Verizon Reports Significant Growth in Subscribers with New CEO at the Helm

Verizon Projects Strong Growth for the Year

Verizon has released an optimistic outlook for the upcoming year.

In the final quarter, Verizon Communications reported a net increase of 616,000 postpaid phone subscribers. The company’s CEO described this period as a pivotal turning point.

Dan Schulman, who assumed the role of CEO at the nation’s largest wireless provider in October, was tasked with implementing cost-saving measures and steering the company back on track after losing ground to competitors. In November, he initiated Verizon’s most extensive round of layoffs to date and emphasized the need for a more agile approach. Recently, Schulman faced a significant challenge when a widespread network outage disrupted service for millions of Verizon customers.

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Verizon announced on Friday that its fourth-quarter revenue climbed 2% from the previous year, reaching $36.4 billion and slightly surpassing analyst projections.

By the end of the quarter, Verizon had amassed 146.9 million wireless retail connections. The company’s wireless service division, its primary revenue driver, generated $21 billion.

Earnings per share stood at 55 cents, or $1.09 when excluding certain one-time items. Severance costs related to the recent layoffs weighed on the company’s profits.

Analysts surveyed by FactSet had anticipated around 417,000 net new postpaid phone subscribers, a figure that Verizon exceeded by a significant margin. The company achieved these gains during a fiercely competitive quarter, as both Verizon and T-Mobile US rolled out offers to attract customers from other carriers.

After recording growth during the previous year’s holiday season, Verizon experienced declines in core consumer postpaid phone subscribers for the next three quarters.

Looking ahead, Verizon expects to add between 750,000 and one million net postpaid phone subscribers this year. The company predicts that wireless service revenue will remain steady, while total revenue from mobility and broadband services is projected to increase by 2% to 3%.

In the fourth quarter, Verizon added 372,000 net broadband subscribers. The company recently finalized its $9.6 billion purchase of Frontier Communications, boosting its total number of fixed-wireless and fiber broadband connections to 16.3 million. This acquisition expands Verizon’s fiber network and supports its strategy of offering bundled mobile and home internet services.

Additionally, Verizon gained 319,000 net fixed-wireless subscribers during the quarter. Fixed-wireless services deliver internet to homes via cell towers, eliminating the need for traditional cables.

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Verizon anticipates capital expenditures between $16 billion and $16.5 billion for 2026, compared to approximately $17 billion planned for 2025.

Schulman, who previously led PayPal Holdings and served as Verizon’s lead independent director, emphasized the company’s commitment to “financially disciplined growth.”

Corrections & Clarifications

Verizon’s total fixed-wireless and fiber broadband connections reached 16.3 million following the completion of its Frontier Communications acquisition this month. A previous version of this article incorrectly stated that this milestone was achieved by the end of the fourth quarter. (Correction issued Jan. 30)