Verizon Posts Record Third Quarter and Raises 2026 Outlook

Verizon reported third-quarter results on Monday, with revenue of $34.3 billion, up 1.5% from a year earlier. Adjusted earnings per share rose 8.3% to $1.31, and adjusted EBITDA climbed 8.0% to $13.8 billion, lifting the adjusted EBITDA margin to 40.2%, the highest the company has reported. Free cash flow was $7.8 billion, up 12.1%.

Postpaid phone net additions came in at 406,000, the strongest third quarter in five years. Equipment revenue fell 9.0%, while mobility and broadband service revenue grew 2.9%.

The company raised its full-year guidance, now expecting 1.1 to 1.2 million postpaid phone net adds and adjusted EPS of $5.04 to $5.06. Capital spending guidance was unchanged at $16.0 to $16.5 billion. The results arrive as investors weigh reports of SpaceX talks to access U.S. cell towers.