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Get filing alertsVerizon reports record Q2 EBITDA, raises full-year guidance, expands buyback to up to $4.5B
Filed July 24, 2026 · Period ending July 24, 2026 · ~1 min read
Key Changes
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high
Q2 adjusted EBITDA hit record $13.7B (up 7.2% YoY) with record 40.1% margin; adjusted EPS grew 6.6% to $1.30; first-half free cash flow surged 16.0% to $10.2B
Exhibit 99 view on EDGAR → -
high
Raised full-year guidance: mobility/broadband service revenue growth to 2.5–3.0%, adjusted EPS to $4.99–$5.04 (6.0–7.0% growth), free cash flow growth to 9.0–10.0%
Exhibit 99 view on EDGAR → -
high
Expanded share buyback target to up to $4.5B (from prior target); completed $3.5B YTD; returned $9.4B total capital to shareholders in first half
Exhibit 99 view on EDGAR → -
high
Added 184,000 postpaid phone subscribers in Q2 (best Consumer Q2 in five years); total mobility/broadband net adds exceeded 550,000 (up 230,000+ YoY)
Exhibit 99 view on EDGAR → -
medium
Classified international wireline connectivity/managed network services business as held for sale, recording $746M pre-tax loss; incurring Frontier acquisition integration charges
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR →
Summary
Verizon delivered a strong second quarter with record profitability and accelerating subscriber growth, prompting the company to raise full-year guidance for the second consecutive quarter. Adjusted EBITDA reached an all-time high of $13.7 billion with a record 40.1% margin, while adjusted EPS grew 6.6% to $1.30.
First-half free cash flow jumped 16.0% to $10.2 billion, enabling the company to expand its share buyback target to up to $4.5 billion and return $9.4 billion in total capital to shareholders year-to-date.
Subscriber momentum improved markedly, with 184,000 postpaid phone net additions (the best Consumer second quarter in five years) and total mobility and broadband net additions more than doubling versus the prior-year first half. The company raised full-year guidance across the board: mobility and broadband service revenue growth is now expected at 2.5% to 3.0% (with acceleration to approximately 4.0% in Q4), adjusted EPS at $4.99 to $5.04 (6.0% to 7.0% growth), and free cash flow growth at 9.0% to 10.0%. Management attributes the performance to its customer-first transformation, new Simplicity plans, and improved unit economics. Verizon is also rationalizing its portfolio, classifying its international wireline connectivity and managed network services business as held for sale (recording a $746 million pre-tax loss) and incurring integration charges related to the January 2026 Frontier acquisition. The combination of record profitability, accelerating subscriber growth, and increased capital returns signals strong execution of the company's transformation strategy.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Verizon disclosed Q2 2026 earnings results via press release and financial tables, including non-GAAP measures and reconciliations.
Added in current filing · verify on EDGAR →
Attached as an exhibit hereto are a press release and financial tables, dated July 24, 2026, issued by Verizon Communications Inc. (Verizon).
Verizon disclosed its second quarter 2026 financial results through a press release and accompanying financial tables. The 8-K references these exhibits but does not include the actual results in the body text — investors must review the attached Exhibit 99 for revenue, earnings, subscriber metrics, and guidance.
Added in current filing · verify on EDGAR →
Acquisition and integration related charges recorded during 2026 and 2025 primarily relate to transaction and integration expenses associated with the acquisition of Frontier Communications Parent, Inc. completed in January 2026.
Verizon completed the acquisition of Frontier Communications in January 2026 and is incurring transaction and integration expenses in 2026 and 2025. These charges are excluded from Adjusted EBITDA and Adjusted EPS to facilitate period-over-period comparisons, but investors should monitor the magnitude and duration of integration costs.
Added in current filing · verify on EDGAR →
Asset rationalization recorded during 2026 relates to the decision to cease use of certain real estate and network assets as part of our transformation initiatives. ... Loss on disposition of business recorded during 2026 relates to the classification of the assets and liabilities representing Verizon's international wireline connectivity and managed network services business as assets and liabilities held for sale.
Verizon is exiting certain real estate and network assets as part of transformation initiatives and has classified its international wireline connectivity and managed network services business as held for sale, recording a loss. These actions suggest portfolio rationalization to focus on core operations, but the financial impact and strategic rationale require review of the attached financials.
Event · Exhibit 99
Verizon reported Q2 2026 earnings with record adjusted EBITDA, raised full-year guidance, and expanded share buyback target to up to $4.5 billion.
Added in current filing · verify on EDGAR → · paraphrased
Mobility and broadband service revenue reached approximately $23.4 billion, representing a 2.8 percent increase year-over-year. ... Consolidated adjusted EBITDA grew 7.2 percent year-over-year to $13.7 billion, the highest the company ever reported. ... Consolidated adjusted EBITDA margin grew from 37.1 to 40.1 percent, the highest the company ever reported. ... adjusted EPS, excluding special items, was $1.30 in second-quarter 2026, a 6.6 percent increase compared to $1.22 in second-quarter 2025. ... Free cash flow was $10.2 billion for the first-half of 2026 compared to $8.8 billion for the first-half of 2025, representing a growth rate of 16.0 percent.
Verizon reported strong Q2 2026 results with mobility and broadband service revenue up 2.8% year-over-year to approximately $23.4 billion. The company achieved record adjusted EBITDA of $13.7 billion (up 7.2%) and a record adjusted EBITDA margin of 40.1%. Adjusted EPS grew 6.6% to $1.30, and first-half free cash flow surged 16.0% to $10.2 billion. Based on this performance, Verizon raised full-year guidance for the second consecutive quarter.
Added in current filing · view on EDGAR →
Delivered 184,000 postpaid phone net additions, with the best Consumer second-quarter postpaid phone net additions in the past five years ... Generated more than 550,000 total mobility and broadband net additions in second-quarter 2026, an increase of more than 230,000 compared to second-quarter 2025 ... Delivered more than 1 million mobility and broadband net additions in first-half of 2026, more than doubling the mobility and broadband net additions in first-half of 2025
Verizon added 184,000 postpaid phone subscribers in Q2 2026, the best Consumer second-quarter result in five years. Total mobility and broadband net additions exceeded 550,000 in Q2 (up over 230,000 year-over-year), and first-half net additions surpassed 1 million, more than double the prior-year period. The company attributes this momentum to its customer-first transformation, new Simplicity plans, and improved unit economics.
Added in current filing · view on EDGAR → · paraphrased
Mobility and broadband service revenue growth for 2026 to be 2.5 to 3.0 percent, with wireless service revenue growth approximately flat in 2026 as the company transitions to sustainable volume-based growth. Total mobility and broadband service revenue growth is expected to approach 3.0 percent in third-quarter 2026 and approximately 4.0 percent in fourth-quarter 2026, accelerating from the 2.8 percent increase reported in the second-quarter 2026. ... Adjusted EPS of $4.99 to $5.04, or year-over-year growth of 6.0 to 7.0 percent, representing a significant acceleration compared to recent historical performance. ... Cash flow from operations growth of approximately 2.0 to 4.0 percent year-over-year. ... Free cash flow growth of 9.0 to 10.0 percent year-over-year.
Verizon raised its full-year 2026 guidance across multiple metrics. Mobility and broadband service revenue growth is now expected at 2.5% to 3.0%, with acceleration to approximately 4.0% in Q4. Adjusted EPS guidance increased to $4.99 to $5.04 (6.0% to 7.0% growth). Operating cash flow growth is projected at 2.0% to 4.0%, and free cash flow growth at 9.0% to 10.0%. This marks the second consecutive quarter of guidance raises.
Added in current filing · view on EDGAR → · paraphrased
Verizon successfully completed $1.0 billion of share repurchases in second-quarter 2026, bringing year-to-date repurchases to $3.5 billion. The full-year share repurchase target has been raised to up to $4.5 billion. ... Returned $9.4 billion in total capital to shareholders in first-half of 2026 while expanding the full-year share buyback target to up to $4.5 billion
Verizon completed $1.0 billion in share repurchases during Q2 2026, bringing year-to-date buybacks to $3.5 billion. The company expanded its full-year share buyback target to up to $4.5 billion and returned a total of $9.4 billion to shareholders in the first half of 2026 through dividends and buybacks. This reflects strong cash generation and confidence in the business transformation.
Added in current filing · view on EDGAR →
Consolidated net income was $3.9 billion, a 22.9 percent decrease year-over-year. This decrease was primarily driven by $1.8 billion in pre-tax special items, including, among others, a $746 million loss on disposition of business in connection with the classification of the net assets representing Verizon's international wireline connectivity and managed network services business as assets and liabilities held for sale
Verizon classified its international wireline connectivity and managed network services business as held for sale in Q2 2026, resulting in a $746 million pre-tax loss on disposition. This contributed to a 22.9% decline in consolidated net income to $3.9 billion. The business was moved from the Business segment to Corporate and other. Excluding special items totaling $1.8 billion, adjusted EPS grew 6.6%.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 27, 2026 · How we verify