Verizon Beats on Q2 Profit, Lifts Guidance as Margins Hit Records

Verizon reported second-quarter adjusted earnings of $1.30 per share on Friday, topping the $1.27 consensus, though revenue of $34.3 billion slipped 0.7% from a year earlier and came in below estimates. Shares rose about 2.8% to $45.06 as investors looked past the top-line miss.

Management pointed to record adjusted EBITDA margins, surging free cash flow, and improved customer quality with lower churn, describing the quarter as a structural inflection in the business. The company raised its full-year outlook alongside the results.

Verizon has now raised its dividend for 21 consecutive years, and the upgraded guidance reinforces its appeal to income-focused investors. The report follows AT&T's strong quarter earlier in the week, capping a solid earnings stretch for the major carriers.