Investing.com — Verizon Communications Inc. (NYSE: VZ) reported its third-quarter results before the open today, topping profit expectations.
Adjusted earnings per share of $1.31 beat the analyst estimate of $1.28 by $0.03. Revenue came in at $34.31 billion, up 1.5% YoY, but fell short of the consensus estimate of $34.77 billion. The company raised its full-year 2026 adjusted EPS guidance to $5.04-$5.06, with a midpoint of $5.05 that exceeds the analyst consensus of $5.02.
The telecommunications company delivered 406,000 postpaid phone net additions, representing an increase of more than 820% YoY and marking the strongest third-quarter performance in five years.
Verizon added 137,000 postpaid net accounts, its best performance in over a decade. Mobility and broadband service revenue reached $23.5 billion, growing 2.9% YoY. The company also reported consolidated adjusted EBITDA of $13.8 billion, up 8.0% YoY, which it described as the highest quarterly result ever reported.
Shares rose 0.7% following the announcement.
“Verizon delivered another record-breaking quarter. One year into our transformation, Verizon is fundamentally stronger — operationally, financially, and competitively,” said Dan Schulman, Verizon CEO. “By prioritizing customer-first offerings like Simplicity and our expanded loyalty program over heavy subsidies, we are winning loyal, high-value customers while expanding margins, reducing churn, and generating strong sustained cash flow.”
For the full year 2026, Verizon raised its guidance for the third consecutive quarter. The company now expects postpaid phone net additions of 1.1 million to 1.2 million, up from the upper half of 750,000 to 1.0 million. Adjusted EPS is projected to grow 7.0% to 7.5% YoY, up from the prior range of 6.0% to 7.0%. Free cash flow is expected to approach 12.0% growth YoY, up from 9.0% to 10.0%.
Cash flow from operations was $11.5 billion for the quarter, up 2.2% YoY, while free cash flow reached $7.8 billion, up 12.1% YoY.
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