Verizon (VZ) Q3 2026 Earnings
How Did VZ Stock React to Q3 2026 Earnings?
Did VZ Beat Earnings? Q3 2026 Results
Yes. Verizon reported Q3 2026 earnings of $1.31 a share on Oct 26, 2026, beating the $1.27 consensus estimate by 2.8%. Revenue was $34.3B against a $34.9B estimate.
Verizon Communications delivered a mixed but broadly encouraging third quarter for fiscal 2026, posting adjusted EPS of $1.31 against a consensus estimate of $1.27, a beat of 2.80% that extended the company's streak of topping EPS expectations to seven consecutive quarters. Revenue of $34.31 billion grew 1.4% year-over-year but fell short of the $34.85 billion consensus by 1.55%, a gap that reflected a deliberate strategic trade-off: equipment revenue declined as Verizon pulled back on device subsidies, while higher-margin service revenue expanded, helping push consolidated Adjusted EBITDA margin from 37.8% to 40.2%. The standout driver was wireless subscriber momentum, with 406,000 postpaid phone net additions in the quarter, up sharply from 44,000 a year ago, supported by a customer-first approach centered on simplified pricing and loyalty rather than heavy promotional spending. Broadband also scaled with 314,000 net additions, and a multibillion-dollar agreement with AWS to deploy distributed compute for AI workloads underscored the network's evolving strategic value. Verizon raised full-year adjusted EPS guidance to $5.04-$5.06, implying 7.0-7.5% growth, and now expects postpaid phone net additions of 1.1-1.2 million for the year.
- 406,000 postpaid phone net additions, more than 820% increase year-over-year
- 137,000 postpaid net account additions, best in over a decade
- Mobility and broadband service revenue grew 2.9% year-over-year, accelerating sequentially
- Postpaid phone churn improved 4 bps year-over-year to 0.94%
- Promotional cost of acquisition decreased 41% year-over-year
- Promotional cost of retention improved 30% year-over-year
- 314,000 broadband net additions including 159,000 FWA and 155,000 fiber
- Consolidated Adjusted EBITDA margin expanded from 37.8% to 40.2%
- Equipment revenue declined 9.0% as upgrade volumes fell and device subsidies were reduced
“Verizon delivered another record-breaking quarter. One year into our transformation, Verizon is fundamentally stronger — operationally, financially, and competitively.”
Verizon CEO, on the earnings call
What Is Verizon's Outlook?
Verizon raised its full-year 2026 guidance for the third consecutive quarter. Postpaid phone net additions are now expected at 1.1 million to 1.2 million, up from the upper half of 750,000 to 1.0 million, representing more than three times 2025 levels. Adjusted EPS is guided to $5.04-$5.06, implying 7.0-7.5% growth year-over-year, up from 6.0-7.0%. Cash flow from operations growth is expected at 3.5-5.0%, up from 2.0-4.0%. Free cash flow is expected to approach 12.0% growth year-over-year, up from 9.0-10.0%. Mobility and broadband service revenue is expected to grow in the upper half of 2.5-3.0% annually, with approximately 4.0% growth in Q4 2026. Capital expenditures remain at $16.0-$16.5 billion, inclusive of AI Connect investments. The company continues to expect share repurchases of up to $4.5 billion for the full year.
VZ YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $34.3B | $33.8B | +1.5% |
| Operating Income | $8.7B | $8.1B | +6.7% |
| Net Income | $5.2B | $5.0B | +5.0% |
VZ Revenue by Segment
When Does Verizon Report Next?
Figures from SEC filings and company reports. Not investment advice.