Verizon Q1 2026 earnings: first spring subscriber gains since 2013

2 min readUpdated April 27, 2026

Among the highlights in Verizon $VZ's first-quarter 2026 results was a net gain of 55,000 postpaid phone subscribers — a figure that marked the first positive first-quarter performance on that metric since 2013. The year-over-year improvement exceeded 340,000, the company said.

At $1.28, adjusted EPS climbed 7.6% compared with the same period a year ago, representing the strongest quarterly growth rate the company has recorded since 2021. The result cleared the $1.20 consensus estimate cited by MarketWatch. On the top line, total operating revenue of $34.4 billion represented a 2.9% year-over-year increase but fell below the $34.8 billion analysts had anticipated, per MarketWatch.

"Our first-quarter 2026 results show that our turnaround is not only progressing, it is gaining momentum," CEO Dan Schulman said in a statement. "This disciplined approach is already delivering healthier economics, lower churn, and the first positive first-quarter postpaid phone net adds we've seen in over a decade."

Since assuming the CEO role in October, Schulman has pursued a cost-reduction strategy that has included workforce reductions, while the company has also moved to streamline its offerings for customers, according to MarketWatch. The company said the subscriber gains were driven in part by a higher mix of customers new to Verizon and improvements in churn.

The company attributed the revenue miss in part to restrained promotional spending, which slowed device upgrade activity and dragged on wireless equipment revenue. Mobility and broadband service revenue totaled $22.9 billion, a 1.6% increase, though Verizon noted that credits issued to customers following a network disruption in January shaved 80 basis points off that segment's growth rate.

Consolidated net income was $5.1 billion, up 3.3% from a year earlier. Adjusted EBITDA grew 6.7% to $13.4 billion, the highest quarterly figure in company history, Verizon said. Free cash flow reached $3.8 billion, up 4.0% year-over-year.

The deal to acquire Frontier, which operates fiber internet infrastructure, closed earlier this year; the unit's financial contributions have been consolidated into Verizon's results beginning January 20. The company said it has paid down about half of Frontier's debt since the acquisition closed and expects to repay substantially all of it by year-end.

Verizon stock rose more than 3% in premarket trading following the report.

Verizon posted its first spring subscriber gains since 2013 and raised its profit outlook

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