Verizon Raises 2026 Forecast After Strong Wireless Growth

Verizon Communications Inc. reported its strongest third-quarter wireless customer growth in five years, adding 406,000 net monthly phone lines for the period ending September 30. This figure more than doubled Wall Street projections of 202,000 additions. Consequently, the company raised its full-year 2026 wireless subscriber forecast to between 1.1 million and 1.2 million, up from previous projections of 750,000 to 1 million, and increased its adjusted earnings per share forecast to $5.04–$5.06.

Despite the subscriber surge, third-quarter revenue of $34.3 billion missed estimates of $34.74 billion. The company attributed this shortfall to lower device upgrade volumes resulting from a reduction in device subsidies. To diversify revenue, Verizon signed a $2 billion AI infrastructure deal with Amazon Web Services for high-capacity fiber-optic connectivity, following a $1 billion dark fiber agreement with Google signed in July.

These developments are part of a broader business overhaul led by CEO Dan Schulman, which included the June launch of the Simplicity plan featuring unlimited data and transparent pricing. While the first year of the turnaround plan shows success, share prices remain volatile due to anticipated competition from Elon Musk's upcoming Starlink Mobile service.