Verizon service revenue jumps 2.8% to $23.4bn

• Verizon’s mobility and broadband service revenue increased 2.8% to approximately $23.4 billion.
• Adjusted EPS rose 6.6% to $1.30, while total revenue declined 0.7% to $34.3 billion.
• Verizon raised its full-year earnings, service revenue, cash flow and share repurchase forecasts.

Verizon (NYSE:VZ) reported mobility and broadband service revenue of $23.4 billion, up 2.8%, as customer additions exceeded 550,000.

Total revenue fell 0.7% to $34.3 billion as equipment revenue dropped nearly 20%, missing the $35.16 billion analyst estimate.

Net income fell 22.9% to $3.9 billion after $1.8 billion of pre-tax special items, while adjusted EBITDA rose 7.2% to $13.7 billion.

Verizon raised adjusted EPS guidance to $4.99–$5.04.

The company added 184,000 postpaid phone customers and 348,000 broadband customers after launching Simplicity and Verizon One.

First-half free cash flow rose 16% to $10.2 billion, while Verizon lifted its 2026 share repurchase target to $4.5 billion.