Verizon lifts profit guidance after solid Q1 as wireless subscribers rise

(Sharecast News) - Verizon unexpectedly added wireless subscribers in the first quarter and upgraded its full-year profit guidance, though revenue growth was limited by a widespread network outage in mid-January.

Revenues rose 2.9% year-on-year to $34.4bn, missing analysts' estimates, with an outage affecting the company's mobile phone network for a number of hours on 14 January leading to credits to customers.

Nevertheless, Verizon ended the period with 55,000 more postpaid phone connections, defying expectations for a decline in subscribers. This was the company's first positive Q1 for postpaid phone net additions since 2013, and marked a 340,000 increase over the last year.

Adjusted earnings per share rose 7.6% to $1.28 to mark the telecom firm's strongest quarterly growth rate in five years. Net income was up 3.3% at $5.1bn.

For 2026 as a whole, adjusted EPS growth has been lifted to 5-6% from the previous 4-5% guidance, "representing a significant acceleration compared to recent historical performance", Verizon said.

Meanwhile, postpaid phone net adds are now expected to be in the top half of the 750,000-1m range.

"Our first-quarter 2026 results show that our turnaround is not only progressing, it is gaining momentum," said Verizon chief Dan Schulman.

"We are beginning to reclaim our market leadership by putting the customer at the center of everything we do, reducing friction to increase loyalty and create genuine value. This disciplined approach is already delivering healthier economics, lower churn, and the first positive first-quarter postpaid phone net adds we've seen in over a decade."

Verizon futures were up 3.7% at $48.10 by 0741 BST.