Shares of Verizon Communications Inc. were gaining around 3 percent in the early morning trading on the NYSE after the telecom major on Monday lifted fiscal 2026 adjusted earnings outlook after reporting higher profit and revenues for its first quarter. The company said it achieved highest quarterly adjusted EBITDA in company history, and delivered its first positive first-quarter postpaid phone net adds since 2013.
Verizon CEO Dan Schulman stated, "Our first-quarter 2026 results show that our turnaround is not only progressing, it is gaining momentum... Given our strong performance and momentum, we are raising our 2026 Adjusted EPS guidance to year-over-year growth of 5.0 to 6.0 percent and we now expect our total retail postpaid phone net additions to be in the upper half of our 750,000 to one million range."
For fiscal 2026, the company now expects adjusted earnings per share of $4.95 to $4.99, representing year-over-year growth of 5.0 to 6.0 percent. Previously, the company expected adjusted earnings per share of $4.90 to $4.95.
Total retail postpaid phone net additions are now expected to be in the top half of the 750,000 to 1.0 million range, which is approximately 2 to 3 times the 2025 reported result.
Verizon continues to expect total mobility and broadband service revenue growth of 2.0 percent to 3.0 percent, equating to around $93 billion, and wireless service revenue growth of approximately flat as it transitions to sustainable volume-based growth.
The company added that it remains on track for its full-year share repurchase target of at least $3.0 billion.
In its first quarter, consolidated net income attributable to Verizon was $5.05 billion, a 3.4 percent increase from last year's $4.88 billion. Earnings per share grew 4.3 percent to $1.20 from $1.15 a year ago.
The company noted that Frontier results are included in its results beginning on January 20, the date of the closing of the acquisition.
Adjusted earnings were $1.28 per share for the period, a 7.6 percent increase from last year's $1.19, and the best quarterly growth rate since 2021.
Consolidated adjusted EBITDA grew 6.7 percent year-over-year to $13.4 billion.
The company's operating revenue for the period rose 2.9 percent to $34.44 billion from $33.49 billion last year.
Service revenues and other grew 2.4 percent from last year to $28.76 billion, and Wireless equipment revenues increased 5.2 percent to $5.68 billion.
Mobility and broadband service revenue reached approximately $22.9 billion, representing a 1.6 percent increase year-over-year.
In the first quarter, Verizon reported total postpaid phone net additions of 55,000, the first time the company generated positive first-quarter total postpaid phone net additions since 2013. The year-over-year improvement of over 340,000 was driven in part by a higher mix of new to Verizon gross additions.
On the NYSE, Verizon shares are currently trading 3.1 percent higher, at $47.80.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.