NEW YORK, Feb 17, 2026, 15:03 EST — Regular session
- Verizon shares up about 0.2% in afternoon trading
- Annual report shows higher 2025 free cash flow and wireless service revenue, with debt also higher
- Investors turn to late-February and early-March conference appearances for fresh signals on 2026 execution
Verizon Communications Inc shares rose about 0.2% to $49.13 in afternoon trading on Tuesday after briefly touching $49.46 earlier in the session.
The U.S. wireless carrier’s annual report for the year ended Dec. 31, 2025 showed net income attributable to Verizon of $17.2 billion and free cash flow rose to $20.1 billion, while wireless service revenue climbed to $83.7 billion; total debt ended 2025 at $158.2 billion and the company flagged that the accounting impact of phone promotions will keep weighing on wireless service revenue growth in 2026. (SEC)
The filing lands at an awkward moment for telecom stocks: investors want steady cash returns, but the industry still fights in the gutter for subscribers. Verizon has to show it can add customers without buying them outright.
It also sharpens a basic question about the stock. Verizon is held for its dividend and, when the board allows it, buybacks — both of which depend on cash left after network spending.
In the filing, Verizon pointed to higher uptake of its MyPlan offerings and growth in its fixed wireless access base — home internet delivered over the mobile network — as drivers of postpaid revenue, alongside pricing actions. But it also noted that spreading the cost of device deals over time can mute reported service revenue, even when customers stick around.
Late last month, Verizon forecast 2026 adjusted profit of $4.90 to $4.95 per share and at least $21.5 billion in free cash flow, and announced a new $25 billion share repurchase program. CEO Dan Schulman said then, “Verizon will no longer be a hunting ground for our competitors.” (Reuters)
Rivals traded higher on Tuesday as well. AT&T rose about 0.3% and T-Mobile US gained about 0.7% in afternoon trading.
But the downside case for Verizon has not gone away. If promotions stay heavy, the company may have to spend more to defend its base, which can squeeze the cash cushion behind its payout — and its debt load leaves less room for missteps.
Investors’ next read on management comes quickly. Verizon’s CFO is scheduled to present at the Barclays Communications and Content Symposium on Feb. 24, followed by Schulman at the Morgan Stanley Technology, Media & Telecom Conference on March 2. (Verizon)
