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Verizon beats third-quarter earnings targets, lifts guidance and inks $2B AWS deal

Verizon reported third-quarter 2026 adjusted earnings of $1.31 per share, beating Wall Street expectations, raised its full-year profit outlook, and announced an artificial intelligence infrastructure deal with Amazon Web Services valued at more than $2 billion.

Red Verizon corporate logo on a white background.
Image: @wallstengine

Verizon posted adjusted earnings per share of $1.31 for the third quarter of 2026, topping consensus estimates of $1.27 and rising 8.3% from a year earlier. Revenue rose 1.5% year over year to $34.30 billion, missing analyst projections of $34.74 billion, while adjusted EBITDA reached $13.80 billion and free cash flow increased 12.1% to $7.8 billion.[1][4]

The telecommunications carrier logged 406,000 postpaid phone net additions, nearly double the 209,000 anticipated by analysts, alongside 314,000 broadband net additions. According to Bloomberg, the wireless customer gains represented Verizon's strongest third-quarter performance in five years.[1][3][4]

Alongside its quarterly results, Verizon unveiled an AI infrastructure deal with Amazon Web Services valued at over $2 billion. Barron's reported the agreement involves supplying fiber-optic cables to Amazon data centers. On the back of subscriber momentum, Verizon lifted its full-year 2026 adjusted EPS guidance to a range of $5.04 to $5.06 and raised its full-year postpaid phone net additions target to 1.1 million to 1.2 million.[1][2][4][5]

Key facts

  • Verizon reported third-quarter 2026 adjusted EPS of $1.31, beating the $1.27 consensus estimate.
  • Third-quarter revenue rose 1.5% year over year to $34.30 billion, missing analyst expectations of $34.74 billion.
  • Verizon added 406,000 postpaid phone subscribers during the quarter, topping forecasts of 209,000.
  • According to Bloomberg, Verizon's quarterly wireless additions marked its strongest third quarter in five years.
  • The company entered an AI infrastructure deal valued at over $2 billion with Amazon Web Services to provide fiber-optic cables to Amazon data centers.
  • Verizon increased its full-year 2026 adjusted EPS guidance to between $5.04 and $5.06 and raised its postpaid phone net addition forecast to 1.1 million to 1.2 million.

Sources · 5 sources

  1. WS

    Wall St Engine@wallstenginePost on X ·

    VERIZON $VZ Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $34.30B (Est. $34.74B) 🔴; +1.5% YoY 🔹 Adj. EPS: $1.31 (Est. $1.27) 🟢; +8.3% YoY 🔹 Adj. EBITDA: $13.80B (Est. $13.71B) 🟢 🔹 Free Cash Flow: $7.8B; +12.1% YoY Raises FY26 Guide: 🔹 Adj. EPS: $5.04-$5.06 (Est. $5.04) 🟡 🔹 Postpaid Phone Net Adds: 1.1M-1.2M; from upper half of 750K-1.0M 🔹 Cash Flow From Operations Growth: ~+3.5%-+5.0%; from +2.0%-+4.0% 🔹 FCF Growth: ~+12.0%; from +9.0%-+10.0% 🔹 M&B Service Revenue Growth: upper half of +2.5%-+3.0% 🔹 Capital Expenditures: $16.0B-$16.5B Q4 Guide: 🔹 M&B Service Revenue Growth: ~+4.0% Segment Revenue: 🔹 Consumer Revenue: $26.43B (Est. $26.90B) 🔴 🔹 Business Revenue: $7.02B (Est. $7.19B) 🔴 Consumer: 🔹 Segment EBITDA: $11.97B 🔹 Segment EBITDA Margin: 45.3%; vs 43.0% LY Business: 🔹 Segment EBITDA: $1.94B 🔹 Segment EBITDA Margin: 27.6%; vs 25.1% LY Mobility & Broadband (Q3): 🔹 Service Revenue: ~$23.5B; +2.9% YoY 🔹 Postpaid Phone Net Adds: 406,000 🔹 Postpaid Net Account Adds: 137,000 🔹 Broadband Net Adds: 314,000 🔹 Fixed Wireless Net Adds: 159,000 🔹 Fiber Net Adds: 155,000 🔹 Fixed Wireless & Fiber Connections: ~17.4M Other Q3 Metrics: 🔹 Adj. EBITDA Margin: 40.2%; vs 37.8% LY 🔹 Operating Cash Flow: $11.5B; +2.2% YoY 🔹 GAAP EPS: $1.25; vs $1.17 LY 🔹 Postpaid Phone Churn: 0.94% Key Updates: 🔹 Amortization of acquisition-related intangible assets: $0.05/share 🔹 Acquisition and integration related charges: $0.01/share 🔹 AWS AI Infrastructure Deal: $2.0B+ Comments: 🔸 “By prioritizing customer-first offerings like Simplicity and our expanded loyalty program over heavy subsidies, we are winning loyal, high-value customers while expanding margins, reducing churn, and generating strong sustained cash flow.”

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  2. CN

    CNBC@CNBCPost on X ·

    Verizon lifts annual forecasts, signs more than $2 billion AI infrastructure deal with AWS https://t.co/ZJ2EBcqjpj

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  3. BL

    Bloomberg@businessPost on X ·

    Verizon reported its strongest third-quarter performance in wireless customer additions in five years, more than twice analysts’ expectations https://t.co/z3t5FmYS6B

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  4. *B

    *Walter Bloomberg@DeItaonePost on X ·

    $VZ - VERIZON BEATS EPS ESTIMATES, ADDS TWICE AS MANY PHONE SUBSCRIBERS AS EXPECTED Verizon Q3 results: 🔸 Adjusted EPS: $1.31 vs. $1.27 expected 🔸 Revenue: $34.3B vs. $34.74B expected 🔸 Postpaid phone additions: 406K vs. 209K expected 🔸 Broadband additions: 314K Verizon also announced an AI infrastructure deal with Amazon Web Services worth over $2B. FY guidance: Adjusted EPS of $5.04–$5.06, with 1.1M–1.2M postpaid phone additions. The key takeaway: Strong subscriber growth and an AWS AI deal offset a modest revenue miss, while Verizon maintains its capex outlook. Related tickers: $VZ, $AMZN, $T Source: Verizon Q3 Earnings Release

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  5. BA

    Barron's@barronsonlinePost on X ·

    Verizon beats Wall Street’s earnings target and signs a deal to provide fiberoptic cables to Amazon data centers. https://t.co/g0m4rrMLqO

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