Verizon Reports Third-Quarter Revenue of $34.3 Billion, Up 1.5%

Verizon Communications (NYSE: VZ) reported third-quarter 2026 total operating revenue of $34.3 billion, up 1.5 percent from a year earlier, and adjusted earnings per share of $1.31, up 8.3 percent, in an 8-K filed Monday. GAAP EPS was $1.25, up 6.8 percent from $1.17.

Postpaid growth and subscriber additions

Verizon added 406,000 postpaid phone net additions in the quarter, the strongest third-quarter performance in five years, and 137,000 postpaid net accounts, the best result in over a decade. Broadband net additions totaled 314,000, including 159,000 fixed wireless access and 155,000 fiber. Mobility and broadband service revenue rose 2.9 percent to about $23.5 billion.

Profit, cash flow and capital returns

Consolidated Adjusted EBITDA grew 8.0 percent to $13.8 billion, the highest quarterly result the company has reported, and the Adjusted EBITDA margin rose to 40.2 percent from 37.8 percent. Net income was $5.3 billion, up 5.2 percent. Cash flow from operations was $11.5 billion and free cash flow was $7.8 billion, up 12.1 percent. Equipment revenue fell 9.0 percent, which the company attributed mainly to lower upgrade volumes and reduced device subsidy spending.

Verizon returned $12.8 billion to shareholders in the first nine months, including $4.0 billion of share repurchases, and continues to expect to repurchase up to $4.5 billion for the full year. Net unsecured debt was $123.7 billion, or 2.3 times Consolidated Adjusted EBITDA.

Raised guidance

Verizon raised its 2026 guidance for postpaid phone net additions to 1.1 million to 1.2 million, Adjusted EPS to $5.04 to $5.06, cash flow from operations growth to 3.5 to 5.0 percent, and free cash flow growth to approach 12.0 percent. Capital expenditures are still expected at $16.0 billion to $16.5 billion.

Separately, Verizon shares closed at $43.10 on Monday, down 3.5 percent. The stock had closed at $44.66 on Friday, Oct. 23.