2026
Verizon Q4 FY25 — Strong Net Adds and Turnaround Strategy Underway
Read the full callEvery analysed call
Verizon earnings calls (VZ)
Financials
What the filings say
Net profit, year on year: −23% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 33,330 | 35,681 | 33,485 | 34,504 | 33,821 | 36,381 | 34,440 | 34,253 |
| Expenses | 27,404 | 28,260 | 25,507 | 26,332 | 25,716 | 31,377 | 26,198 | 27,074 |
| Operating profit | 5,926 | 7,421 | 7,978 | 8,172 | 8,105 | 5,004 | 8,242 | 7,179 |
| Operating margin | 17.8% | 20.8% | 23.8% | 23.7% | 24.0% | 13.8% | 23.9% | 21.0% |
| Interest | 1,672 | 1,644 | 1,632 | 1,639 | 1,664 | 1,759 | 1,940 | 1,985 |
| Profit before tax | 4,302 | 6,568 | 6,473 | 6,609 | 6,527 | 3,063 | 6,784 | 5,274 |
| Tax rate | 20.7% | 22.1% | 23.0% | 22.5% | 22.5% | 20.1% | 24.1% | 25.1% |
| Net profit | 3,306 | 5,005 | 4,879 | 5,003 | 4,950 | 2,342 | 5,045 | 3,835 |
| EPS ($ per share) | 0.78 | — | 1.16 | 1.18 | 1.17 | — | 1.20 | 0.92 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 429 | 429 | 429 | 429 | 429 | — | — | — |
| Reserves | 43,542 | 53,147 | 60,464 | 71,993 | 82,380 | 82,915 | 89,110 | 94,744 |
| Total liabilities | 210,119 | 228,892 | 247,209 | 283,396 | 287,217 | 286,456 | 284,136 | 298,517 |
| Fixed assets | 89,286 | 91,915 | 94,833 | 99,696 | 107,434 | 108,310 | 108,522 | 109,467 |
| Total assets | 264,829 | 291,727 | 316,481 | 366,596 | 379,680 | 380,255 | 384,711 | 404,258 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 34,339 | 35,746 | 41,768 | 39,539 | 37,141 | 37,475 | 36,912 | 37,137 |
| Cash from investing | -17,934 | -17,581 | -23,512 | -67,153 | -28,662 | -23,432 | -18,674 | -16,660 |
| Cash from financing | -15,377 | -18,164 | 1,325 | 8,277 | -8,529 | -14,657 | -17,100 | -5,613 |
| Net cash flow | 1,028 | 1 | 19,581 | -19,337 | -50 | -614 | 1,138 | 14,864 |
| Capital expenditure | -16,658 | — | — | — | — | — | — | — |
| Free cash flow | 17,681 | — | — | — | — | — | — | — |
VZ revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Verizon Consumer Group | 76% | 77% | 76% | 77% | 77% | 78% | 77% | 76% | -1.5% |
| Verizon Business Group | 22% | 21% | 22% | 21% | 21% | 20% | 22% | 21% | -1.7% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
VZ operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Paid subscriber net additions Prepaid | 137KOur prepaid net adds of 137,000 were the best since the TracFone acquisition and represent a significant year-over-year improvement.Source: earnings call transcript | 50KCore prepaid net additions were $50,000 for the quarter an improvement of $62,000 from the prior year period.Source: earnings call transcript | 47KMoving to core prepaid, we delivered 47,000 net adds, our fifth consecutive quarter of positive subscriber growth.Source: earnings call transcript | 109KFourth quarter net adds were 109,000, our sixth consecutive quarter of positive customer growth.Source: earnings call transcript | 115KWe delivered 115,000 net adds, driven by our visible and total wireless brands, demonstrating the continuing strength of our prepaid business and our segmentation approach.Source: earnings call transcript | 73KPrepaid net adds were 73,000, our eighth consecutive quarter of positive net adds.Source: earnings call transcript | -36.5% |
| Paid subscriber net additions Broadband | 339KIn broadband, we continue to take share and grew our subscriber base with our dual fixed wireless access and fiber strategy, adding 339,000 subscribers in the quarter.Source: earnings call transcript | — | — | 372KFourth quarter net adds were 372,000, our highest of the year, reflecting strong customer demand across both fixed wireless access and fiber.Source: earnings call transcript | 341KWe continue to take share in the first quarter and delivered 341,000 broadband net adds.Source: earnings call transcript | 348KIn addition, we added 348,000 broadband net additions, continuing the share taking momentum we have built over the last several quarters.Source: earnings call transcript | +2.1% |
| Postpaid phone net additions Consumer | — | -51KConsumer postpaid phone net losses totaled $51,000 for the second quarter compared to 109,000 net losses in the prior year period as we benefited from strong gross adds.Source: earnings call transcript | -7,000However, gross add growth was offset by churn of 0.91%, which resulted in postpaid phone net losses of 7,000 in the quarter.Source: earnings call transcript | 551KImportantly, we added 616,000 postpaid phone net adds with 551,000 from consumer, our highest postpaid phone net adds in the last 5 years, all while delivering on our 2025 financial guidance.Source: earnings call transcript | — | — | — |
| Postpaid phone net additions Verizon Business | 67KVerizon Business delivered 67,000 phone net adds, down from 80,000 net adds in the prior year period.Source: earnings call transcript | 42KVerizon Business delivered 42,000 phone net adds in the second quarter compared with 135,000 net adds in the prior year period.Source: earnings call transcript | 51KVerizon business delivered 51,000 phone net adds.Source: earnings call transcript | — | — | — | +21.4% |
| Fixed wireless access net additions | — | 278KIn fixed waterless access, we delivered 278,000 net adds for the quarter, growing the base to more than 5.1 million subscribers.Source: earnings call transcript | 261KFixed Wireless Access net adds were 261,000 for the quarter.Source: earnings call transcript | 319KFixed wireless access net adds were 319,000.Source: earnings call transcript | 214KThis includes 214,000 fixed wireless access net adds and 127,000 fiber net adds.Source: earnings call transcript | 193KFixed wireless access and fiber delivered net adds of 193,000 and 155,000, respectively, demonstrating our continued success in capturing our broadband opportunity with both technologies.Source: earnings call transcript | -9.8% |
| Fios internet net additions | 45KFios Internet net adds for the first quarter were 45,000 versus 53,000 in the prior year period.Source: earnings call transcript | 32KFios Internet net adds for the second quarter were 32,000 versus 28,000 in the prior year period.Source: earnings call transcript | 61KFios internet delivered 61,000 net adds, our best quarterly result in 2 years.Source: earnings call transcript | 67KFios Internet delivered 67,000 net adds, our highest fourth quarter net additions since 2020.Source: earnings call transcript | — | — | +9.8% |
| Postpaid phone net additions | — | — | — | 616KImportantly, we added 616,000 postpaid phone net adds with 551,000 from consumer, our highest postpaid phone net adds in the last 5 years, all while delivering on our 2025 financial guidance.Source: earnings call transcript | 55KWe added 55,000 postpaid phone net adds in the quarter.Source: earnings call transcript | 184KIn the quarter, we delivered 184,000 postpaid phone net adds, a meaningful step-up from Q1 and an increase of 193,000 from last year.Source: earnings call transcript | +234.5% |
| Paid subscribers Fixed wireless access | — | 5.1M+In fixed waterless access, we delivered 278,000 net adds for the quarter, growing the base to more than 5.1 million subscribers.Source: earnings call transcript | ~5.4MWith approximately 5.4 million FWA subscribers, our annualized revenue has surpassed $3 billion and continues to grow.Source: earnings call transcript | — | — | — | — |
| Paid subscribers Broadband | — | — | 13.2M+Our broadband base is up 1.3 million subscribers from a year ago and is now over 13.2 million subscribers.Source: earnings call transcript | — | ~16.8MWe now have approximately 16.8 million broadband subscribers.Source: earnings call transcript | 17.1M+Notably, we now have over 17.1 million total broadband subscribers in our base.Source: earnings call transcript | — |
| Fiber net additions | — | — | — | — | 127KThis includes 214,000 fixed wireless access net adds and 127,000 fiber net adds.Source: earnings call transcript | 155KFixed wireless access and fiber delivered net adds of 193,000 and 155,000, respectively, demonstrating our continued success in capturing our broadband opportunity with both technologies.Source: earnings call transcript | +22% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
71 filings between Feb 2, 2026 and Oct 13, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$15.99M
15 sales by 5 insiders
67% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 7
- Award — granted as compensation
- 21
- Option exercise — converted options into shares
- 28
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Vestberg Hans Erik | — | $11.16M | Feb 24, 2026 |
| Hammock Samantha | — | $3.50M | May 29, 2026 |
| Malady Kyle | — | $476.5K | Oct 13, 2026 |
| Russo Joseph J. | — | $429.9K | Feb 2, 2026 |
| Stillwell Mary-Lee | — | $428.4K | Mar 2, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 13, 2026 | Malady Kyle EVP and Group CEO-VZ Business | Sale 10b5-1 plan | 1,100 | $47.2K |
| Oct 6, 2026 | Malady Kyle EVP and Group CEO-VZ Business | Sale 10b5-1 plan | 1,100 | $50.3K |
| Sep 29, 2026 | Malady Kyle EVP and Group CEO-VZ Business | Sale 10b5-1 plan | 1,100 | $51.0K |
| Sep 22, 2026 | Malady Kyle EVP and Group CEO-VZ Business | Sale 10b5-1 plan | 1,100 | $52.4K |
| Sep 15, 2026 | Malady Kyle EVP and Group CEO-VZ Business | Sale 10b5-1 plan | 1,100 | $56.3K |
| Sep 8, 2026 | Malady Kyle EVP and Group CEO-VZ Business | Sale 10b5-1 plan | 1,100 | $55.0K |
| Sep 1, 2026 | Malady Kyle EVP and Group CEO-VZ Business | Sale 10b5-1 plan | 1,100 | $55.5K |
| Aug 25, 2026 | Malady Kyle EVP and Group CEO-VZ Business | Sale 10b5-1 plan | 1,100 | $55.1K |
| Aug 18, 2026 | Malady Kyle EVP and Group CEO-VZ Business | Sale 10b5-1 plan | 1,100 | $53.5K |
| May 29, 2026 | Hammock Samantha EVP & Chief HR Officer | Sale | 73,069 | $3.50M |
| Mar 2, 2026 | Stillwell Mary-Lee SVP and Controller | Sale 10b5-1 plan | 8,569 | $428.4K |
| Feb 27, 2026 | Vestberg Hans Erik Director | Tax withheld | 30,298 | $1.52M |
| Feb 27, 2026 | Skiadas Anthony T EVP and CFO | Option exercise | 32,104 | — |
| Feb 27, 2026 | Vestberg Hans Erik Director | Option exercise | 66,276 | — |
| Feb 27, 2026 | Vestberg Hans Erik Director | Option exercise | 54,764 | — |
| Feb 27, 2026 | Skiadas Anthony T EVP and CFO | Tax withheld | 17,683 | $886.6K |
| Feb 27, 2026 | Malady Kyle EVP and Group CEO-VZ Business | Tax withheld | 16,602 | $832.4K |
| Feb 27, 2026 | Vestberg Hans Erik Director | Tax withheld | 34,114 | $1.71M |
| Feb 27, 2026 | Russo Joseph J. EVP&Pres-Global Networks&Tech | Tax withheld | 7,833 | $392.7K |
| Feb 27, 2026 | Skiadas Anthony T EVP and CFO | Tax withheld | 15,745 | $789.5K |
| Feb 27, 2026 | Stillwell Mary-Lee SVP and Controller | Tax withheld | 3,907 | $195.9K |
| Feb 27, 2026 | Vestberg Hans Erik Director | Option exercise | 61,661 | — |
| Feb 27, 2026 | Venkatesh Vandana EVP and Chief Legal Officer | Tax withheld | 8,747 | $438.6K |
| Feb 27, 2026 | Malady Kyle EVP and Group CEO-VZ Business | Option exercise | 34,936 | — |
| Feb 27, 2026 | Malady Kyle EVP and Group CEO-VZ Business | Tax withheld | 17,049 | $854.8K |
| Feb 27, 2026 | Malady Kyle EVP and Group CEO-VZ Business | Option exercise | 31,331 | — |
| Feb 27, 2026 | Malady Kyle EVP and Group CEO-VZ Business | Tax withheld | 17,057 | $855.2K |
| Feb 27, 2026 | Hammock Samantha EVP & Chief HR Officer | Option exercise | 17,011 | — |
| Feb 27, 2026 | Hammock Samantha EVP & Chief HR Officer | Tax withheld | 8,702 | $436.3K |
| Feb 27, 2026 | Hammock Samantha EVP & Chief HR Officer | Option exercise | 16,051 | — |
| Feb 27, 2026 | Stillwell Mary-Lee SVP and Controller | Option exercise | 8,998 | — |
| Feb 27, 2026 | Skiadas Anthony T EVP and CFO | Option exercise | 36,234 | — |
| Feb 27, 2026 | Stillwell Mary-Lee SVP and Controller | Tax withheld | 4,306 | $215.9K |
| Feb 27, 2026 | Venkatesh Vandana EVP and Chief Legal Officer | Option exercise | 16,997 | — |
| Feb 27, 2026 | Venkatesh Vandana EVP and Chief Legal Officer | Tax withheld | 7,264 | $364.2K |
| Feb 27, 2026 | Stillwell Mary-Lee SVP and Controller | Tax withheld | 3,880 | $194.5K |
| Feb 27, 2026 | Venkatesh Vandana EVP and Chief Legal Officer | Tax withheld | 8,295 | $415.9K |
| Feb 27, 2026 | Venkatesh Vandana EVP and Chief Legal Officer | Option exercise | 16,067 | — |
| Feb 27, 2026 | Skiadas Anthony T EVP and CFO | Option exercise | 28,921 | — |
| Feb 27, 2026 | Russo Joseph J. EVP&Pres-Global Networks&Tech | Option exercise | 19,003 | — |
| Feb 27, 2026 | Russo Joseph J. EVP&Pres-Global Networks&Tech | Tax withheld | 9,275 | $465.0K |
| Feb 27, 2026 | Russo Joseph J. EVP&Pres-Global Networks&Tech | Option exercise | 16,051 | — |
| Feb 27, 2026 | Venkatesh Vandana EVP and Chief Legal Officer | Option exercise | 14,884 | — |
| Feb 27, 2026 | Russo Joseph J. EVP&Pres-Global Networks&Tech | Option exercise | 13,657 | — |
| Feb 27, 2026 | Russo Joseph J. EVP&Pres-Global Networks&Tech | Tax withheld | 7,435 | $372.8K |
| Feb 27, 2026 | Malady Kyle EVP and Group CEO-VZ Business | Option exercise | 34,020 | — |
| Feb 27, 2026 | Hammock Samantha EVP & Chief HR Officer | Tax withheld | 6,986 | $350.3K |
| Feb 27, 2026 | Stillwell Mary-Lee SVP and Controller | Option exercise | 9,448 | — |
| Feb 27, 2026 | Hammock Samantha EVP & Chief HR Officer | Option exercise | 13,657 | — |
| Feb 27, 2026 | Hammock Samantha EVP & Chief HR Officer | Tax withheld | 8,211 | $411.7K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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