Verizon Stock Shows Turnaround Momentum with Strong Customer Growth
Verizon Communications (VZ) reported strong second-quarter results that highlight its customer-focused strategy shift is paying off. The telecom giant added a record number of postpaid phone subscriptions in five years and saw improvements in broadband additions and churn rates, signaling progress in retaining customers. Despite an overall revenue decline due to reduced device subsidies, service revenue increased by 3.5%. Business unit performance was particularly strong with a year-over-year revenue increase of 2.6%, while adjusted earnings per share rose significantly. Verizon also raised its full-year guidance for mobility and broadband service revenue growth as well as EPS. Looking ahead, the company is leveraging recent acquisitions like Frontier Communications to expand bundling opportunities and has secured new contracts such as a $1 billion deal with Alphabet involving dark fiber connections.
Tickers: $VZ
Topics: customer growth earnings report telecom