Verizon Communications Raises Full-Year Outlook Following Strong Q2 Performance
Verizon Communications (NYSE:VZ) raised its full-year outlook for mobility and broadband service revenue, adjusted earnings per share (EPS), and free cash flow after delivering stronger-than-expected second-quarter results. The company reported improved subscriber trends with 184,000 postpaid phone net additions—its strongest in five years—and over 550,000 total mobility and broadband net additions. Churn rates declined across key segments, while prepaid revenue grew by nearly 5%. Management attributed the improvement to reduced promotional spending and a shift toward customer-focused strategies like its Simplicity and Verizon One plans. Verizon also highlighted progress in fiber expansion, adding over 155,000 new broadband subscribers through fiber connections. The company raised its share repurchase commitment to $4.5 billion and signaled optimism about future AI infrastructure opportunities, including a recent multi-billion-dollar deal with Google (GOOG). CFO Tony Skiadas noted that mobility service revenue grew by 2.8% year over year in Q2, while wireless service revenue declined slightly due to lower equipment sales.
Topics: free_cash_flow revenue_forecast share_repurchase subscriber_growth telecom