EarningsQ2 2026 Earnings Report
MX:VZ Q2 2026 EPS Results
Actual EPS$23.61
Consensus EPS$23.21
Beat/MissBeat by +$0.40
One Year Ago EPS$22.16
MX:VZ Q2 2026 Revenue Results
Actual Revenue$622.06B
Expected Revenue$638.57B
Beat/MissMissed by -$16.51B
YoY Revenue Growth-0.73%
Earnings Announcement Details
QuarterQ2 2026
Date07/24/2026
TimeBefore Open
Conference CallFriday, July 24, 2026
MX:VZ Upcoming Earnings
Verizon's next earnings date is estimated for October 26, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:VZ Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveys a strong positive operational and financial inflection: improving churn and customer economics, meaningful net add momentum in mobility and broadband, accelerating mobility & broadband service revenue growth, record margins and EBITDA, and sizable free cash flow and buybacks with raised guidance. Key near-term headwinds remain limited to equipment revenue declines (driven by deliberate lower upgrade/susbidy activity), a modest YoY total revenue decline, capital intensity for spectrum and fiber, and execution/timing risk around the nascent AI infrastructure revenue stream. On balance the positives—clear metric improvements, upgraded guidance, and large cash flow/margin gains—substantially outweigh the lowlights.Company Guidance
Strong Postpaid Phone Net Adds and Account Growth
Q2 postpaid phone net adds of 184,000 (best consumer Q2 in 5 years); Q2 postpaid phone net adds improved 193,000 year-over-year. First half postpaid phone net adds up 537,000 versus prior year and management expects full-year postpaid phone net adds to be in the upper half of the 750k–1M range. Net new accounts have been positive for the past two months.
Broadband Share Gains and Scale
Broadband net additions of 348,000 in Q2 (FWA net adds 193,000; fiber net adds 155,000). Total broadband subscribers now over 17.1 million and Verizon remains on track to exceed 32 million fiber passings by year-end.
Revenue Acceleration in Mobility & Broadband
Mobility and broadband service revenue grew 2.8% year-over-year in Q2 (up from 1.6% in Q1). Guidance raised: Q3 expected to approach ~3% and Q4 ~4% year-over-year. Full-year mobility and broadband service revenue guidance raised to 2.5%–3%.
Earnings and Cash Flow Outperformance
Adjusted EPS of $1.30 in Q2, up 6.6% year-over-year. Q2 free cash flow of $6.4 billion, up 24% year-over-year; first half free cash flow $10.2 billion, up 16% year-over-year. Company raised full-year adjusted EPS guidance to +6%–7% and free cash flow guidance to +9%–10%.
Margin Expansion and Best-Ever Adjusted EBITDA
Second quarter adjusted EBITDA of $13.7 billion, up 7.2% year-over-year. Adjusted EBITDA margin reached 40.1%—the highest reported level in company history.
Improving Customer Economics and Lower Churn
Consumer postpaid phone churn improved to 84 basis points (down from 90 bps in Q1 and 95 bps in Q4); overall postpaid phone churn improved 5 bps year-over-year. Promotional cost of acquisition improved ~15% YoY and promotional cost of retention improved ~17% YoY.
Capital Allocation: Buybacks, Dividends, and Deleveraging
Completed $1.0 billion of buybacks in Q2 and $3.5 billion year-to-date (already above prior $3.0 billion commitment), raising full-year buyback target to up to $4.5 billion. Year-to-date shareholder returns of $9.4 billion (dividends $5.9B, buybacks $3.5B), net unsecured debt/adjusted EBITDA 2.5x (improved 0.1x). Substantially all Frontier debt paid off six months ahead of schedule.
Strategic Agreements & Long-term Growth Vectors
Announced a 50-50 JV with BT to combine international wireline businesses (combined ~ $4 billion revenue at formation; expected ~ $200 million annualized savings vs current course). Signed an agreement with Google valued at over $1 billion for dark fiber; management expects additional AI infrastructure deals worth multiple billions over the next several years.
Transformation Programs Delivering Savings
Management reports the $9 billion OpEx/CapEx savings program and $5 billion operating cost efficiency program are on plan. Frontier integration expected to deliver >$1 billion operating cost run-rate synergies by 2028.
MX:VZ Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed