Verizon $VZ Communications reported second-quarter postpaid phone net additions of 184,000 on Friday, surpassing analyst expectations and prompting the company to raise its full-year financial guidance for the second consecutive quarter.
The wireless carrier added 184,000 postpaid phone net subscribers in the second quarter, well above analyst forecasts
Erik McGregor / Getty Images
Verizon $VZ Communications reported second-quarter postpaid phone net additions of 184,000 on Friday, surpassing analyst expectations and prompting the company to raise its full-year financial guidance for the second consecutive quarter.
That result stood in contrast to the year-ago quarter, when Verizon was shedding postpaid phone subscribers rather than adding them, according to MarketWatch. Analyst consensus had forecast 106,000 postpaid phone net additions.
Along with the guidance increase, the company said it expanded its full-year share buyback target to up to $4.5 billion.
Verizon CEO Dan Schulman attributed the results to the company's efforts to reduce customer churn and lower acquisition costs. "We are gaining subscribers and earning long-term retention based on real value rather than subsidized promotions," Schulman said in a statement. "Our second-quarter results provide clear, compelling evidence that this transformation is driving a structural inflection point across our entire business."
Schulman, who also cited the emergence of AI infrastructure revenue as a factor reshaping the company's growth trajectory, pointed to recent product updates including new Simplicity plans, Verizon One converged offerings, and a loyalty program as contributors to subscriber gains.
Verizon stock rose on Friday following the results.
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