Why it matters
- Verizon said Monday, Oct. 26, that third-quarter revenue rose 1.5% to $34.3 billion and adjusted EPS rose 8.3% to $1.31. TipRanks said analysts expected about $34.85 billion in revenue and $1.27 in adjusted EPS.
- The carrier added 406,000 postpaid phone customers, up from 44,000 a year earlier, and raised its 2026 guidance for the third straight quarter, including adjusted EPS of $5.04 to $5.06.
- Verizon shares closed at $43.10, down 3.5% from Friday's close of $44.66, according to Yahoo Finance daily data, while the Dow rose 0.3%.
Verizon shares fell 3.5% on Monday, Oct. 26, after the wireless carrier's third-quarter revenue came in below Wall Street estimates, even as it added more phone customers and raised its full-year outlook. The stock closed at $43.10, down from Friday's close of $44.66, according to Yahoo Finance daily data.
Verizon said total operating revenue rose 1.5% to $34.3 billion, in results filed with the Securities and Exchange Commission on Monday. That was short of the roughly $34.85 billion analysts expected, TipRanks reported. Adjusted earnings per share rose 8.3% to $1.31, above the $1.27 consensus cited by TipRanks.
Why did Verizon stock fall after earnings?
Revenue missed estimates, and that outweighed the good news, according to 24/7 Wall St. and TipRanks. Equipment revenue fell 9.0% to $5.1 billion. Verizon said that was mainly because fewer customers upgraded phones and it spent less on device subsidies.
Shares traded between $42.47 and $43.84 during the session, Yahoo Finance data show. The Dow Jones Industrial Average rose 0.3% and the S&P 500 rose 0.7% on the day.
Verizon third-quarter 2026 results at a glance
| Measure | Q3 2026 | Change from a year earlier |
|---|---|---|
| Total operating revenue | $34.3 billion | +1.5% |
| Net income | $5.3 billion | +5.2% |
| EPS | $1.25 | +6.8% |
| Adjusted EPS | $1.31 | +8.3% |
| Adjusted EBITDA | $13.8 billion | +8.0% |
| Free cash flow | $7.8 billion | +12.1% |
| Postpaid phone net adds | 406,000 | vs. 44,000 |
Source: Verizon's third-quarter release, filed as an exhibit to its Oct. 26 Form 8-K.
Postpaid phone churn improved to 0.94%, and Verizon added 314,000 broadband customers, including 155,000 on fiber. Chief Executive Dan Schulman said in the release, "Verizon delivered another record-breaking quarter." TipRanks said the phone additions were Verizon's best third quarter in five years.
What is Verizon's 2026 outlook?
Verizon raised its 2026 guidance for the third quarter in a row. It now expects:
- Postpaid phone net additions of 1.1 million to 1.2 million, up from the upper half of 750,000 to 1 million.
- Adjusted EPS of $5.04 to $5.06, or growth of 7.0% to 7.5%, up from 6.0% to 7.0%.
- Free cash flow growth of 11.5% to 12.0%, up from 9.0% to 10.0%.
- Capital spending of $16.0 billion to $16.5 billion, unchanged.
Verizon also said it signed an agreement worth more than $2 billion with Amazon Web Services for distributed compute and AI infrastructure.
Telecom stocks have been under pressure this month. Verizon, AT&T and T-Mobile tumbled 10% to 13% on Oct. 9 after SpaceX agreed to buy spectrum for Starlink Mobile. For more company results this season, see our report on American Express's third-quarter earnings and the rest of our companies section.
Sources
- Verizon Communications, Third-quarter 2026 earnings release, Exhibit 99 to Form 8-K (Oct. 26, 2026)
- TipRanks, Verizon Stock (VZ) Falls on Q3 Revenue Miss Despite Strong Subscriber Growth, $2B Amazon Deal (Oct. 26, 2026)
- 24/7 Wall St., Verizon Falls 4% as Revenue Miss Overshadows Raised Outlook (Oct. 26, 2026)
- Yahoo Finance, chart data for VZ, the S&P 500 and the Dow Jones
