Verizon Communications (VZ) Earnings Date & Reports

Key Takeaways

• Verizon is expected to report third-quarter 2026 results before the market opens on October 20, 2026.
• Analysts forecast adjusted earnings of about $1.28 per share on revenue of roughly $34.82 billion.
• Management has guided for mobility and broadband service revenue growth to approach 3% in the quarter.
• Verizon has beaten adjusted EPS estimates in eight consecutive quarters, though total revenue has recently come in below consensus.
• Investors will focus on postpaid phone net additions, broadband growth, churn, and free cash flow.

Earnings Context and Why It Matters

Verizon Communications' upcoming report is a key checkpoint for Chief Executive Officer Dan Schulman's turnaround. The company's second-quarter results showed accelerating profitability, record adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization), and its strongest consumer postpaid phone growth in years. However, total revenue slipped as customers held onto devices longer, reducing equipment sales. This quarter will reveal whether the shift toward higher-quality service revenue can offset that equipment decline, and whether Verizon's raised full-year guidance remains on track. For investors, the report offers a read on competitive dynamics across wireless and broadband as well as the payoff from the recent Frontier acquisition.

Earnings Expectations

Wall Street expects Verizon to post adjusted earnings per share of about $1.28 for the third quarter, based on analyst estimates ranging from $1.23 to $1.38. Consensus revenue stands near $34.82 billion. A year earlier, Verizon reported adjusted EPS of $1.21 on revenue of $33.82 billion, so the current estimates imply solid year-over-year earnings growth.

Management has guided for total mobility and broadband service revenue growth to approach 3% in the third quarter, accelerating from the 2.8% increase delivered in the second quarter. The company has also said it expects full-year adjusted EPS of $4.99 to $5.04, implying 6% to 7% growth, with total retail postpaid phone net additions landing in the upper half of its 750,000 to 1 million range.

Beyond the headline numbers, investors will watch postpaid phone net additions, broadband net additions, fixed wireless access gains, consumer churn, and free cash flow. Historically, Verizon has been a reliable EPS beater, exceeding adjusted earnings expectations for eight straight quarters, though revenue has missed consensus in recent periods because of weak device sales.

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Market Reaction and Investor Sentiment

Sentiment heading into the report has been broadly positive. After Verizon's second-quarter beat, shares rose about 3% in premarket trading, and the stock has climbed more than 7% in the weeks since that report as investors rewarded improving profitability and raised guidance. The market appears to be embracing the narrative of a structural shift away from subsidy-heavy promotions toward network quality and simplified pricing. Still, risks remain: the persistent drag from declining equipment revenue and any slowdown in wireless service growth could temper enthusiasm. A stronger-than-expected print on service revenue and subscriber trends would likely reinforce the turnaround story, while weakness on those fronts could renew questions about competitive pressure from rivals.

Forward Outlook and Key Factors to Monitor

Following the earnings release, investors should watch several signals that could shape Verizon's trajectory into 2027. The first is the pace of service revenue acceleration. Management has guided for fourth-quarter service revenue growth of roughly 4%, so any indication that momentum is building toward that target will matter.

Subscriber economics are another focal point. Lower churn, reduced acquisition and retention costs, and the ongoing expansion of the "Simplicity" pricing model are central to the company's margin story. Continued gains in postpaid phone and broadband net additions would support the case that Verizon is winning customers more profitably.

Finally, investors should monitor the integration of Frontier, the fiber build-out, and the early development of Verizon's AI Connect initiative, which management has said could begin contributing revenue in 2027. These longer-term projects carry execution risk but also represent potential sources of future growth beyond the core wireless business.

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