Verizon forecasts strong profit growth as wireless subscriber gains hit six-year high

Verizon on Friday issued an upbeat outlook for 2026, forecasting annual profit and free cash flow above Wall Street expectations after strong holiday promotions helped drive its best quarterly wireless subscriber growth in six years.

The U.S. telecom giant said aggressive device deals and bundled plans during the peak shopping season paid off, as more customers switched carriers around Black Friday and Cyber Monday. Verizon shares climbed about 4% in premarket trading following the update.

In the fourth quarter, Verizon added 616,000 monthly bill-paying wireless phone subscribers, far exceeding the 417,250 additions analysts had expected, according to FactSet. Popular promotions, including offers such as four phone lines for $100 per month, helped attract cost-conscious consumers.

Looking ahead, Verizon is betting on deeper integration between its wireless and broadband services to sustain growth. The company said its fiber footprint, strengthened by the Frontier acquisition, is helping support bundled offerings that combine mobile service with high-speed home internet.

Verizon now has more than 16.3 million fixed wireless access and fiber broadband connections following the Frontier deal, underscoring the growing importance of fiber infrastructure in winning and retaining wireless customers.

“Verizon will no longer be a hunting ground for our competitors,” CEO Dan Schulman said.

Since taking over in October, Schulman has moved to streamline operations, including announcing more than 13,000 job cuts as part of a broader cost-reduction and restructuring effort.

For 2026, Verizon expects to add between 750,000 and 1 million retail postpaid phone subscribers, a sharp increase from the 362,000 added in 2025.

The company forecast adjusted earnings of $4.90 to $4.95 per share for 2026, compared with analysts’ estimates of $4.76, according to LSEG. Verizon also expects annual free cash flow of at least $21.5 billion, topping expectations of $20.96 billion, based on Visible Alpha data.

Fourth-quarter revenue came in at $36.4 billion, slightly ahead of estimates of $36.06 billion, reflecting continued strength in its core wireless business.