NEW YORK, Jan 30, 2026, 10:09 EST
- Verizon raised its 2026 adjusted profit and free cash flow forecasts, driven by a surge in postpaid phone additions that beat expectations
- In the fourth quarter, the carrier gained 616,000 postpaid phone subscribers—their strongest quarter since 2019
- Verizon greenlit up to $25 billion for share buybacks spanning three years, with a minimum of $3 billion planned for 2026
Verizon on Friday projected 2026 adjusted profit and free cash flow will beat Wall Street estimates, boosted by aggressive holiday deals that fueled its best quarterly wireless subscriber growth in six years. The telecom giant also announced a share buyback plan of up to $25 billion spanning three years. Reuters
The optimistic forecast comes as U.S. wireless carriers ramp up discounts and bundle deals to attract customers who can switch providers effortlessly. Verizon faces pressure to prove it can grow its subscriber base without relying on price hikes that might drive users off.
Dan Schulman, who stepped in as chief executive in October, has combined the growth drive with a thorough cost overhaul. “Verizon will no longer be a hunting ground for our competitors,” Schulman said.
Verizon reported gaining 616,000 postpaid phone subscribers in the fourth quarter. These postpaid customers pay monthly bills, a crucial metric for U.S. carriers since their revenue tends to be more stable than from prepaid users.
During the Black Friday and Cyber Monday frenzy, the carrier doubled down on promotions, aiming to snag customers upgrading their phones. Verizon highlighted deals like four phone lines for just $100 a month.
The surge extended beyond wireless. Verizon posted 372,000 broadband net additions last quarter, with 319,000 coming from fixed wireless access — that’s home internet via their wireless network — and 67,000 from Fios internet. Verizon release
Verizon is banking on bundling mobile and home internet services to hold onto customers and fend off competitors. Its Frontier deal, finalized on Jan. 20, boosts fiber coverage to over 30 million homes and businesses, widening the scope for selling those bundled packages.
Verizon reported fourth-quarter revenue of $36.4 billion, with adjusted earnings coming in at $1.09 per share. The adjusted figures exclude items the company considers outside its core operating performance.
Verizon forecasted adjusted earnings per share between $4.90 and $4.95 for 2026, with free cash flow hitting $21.5 billion or higher. Free cash flow, the cash remaining after capital expenditures, is expected to climb by at least 7% compared to 2025.
The company expects 750,000 to 1 million retail postpaid phone net additions in 2026—about two to three times its 2025 numbers. MarketWatch noted these targets reflect a more aggressive tone under Schulman following Verizon’s recent struggles. MarketWatch
Shareholder returns are stepping into the spotlight. Verizon greenlit up to $25 billion in share buybacks over the coming three years, with a minimum of $3 billion planned for 2026. This comes despite the company holding $131.1 billion in total unsecured debt at the close of 2025.
Competition shows no signs of slowing. AT&T and T-Mobile continue to roll out trade-in deals and bundle discounts, while cable companies aggressively promote budget wireless plans. Verizon, for its part, announced it updated its long-term MVNO agreement with Charter and Comcast, who resell service on Verizon’s network.
The script carries risks. Promotions might boost subscriber numbers but squeeze margins, and Verizon forecasts wireless service revenue to stay roughly flat in 2026 as it moves toward “volume-based growth.” The Frontier integration ramps up execution challenges, with competitors ready to strike quickly.
Schulman described the guidance as a signpost, not a celebration. “We are exiting 2025 with strong momentum,” he said, emphasizing Verizon’s commitment to “healthy volumes and fiscally responsible growth.”
