Subscriber Growth and Cash Flow Defense: Verizon Reveals 2025 Performance and 2026 Blueprint

Verizon Communications Inc. (NYSE: VZ) today reported that it met its full-year 2025 guidance with revenues of $138.2 billion, net income per share of $4.06 and adjusted EPS of $4.71, while generating free cash flow of $20.1 billion.

In the fourth quarter, combined net additions in mobility and broadband topped one million, including 616,000 postpaid phone net adds—the highest quarterly total since 2019.

On January 20, Verizon completed its acquisition of Frontier’s broadband assets, expanding its fiber-service reach to more than 30 million homes and businesses. For 2026, the company is targeting retail postpaid phone net adds to grow by two to three times, mobility and broadband service revenues to increase by 2–3%, adjusted EPS of $4.90–$4.95, and at least $21.5 billion in free cash flow.

On January 14, a major network outage disrupted wireless voice, text and data services for several hours across key U.S. cities, inconveniencing users nationwide.

Verizon has announced a webcast to accompany its fourth-quarter 2025 earnings release, where management is expected to provide a strategic update and any additional guidance.

As one of the “Big Three” U.S. carriers—alongside AT&T and T-Mobile—Verizon offers mobile service, wireline broadband and enterprise networking. With surging 5G and broadband investments and intensifying competition from cable operators entering wireless resale, leading carriers are expanding both their fiber footprints and wireless networks to strengthen economies of scale.