VZ$44.66▼ 1.2%Verizon's phone lines are back. Its wireless revenue isn't back to last year's level
Verizon said it added 406,000 phone lines on monthly plans, its best third quarter in five years. Its own figures show the average account brought in less than a year earlier, as it did in each quarter of 2026.
KeyVex News··6 min readFact-checked against 10 public recordsKeyVex News··6 min readFact-checked against 10 public recordsVZ$44.66▼ 1.2%Close, Oct. 23. Prices from Tiingo.The short versionTap to readTap to close
- Adding lines is easy if you spend more and give lines away free, Verizon's chief executive said. Verizon added its lines while cutting promotional spending to win customers 41% and to keep them 30%.
- Revenue grows when a company sells to more customers, or gets more from each. Verizon had about as many monthly-plan accounts as a year earlier, and the average one brought in 1.9% less.
- Wireless service revenue, what customers pay for service on its wireless network, was "just over $20.9 billion," Verizon's finance chief said, against $21.0 billion a year earlier. Its results tables dropped that figure in 2026.
- In the third quarter, profit grew faster than revenue. Adjusted EBITDA, a measure of operating profit, rose 8.0% to $13.8 billion, the most Verizon has reported in a quarter, it said.
- Next: Verizon's chief executive said he expects wireless service revenue to grow from a year earlier in the fourth quarter. Verizon reported last year's fourth quarter on Jan. 30.
The quarter: Verizon Communications said before the market opened on Oct. 26 that it added 406,000 postpaid phone lines in the third quarter, against 44,000 a year earlier.8-KEDGAR Postpaid lines are phones on monthly plans. Verizon also raised its full-year forecasts, for the third quarter in a row.8-K
The turn: In the first quarter of 2025, Verizon lost 289,000 postpaid phone lines.8-K On Oct. 4, 2025, the board named Dan Schulman, a director and former chief executive of PayPal, as chief executive.8-K Verizon has added phone lines in every quarter since.8-K8-K8-K
Why it matters: Verizon leads its results with phone additions. Its figures also show that the average account brings in less than a year earlier.8-K Wireless service revenue, a figure Verizon now gives in its quarterly reports and on its calls rather than in its results tables, was "just over $20.9 billion," its finance chief said, against $21.0 billion a year earlier.Call8-K In the third quarter, profit grew faster than revenue.8-K
Verizon's stock and the turnaround's key datesDaily close, July 1, 2025 to Oct. 23, 2026 ▲ 2.2%Show chartHide chart
- 1Oct. 6, 2025 First trading day after the board names Dan Schulman chief executive. He replaced Hans Vestberg on Oct. 4. Verizon closes down 5.1% at $41.44.
- 2Jan. 30, 2026 Fourth-quarter results: 616,000 phone lines added. Verizon forecasts about flat wireless service revenue for 2026. It closes up 11.8% at $44.52.
- 3April 27, 2026 First quarter: 55,000 phone lines added. Its first positive first quarter since 2013, Verizon says. Closes at $47.10.
- 4July 24, 2026 Second quarter: 184,000 phone lines added. Closes up 5.8% at $46.38.
- 5Oct. 23, 2026 Last close before the third-quarter results. $44.66. The results came out before the market opened on Oct. 26.
View the data (332 trading days)
| Date | Close | Day change |
|---|---|---|
| 2026-10-23 | $44.66 | −1.2% |
| 2026-10-22 | $45.20 | +3.8% |
| 2026-10-21 | $43.56 | −2.2% |
| 2026-10-20 | $44.54 | +0.9% |
| 2026-10-19 | $44.15 | −1.4% |
| 2026-10-16 | $44.79 | +0.9% |
| 2026-10-15 | $44.40 | 0.0% |
| 2026-10-14 | $44.42 | +2.0% |
| 2026-10-13 | $43.53 | +1.8% |
| 2026-10-12 | $42.78 | +2.7% |
| 2026-10-09 | $41.65 | −10.1% |
| 2026-10-08 | $46.35 | +1.3% |
| 2026-10-07 | $45.77 | −0.5% |
| 2026-10-06 | $45.98 | +0.3% |
| 2026-10-05 | $45.85 | −0.2% |
| 2026-10-02 | $45.92 | −0.1% |
| 2026-10-01 | $45.98 | +0.2% |
| 2026-09-30 | $45.87 | −0.2% |
| 2026-09-29 | $45.98 | −1.5% |
| 2026-09-28 | $46.68 | −0.8% |
| 2026-09-25 | $47.08 | −0.5% |
| 2026-09-24 | $47.32 | +1.7% |
| 2026-09-23 | $46.52 | +0.2% |
| 2026-09-22 | $46.45 | −2.6% |
| 2026-09-21 | $47.68 | −0.9% |
| 2026-09-18 | $48.09 | −0.5% |
| 2026-09-17 | $48.33 | −2.9% |
| 2026-09-16 | $49.76 | −3.3% |
| 2026-09-15 | $51.45 | +0.3% |
| 2026-09-14 | $51.29 | +1.3% |
| 2026-09-11 | $50.61 | +1.3% |
| 2026-09-10 | $49.97 | +0.5% |
| 2026-09-09 | $49.74 | −1.3% |
| 2026-09-08 | $50.41 | +0.5% |
| 2026-09-04 | $50.14 | −0.9% |
| 2026-09-03 | $50.59 | +0.7% |
| 2026-09-02 | $50.22 | −0.2% |
| 2026-09-01 | $50.30 | +0.6% |
| 2026-08-31 | $50.02 | −0.2% |
| 2026-08-28 | $50.10 | +1.4% |
| 2026-08-27 | $49.43 | −1.5% |
| 2026-08-26 | $50.19 | −0.1% |
| 2026-08-25 | $50.25 | +0.2% |
| 2026-08-24 | $50.15 | +1.4% |
| 2026-08-21 | $49.45 | +0.5% |
| 2026-08-20 | $49.19 | −0.3% |
| 2026-08-19 | $49.36 | +1.7% |
| 2026-08-18 | $48.54 | +1.0% |
| 2026-08-17 | $48.06 | −0.9% |
| 2026-08-14 | $48.48 | +0.5% |
| 2026-08-13 | $48.22 | +2.6% |
| 2026-08-12 | $46.98 | −0.6% |
| 2026-08-11 | $47.27 | +0.5% |
| 2026-08-10 | $47.03 | −0.1% |
| 2026-08-07 | $47.06 | +0.1% |
| 2026-08-06 | $46.99 | +1.1% |
| 2026-08-05 | $46.47 | −0.9% |
| 2026-08-04 | $46.88 | −1.0% |
| 2026-08-03 | $47.36 | +1.2% |
| 2026-07-31 | $46.81 | +1.5% |
| 2026-07-30 | $46.11 | −2.4% |
| 2026-07-29 | $47.22 | −2.0% |
| 2026-07-28 | $48.19 | +1.8% |
| 2026-07-27 | $47.32 | +2.0% |
| 2026-07-24 | $46.38 | +5.8% |
| 2026-07-23 | $43.82 | −1.1% |
| 2026-07-22 | $44.29 | +1.2% |
| 2026-07-21 | $43.78 | +0.6% |
| 2026-07-20 | $43.50 | −0.2% |
| 2026-07-17 | $43.59 | −0.7% |
| 2026-07-16 | $43.88 | +2.5% |
| 2026-07-15 | $42.83 | +0.8% |
| 2026-07-14 | $42.47 | −0.5% |
| 2026-07-13 | $42.68 | +1.3% |
| 2026-07-10 | $42.12 | −0.3% |
| 2026-07-09 | $42.24 | −0.5% |
| 2026-07-08 | $42.45 | −0.3% |
| 2026-07-07 | $42.59 | +1.2% |
| 2026-07-06 | $42.07 | −1.2% |
| 2026-07-02 | $42.56 | +1.4% |
| 2026-07-01 | $41.99 | −0.8% |
| 2026-06-30 | $42.34 | −4.0% |
| 2026-06-29 | $44.10 | −5.2% |
| 2026-06-26 | $46.54 | +1.0% |
| 2026-06-25 | $46.07 | +0.9% |
| 2026-06-24 | $45.68 | −2.2% |
| 2026-06-23 | $46.73 | +3.0% |
| 2026-06-22 | $45.36 | 0.0% |
| 2026-06-18 | $45.37 | −1.0% |
| 2026-06-17 | $45.84 | −1.9% |
| 2026-06-16 | $46.73 | −0.7% |
| 2026-06-15 | $47.07 | −2.2% |
| 2026-06-12 | $48.11 | +2.5% |
| 2026-06-11 | $46.94 | 0.0% |
| 2026-06-10 | $46.95 | +2.6% |
| 2026-06-09 | $45.78 | +0.7% |
| 2026-06-08 | $45.44 | +0.2% |
| 2026-06-05 | $45.37 | +1.1% |
| 2026-06-04 | $44.87 | −3.8% |
| 2026-06-03 | $46.65 | −2.5% |
| 2026-06-02 | $47.87 | +0.3% |
| 2026-06-01 | $47.73 | −0.2% |
| 2026-05-29 | $47.81 | −0.4% |
| 2026-05-28 | $48.01 | −0.5% |
| 2026-05-27 | $48.24 | −0.5% |
| 2026-05-26 | $48.49 | +0.3% |
| 2026-05-22 | $48.35 | +0.2% |
| 2026-05-21 | $48.27 | +0.9% |
| 2026-05-20 | $47.82 | +0.2% |
| 2026-05-19 | $47.74 | +2.1% |
| 2026-05-18 | $46.76 | +0.8% |
| 2026-05-15 | $46.37 | −1.5% |
| 2026-05-14 | $47.06 | −0.3% |
| 2026-05-13 | $47.21 | −1.5% |
| 2026-05-12 | $47.93 | +1.5% |
| 2026-05-11 | $47.23 | 0.0% |
| 2026-05-08 | $47.22 | +0.3% |
| 2026-05-07 | $47.09 | −0.7% |
| 2026-05-06 | $47.44 | +0.2% |
| 2026-05-05 | $47.34 | −0.5% |
| 2026-05-04 | $47.57 | −1.1% |
| 2026-05-01 | $48.11 | +0.2% |
| 2026-04-30 | $48.03 | +3.0% |
| 2026-04-29 | $46.61 | −1.3% |
| 2026-04-28 | $47.24 | +0.3% |
| 2026-04-27 | $47.10 | +1.6% |
| 2026-04-24 | $46.38 | −1.8% |
| 2026-04-23 | $47.22 | +2.7% |
| 2026-04-22 | $45.98 | −0.6% |
| 2026-04-21 | $46.27 | −0.4% |
| 2026-04-20 | $46.44 | −0.2% |
| 2026-04-17 | $46.55 | −0.5% |
| 2026-04-16 | $46.78 | +3.9% |
| 2026-04-15 | $45.03 | −1.0% |
| 2026-04-14 | $45.48 | +0.1% |
| 2026-04-13 | $45.42 | −1.3% |
| 2026-04-10 | $46.04 | −3.6% |
| 2026-04-09 | $47.78 | −0.5% |
| 2026-04-08 | $48.04 | −1.2% |
| 2026-04-07 | $48.62 | −1.1% |
| 2026-04-06 | $49.15 | −0.5% |
| 2026-04-02 | $49.40 | 0.0% |
| 2026-04-01 | $49.39 | −1.6% |
| 2026-03-31 | $50.20 | −0.2% |
| 2026-03-30 | $50.30 | 0.0% |
| 2026-03-27 | $50.31 | −0.8% |
| 2026-03-26 | $50.74 | +0.7% |
| 2026-03-25 | $50.37 | −1.1% |
| 2026-03-24 | $50.91 | +0.7% |
| 2026-03-23 | $50.58 | +1.2% |
| 2026-03-20 | $49.98 | +1.0% |
| 2026-03-19 | $49.48 | −0.2% |
| 2026-03-18 | $49.59 | −1.8% |
| 2026-03-17 | $50.52 | −0.9% |
| 2026-03-16 | $50.97 | −0.8% |
| 2026-03-13 | $51.38 | +1.5% |
| 2026-03-12 | $50.63 | −0.1% |
| 2026-03-11 | $50.68 | −0.1% |
| 2026-03-10 | $50.71 | +0.5% |
| 2026-03-09 | $50.45 | −1.3% |
| 2026-03-06 | $51.12 | −0.1% |
| 2026-03-05 | $51.18 | 0.0% |
| 2026-03-04 | $51.20 | +0.6% |
| 2026-03-03 | $50.87 | +1.8% |
| 2026-03-02 | $49.98 | −0.3% |
| 2026-02-27 | $50.14 | +2.6% |
| 2026-02-26 | $48.89 | −0.7% |
| 2026-02-25 | $49.23 | −1.3% |
| 2026-02-24 | $49.86 | +0.4% |
| 2026-02-23 | $49.68 | +0.9% |
| 2026-02-20 | $49.25 | +1.3% |
| 2026-02-19 | $48.64 | +1.2% |
| 2026-02-18 | $48.05 | −1.8% |
| 2026-02-17 | $48.93 | −0.2% |
| 2026-02-13 | $49.01 | −0.9% |
| 2026-02-12 | $49.46 | +1.0% |
| 2026-02-11 | $48.97 | +3.3% |
| 2026-02-10 | $47.39 | +0.8% |
| 2026-02-09 | $47.02 | +1.5% |
| 2026-02-06 | $46.31 | −1.7% |
| 2026-02-05 | $47.10 | +0.2% |
| 2026-02-04 | $47.01 | +1.6% |
| 2026-02-03 | $46.25 | +3.7% |
| 2026-02-02 | $44.61 | +0.2% |
| 2026-01-30 | $44.52 | +11.8% |
| 2026-01-29 | $39.81 | +1.0% |
| 2026-01-28 | $39.41 | +0.2% |
| 2026-01-27 | $39.32 | −0.8% |
| 2026-01-26 | $39.62 | +0.3% |
| 2026-01-23 | $39.52 | +0.1% |
| 2026-01-22 | $39.48 | +0.6% |
| 2026-01-21 | $39.24 | +0.4% |
| 2026-01-20 | $39.08 | +0.4% |
| 2026-01-16 | $38.91 | −1.1% |
| 2026-01-15 | $39.36 | −1.2% |
| 2026-01-14 | $39.83 | +2.1% |
| 2026-01-13 | $39.01 | −2.1% |
| 2026-01-12 | $39.84 | −1.5% |
| 2026-01-09 | $40.46 | −0.3% |
| 2026-01-08 | $40.57 | +1.1% |
| 2026-01-07 | $40.13 | −0.4% |
| 2026-01-06 | $40.30 | +0.2% |
| 2026-01-05 | $40.23 | −0.7% |
| 2026-01-02 | $40.52 | −0.5% |
| 2025-12-31 | $40.73 | +0.1% |
| 2025-12-30 | $40.70 | +0.5% |
| 2025-12-29 | $40.48 | 0.0% |
| 2025-12-26 | $40.48 | +0.4% |
| 2025-12-24 | $40.32 | +1.0% |
| 2025-12-23 | $39.92 | −0.2% |
| 2025-12-22 | $39.98 | +0.4% |
| 2025-12-19 | $39.82 | −1.5% |
| 2025-12-18 | $40.41 | −1.1% |
| 2025-12-17 | $40.88 | +0.3% |
| 2025-12-16 | $40.75 | −0.1% |
| 2025-12-15 | $40.80 | −0.2% |
| 2025-12-12 | $40.89 | +1.7% |
| 2025-12-11 | $40.22 | +0.8% |
| 2025-12-10 | $39.92 | −0.5% |
| 2025-12-09 | $40.14 | −2.8% |
| 2025-12-08 | $41.30 | −0.9% |
| 2025-12-05 | $41.69 | +1.0% |
| 2025-12-04 | $41.26 | +1.5% |
| 2025-12-03 | $40.67 | +0.1% |
| 2025-12-02 | $40.61 | −0.3% |
| 2025-12-01 | $40.74 | −0.9% |
| 2025-11-28 | $41.11 | +0.6% |
| 2025-11-26 | $40.88 | +0.7% |
| 2025-11-25 | $40.59 | +0.9% |
| 2025-11-24 | $40.21 | −2.5% |
| 2025-11-21 | $41.23 | +1.2% |
| 2025-11-20 | $40.76 | −1.0% |
| 2025-11-19 | $41.19 | −0.7% |
| 2025-11-18 | $41.48 | +1.1% |
| 2025-11-17 | $41.01 | −0.1% |
| 2025-11-14 | $41.06 | −0.1% |
| 2025-11-13 | $41.11 | +0.8% |
| 2025-11-12 | $40.80 | +0.2% |
| 2025-11-11 | $40.70 | +2.1% |
| 2025-11-10 | $39.85 | −0.4% |
| 2025-11-07 | $40.03 | +0.5% |
| 2025-11-06 | $39.82 | +0.3% |
| 2025-11-05 | $39.69 | +0.9% |
| 2025-11-04 | $39.32 | −0.4% |
| 2025-11-03 | $39.47 | −0.7% |
| 2025-10-31 | $39.74 | +2.0% |
| 2025-10-30 | $38.96 | −3.1% |
| 2025-10-29 | $40.21 | +2.3% |
| 2025-10-28 | $39.32 | +0.2% |
| 2025-10-27 | $39.23 | +1.1% |
| 2025-10-24 | $38.82 | +1.1% |
| 2025-10-23 | $38.40 | −3.5% |
| 2025-10-22 | $39.80 | −1.2% |
| 2025-10-21 | $40.30 | −1.2% |
| 2025-10-20 | $40.80 | +0.6% |
| 2025-10-17 | $40.55 | +0.5% |
| 2025-10-16 | $40.36 | 0.0% |
| 2025-10-15 | $40.38 | −0.4% |
| 2025-10-14 | $40.55 | +2.0% |
| 2025-10-13 | $39.75 | −0.3% |
| 2025-10-10 | $39.85 | −2.4% |
| 2025-10-09 | $40.83 | −1.2% |
| 2025-10-08 | $41.32 | −0.2% |
| 2025-10-07 | $41.40 | −0.1% |
| 2025-10-06 | $41.44 | −5.1% |
| 2025-10-03 | $43.67 | +0.6% |
| 2025-10-02 | $43.40 | −1.0% |
| 2025-10-01 | $43.83 | −0.3% |
| 2025-09-30 | $43.95 | +1.6% |
| 2025-09-29 | $43.25 | −0.8% |
| 2025-09-26 | $43.61 | +0.6% |
| 2025-09-25 | $43.35 | +0.4% |
| 2025-09-24 | $43.18 | −0.4% |
| 2025-09-23 | $43.35 | +0.4% |
| 2025-09-22 | $43.16 | −0.7% |
| 2025-09-19 | $43.48 | −0.4% |
| 2025-09-18 | $43.67 | −1.2% |
| 2025-09-17 | $44.21 | +1.1% |
| 2025-09-16 | $43.74 | −0.3% |
| 2025-09-15 | $43.87 | −0.2% |
| 2025-09-12 | $43.97 | −0.4% |
| 2025-09-11 | $44.14 | +1.5% |
| 2025-09-10 | $43.49 | −0.2% |
| 2025-09-09 | $43.57 | +0.6% |
| 2025-09-08 | $43.32 | −2.4% |
| 2025-09-05 | $44.38 | +0.5% |
| 2025-09-04 | $44.18 | +1.0% |
| 2025-09-03 | $43.74 | −0.1% |
| 2025-09-02 | $43.80 | −1.0% |
| 2025-08-29 | $44.23 | +0.7% |
| 2025-08-28 | $43.93 | −0.8% |
| 2025-08-27 | $44.27 | +0.7% |
| 2025-08-26 | $43.96 | −0.6% |
| 2025-08-25 | $44.23 | −0.5% |
| 2025-08-22 | $44.44 | −1.3% |
| 2025-08-21 | $45.03 | −0.1% |
| 2025-08-20 | $45.06 | +0.3% |
| 2025-08-19 | $44.94 | +1.2% |
| 2025-08-18 | $44.39 | +0.3% |
| 2025-08-15 | $44.24 | +1.7% |
| 2025-08-14 | $43.50 | −0.5% |
| 2025-08-13 | $43.71 | +1.1% |
| 2025-08-12 | $43.25 | +0.2% |
| 2025-08-11 | $43.18 | +0.1% |
| 2025-08-08 | $43.15 | +0.5% |
| 2025-08-07 | $42.95 | +1.4% |
| 2025-08-06 | $42.35 | −0.7% |
| 2025-08-05 | $42.67 | −0.7% |
| 2025-08-04 | $42.95 | +0.2% |
| 2025-08-01 | $42.88 | +0.3% |
| 2025-07-31 | $42.76 | +0.4% |
| 2025-07-30 | $42.60 | −0.3% |
| 2025-07-29 | $42.71 | +0.8% |
| 2025-07-28 | $42.36 | −1.7% |
| 2025-07-25 | $43.08 | 0.0% |
| 2025-07-24 | $43.08 | +0.6% |
| 2025-07-23 | $42.84 | −0.3% |
| 2025-07-22 | $42.96 | +1.1% |
| 2025-07-21 | $42.49 | +4.0% |
| 2025-07-18 | $40.84 | −0.3% |
| 2025-07-17 | $40.95 | −0.7% |
| 2025-07-16 | $41.25 | 0.0% |
| 2025-07-15 | $41.26 | −0.8% |
| 2025-07-14 | $41.58 | −0.1% |
| 2025-07-11 | $41.62 | −1.0% |
| 2025-07-10 | $42.03 | −1.4% |
| 2025-07-09 | $42.61 | −1.0% |
| 2025-07-08 | $43.06 | +0.6% |
| 2025-07-07 | $42.80 | −1.7% |
| 2025-07-03 | $43.55 | −0.1% |
| 2025-07-02 | $43.59 | −0.2% |
| 2025-07-01 | $43.68 |
The chart ends at the Oct. 23 close, the last trading day before the third-quarter results. Source: Tiingo end-of-day closes, as traded, via KeyVex.
How Verizon says it got the lines back
Schulman said Verizon isn't "competing on promotions or free phones or subsidies."Call In the results, he credited "customer-first offerings like Simplicity and our expanded loyalty program over heavy subsidies."8-K Simplicity is Verizon's new plan, sold without a subsidized phone, finance chief Tony Skiadas said on the call.8-KCall
Verizon's promotional spending to win new customers fell 41% from a year earlier, and its spending to keep existing ones fell 30%.8-K Fewer customers upgraded their phones: 2.6% of postpaid lines did in the quarter, against 3.3% a year earlier. Equipment revenue fell 9.0%, mainly because of fewer upgrades and less spending on phone subsidies, Verizon said.8-K
"Net adds are easy if your cost of acquisition goes way up and you give away a free line," Schulman told analysts on the Oct. 26 call.Call He said the quarter had none. "Every new line we added delivered revenue. There were no free lines," he said.Call Skiadas said Verizon did "extremely well" in single-line and two-line accounts, groups where it had historically lagged.Call
View the data
| Quarter | Phone lines added, net (thousands) | Note |
|---|---|---|
| Q4 2024 | 504K | |
| Q1 2025 | -289K | |
| Q2 2025 | -9K | |
| Q3 2025 | 44K | |
| Q4 2025 | 616K | Schulman's first quarter as chief executive |
| Q1 2026 | 55K | |
| Q2 2026 | 184K | |
| Q3 2026 | 406K | Best third quarter in five years, Verizon says |
Each quarter as Verizon reported it in its quarterly results. Source: Verizon's quarterly results, Form 8-K Exhibit 99.
Verizon now expects 1.1 million to 1.2 million postpaid phone additions for 2026, more than three times its 2025 result. Before, it had forecast the upper half of 750,000 to 1 million.8-K
What each account brings in
Verizon had 94.5 million postpaid phone lines at Sept. 30, 1.4% more than a year earlier, on 34.5 million postpaid accounts, about the same number as a year earlier.8-K The average service revenue it got from each postpaid account was $168.08 in the third quarter, down 1.9% from $171.27 a year earlier.8-K It was also lower than a year earlier in the first quarter, by 1.9%, and in the second, by 1.4%.8-K8-K
Asked by UBS analyst John Hodulik about pricing, Schulman said he is not against raising prices as long as Verizon adds value, and that there is "potentially room for us to adjust that price-to-value equation by increasing pricing as well."Call
Wireless service revenue is what customers pay for service on Verizon's wireless network. Skiadas gave the third-quarter figure on the call, "just over $20.9 billion," against the $21.0 billion Verizon reported a year earlier.Call8-K It was up from the second quarter, Schulman said: "Wireless service revenue once again improved sequentially, and we expect to see year-over-year growth in Q4."Call
Wireless service revenue growth will be approximately flat in 2026 as the company transitions to sustainable volume-based growth.
Where Verizon reports the figure now
Since the first quarter, Verizon's results tables no longer show wireless service revenue. Verizon said in a March 13 filing that, from the first quarter, it would break out segment revenue as "mobility and broadband service revenue," wireless equipment revenue and other revenue.8-K That broader line, $23.5 billion in the third quarter, grew 2.9%.8-K It includes home internet and, since Jan. 20, the fiber business it gained by buying Frontier Communications.8-K
Verizon still gives the figure in a note to its quarterly reports to the SEC, the 10-Q. Those show wireless service revenue of $20.6 billion in the first quarter, down from $20.8 billion a year earlier, and $20.8 billion in the second, down from $20.9 billion.10-Q10-Q Verizon said the January network outage cut 0.8 percentage point from first-quarter wireless service revenue growth. Its first- and second-quarter results repeated the forecast that the figure would be about flat for 2026.8-K8-K
KeyBanc Capital Markets analyst Brandon Nispel called Verizon's new reporting structure an "investor unfriendly move" in a March note, Light Reading reported.Light Reading He said it left a "lack of comparability to understand how the turnaround is progressing," according to Light Reading.Light Reading
Where the turnaround shows
Total revenue rose 1.5% to $34.3 billion.8-K That was below the analysts' consensus estimate of $34.77 billion, Investing.com reported.Investing.com
Net income was $5.3 billion, up 5.2%. Adjusted EBITDA was $13.8 billion, up 8.0%, the most Verizon has reported in a quarter.8-K Free cash flow, the cash left after capital spending, was $18.0 billion in the first nine months, up 14.3%. In that time Verizon paid $8.8 billion in dividends and spent $4.0 billion buying back stock.8-K
Verizon has named its own date. Its chief executive expects wireless service revenue to grow from a year earlier in the fourth quarter, in a year Verizon forecast as about flat.Call8-K
What to watch
Verizon expects wireless service revenue to grow from a year earlier, and mobility and broadband service revenue to grow about 4%.
Verizon expects more than 32 million fiber passings, the homes and businesses its fiber can reach.
Verizon's third-quarter 10-Q, with its note on wireless service revenue. Its second-quarter 10-Q came seven days after its results.
Fourth-quarter results. Verizon reported the fourth quarter of 2025 on Jan. 30, 2026.
Verizon expects to reach its target leverage range, a ratio of debt to adjusted EBITDA, its finance chief said on the call.
The paper trail
Verizon's SEC filings cited in this story, Oct. 6, 2025 through Oct. 26, 2026, with the time EDGAR accepted each one.
| Filed (ET) | Form | Filer | What it shows |
|---|---|---|---|
| Oct. 6, 2025, 8:38 a.m. | 8-K | Verizon | Dan Schulman named chief executive on Oct. 4; Hans Vestberg steps down. |
| Jan. 30, 6:30 a.m. | 8-K | Verizon | Fourth-quarter 2025 results: 616,000 phone lines added. 2026 outlook: wireless service revenue about flat. |
| March 13, 4:10 p.m. | 8-K | Verizon | New revenue reporting from the first quarter: mobility and broadband service revenue. |
| April 27, 7:00 a.m. | 8-K | Verizon | First-quarter results: 55,000 phone lines added; revenue per account down 1.9%. |
| May 1, 10:05 a.m. | 10-Q | Verizon | Wireless service revenue $20.6 billion in the first quarter, against $20.8 billion a year earlier. |
| July 24, 7:00 a.m. | 8-K | Verizon | Second-quarter results: 184,000 phone lines added; revenue per account down 1.4%. |
| July 31, 10:27 a.m. | 10-Q | Verizon | Wireless service revenue $20.8 billion in the second quarter, against $20.9 billion a year earlier. |
| Oct. 26, 7:00 a.m. | 8-K | Verizon | Third-quarter results: 406,000 phone lines added; revenue per account down 1.9%; forecasts raised. |
Related coverage
Sources
15 sources, 10 of them public records
Public records
- Verizon Communications Inc., Form 8-K, Exhibit 99: third-quarter 2026 resultsSEC EDGAR · Oct. 26, 2026
- Verizon Form 8-K filing index (acceptance time)SEC EDGAR · Oct. 26, 2026
- Verizon Communications Inc., Form 8-K, Exhibit 99: second-quarter 2026 resultsSEC EDGAR · July 24, 2026
- Verizon Communications Inc., Form 8-K, Exhibit 99: first-quarter 2026 resultsSEC EDGAR · April 27, 2026
- Verizon Communications Inc., Form 8-K, Exhibit 99: fourth-quarter 2025 results and 2026 outlookSEC EDGAR · Jan. 30, 2026
- Verizon Communications Inc., Form 8-K, Exhibit 99: third-quarter 2025 resultsSEC EDGAR · Oct. 29, 2025
- Verizon Communications Inc., Form 10-Q for the quarter ended March 31, 2026SEC EDGAR · May 1, 2026
- Verizon Communications Inc., Form 10-Q for the quarter ended June 30, 2026SEC EDGAR · July 31, 2026
- Verizon Communications Inc., Form 8-K: revised presentation of segment revenueSEC EDGAR · March 13, 2026
- Verizon Communications Inc., Form 8-K: appointment of Daniel H. Schulman as chief executiveSEC EDGAR · Oct. 6, 2025
Reporting
- Earnings call transcript: Verizon Q3 2026Investing.com · Oct. 26, 2026
- "Verizon beats profit estimates, raises guidance"Investing.com, via Yahoo Finance · Oct. 26, 2026
- "Verizon's reporting changes 'investor unfriendly': analyst"Light Reading · March 16, 2026
Data
- End-of-day prices for VZ, and for SPY and QQQ on the chart (Tiingo)KeyVex · through Oct. 23, 2026
- The chart's Filings layer: KeyVex's Congress trade, insider trade, Form 144, 8-K and lobbying records for VZKeyVex · through Oct. 23, 2026
How we got these numbers
- Prices are end-of-day closes as traded, not adjusted for dividends. Daily moves are close to close. Every Verizon close in the chart's Story range is in its data table. The S&P 500 and Nasdaq 100 lines follow SPY and QQQ, also as traded, rebased to Verizon's close at the start of the range shown. The Filings switch shows the filing markers from KeyVex's Verizon stock page, a selection of congressional trades, insider sales, Form 144 notices, 8-Ks and lobbying filings: not every filing, and not only those tied to this story. The chart ends at the Oct. 23 close; Verizon reported before the market opened on Oct. 26.
- Phone line additions are Verizon's total postpaid phone net additions as it reported them. For 2025's first three quarters the figures come from the 2026 releases, which give the year-earlier quarter beside each; the fourth quarters of 2024 and 2025 come from the fourth-quarter 2025 release.
- Revenue per account is Verizon's wireless retail postpaid ARPA, its average service revenue per retail postpaid account, as each 2026 release states it beside the year-earlier figure. On the same total-company measure, ARPA had risen from a year earlier in the third and fourth quarters of 2025, by 1.7% and 1.0%, Verizon's 2025 results show.
- The third-quarter 2026 wireless service revenue figure comes from the finance chief's remarks on the earnings call, as transcribed by Investing.com; Verizon's results tables no longer show it. The first- and second-quarter figures come from the revenue note in Verizon's 10-Qs. The year-earlier $21.0 billion is from Verizon's third-quarter 2025 results. Quotes from the call are from Investing.com's transcript.