Verizon topped adjusted EPS estimates and lifted full-year revenue growth forecasts, offsetting a slight revenue miss for Q2.
Verizon Communications Inc (VZ) reported adjusted earnings per share of $1.30 for Q2, surpassing analyst estimates of $1.27 to $1.28. Revenue reached $34.25 billion, slightly below the expected $35.28 billion.
The company added 184,000 postpaid phone customers, exceeding forecasts of 106,000, marking its strongest Q2 consumer postpaid phone net additions in five years. Mobility and broadband service revenue grew 2.8% year over year to $23.4 billion.
Verizon raised its full-year guidance, now projecting mobility and broadband service revenue growth of 2.5% to 3.0% in 2026. Shares rose about 3% following the announcement.