Companies /Communication Services

Verizon Communications Inc

NYSE: VZ Telecom Services
$50.10
â–² $0.67 (+1.36%) today
Markets closed · 8:03pm ET

Q3 2025 Earnings

Reported Oct 29, 2025, 6:31am ET · SEC source
$1.21
Beat +1.54%
EPS · est. $1.19
$33.8B
Miss −1.31%
Revenue · est. $34.3B
+2.4%
Beating market
VZ vs S&P since report
7 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+2%+4%Oct 29Oct 30report 6:31am ETearnings−0.7%+0.4%
0+2%+4%Oct 29Oct 30earnings−0.7%+0.4%
VZ +0.4%S&P 500 −0.7%
0+2%+4%Oct 29Oct 30report 6:31am ETearnings−0.8%+0.4%
0+2%+4%Oct 29Oct 30earnings−0.8%+0.4%
VZ +0.4%NASDAQ −0.8%
−4%−2%0Oct 28Nov 6report 6:31am ETearnings−1.5%−2.3%
−4%−2%0Oct 28Nov 6earnings−1.5%−2.3%
VZ −2.3%S&P 500 −1.5%
−4%−2%0Oct 28Nov 6report 6:31am ETearnings−1.8%−2.3%
−4%−2%0Oct 28Nov 6earnings−1.8%−2.3%
VZ −2.3%NASDAQ −1.8%
+2.26%
Day of report
−3.11%
Next session
−1.29%
One week
+1.32%
30 days

S&P 500 over the same 30 days: −1.04%.

Did VZ Beat Earnings? Q3 2025 Results

Verizon opened a new chapter under incoming CEO Dan Schulman in Q3 2025, delivering steady if measured results as the carrier balanced competitive wireless headwinds against broadband momentum. Adjusted EPS came in at $1.21, up modestly from $1.19 a year ago, while total operating revenue rose 1.5% year-over-year to $33.82 billion, a solid but unspectacular showing that reflected the same incremental growth trends Schulman has pledged to disrupt. The quarter's most notable weakness was in subscriber metrics, with total wireless retail postpaid net additions falling sharply to 36,000 from 349,000 a year ago and postpaid phone churn ticking up to 0.98% from 0.88%, signaling real competitive pressure. Broadband offered a meaningful counterweight, with 306,000 net additions and fixed wireless access revenue climbing 34.9% to $758.00 million. Looking ahead, Verizon reiterated full-year 2025 guidance for wireless service revenue growth of 2.0% to 2.8% and adjusted EPS growth of 1.0% to 3.0%, excluding any impact from the pending Frontier Communications acquisition.

Key Takeaways
  • Wireless service revenue growth of 2.1% year-over-year driven by Consumer wireless service revenue improvements
  • Broadband net additions of 306,000 including 261,000 FWA subscribers
  • FWA revenue surged 34.9% year-over-year to $758 million
  • Fios internet delivered 61,000 net additions, best quarterly result in two years
  • Over 18% of Consumer postpaid phone customers have a converged offering
  • Business segment operating income increased 12.7% with margin expansion to 8.9% from 7.7%
  • SG&A expenses declined 20.1% year-over-year at the consolidated level
  • Consumer wireless postpaid ARPA increased 2.0% year-over-year to $147.91

“We are going to take bold and fiscally responsible action to redefine Verizon's trajectory at this critical inflection point for our company. We will rapidly shift to a customer-first culture, one that thrives on delighting our customers.”

Verizon CEO, on the earnings call

Forward Guidance & Outlook

Verizon reiterated its previously updated full-year 2025 guidance: total wireless service revenue growth of 2.0% to 2.8%, adjusted EBITDA growth of 2.5% to 3.5%, adjusted EPS growth of 1.0% to 3.0%, cash flow from operations of $37.0 billion to $39.0 billion, and free cash flow of $19.5 billion to $20.5 billion. Capital expenditures are expected within or below the previously guided range of $17.5 billion to $18.5 billion. The 2025 guidance does not reflect any assumptions regarding the pending acquisition of Frontier Communications.

VZ YoY Financials

Revenue$33.8B
Operating Income$8.1B
Net Income$5.1B

VZ Revenue by Segment

Verizon Consumer$26.1B+2.9%
Wireless Service$21.0B+2.1%
Wireless Equipment$5.6B+5.2%
Verizon Business
Business Markets and Other$3.4B+2.7%
Enterprise and Public Sector$3.3B−6.4%
Fios$3.2B
Fixed Wireless Access$758.0M+34.9%

Figures from SEC filings and company reports. Not investment advice.