Verizon's Q3 2026 Earnings: A Year of Transformation
Verizon's third quarter 2026 earnings call revealed a company in full transformation, delivering significantly improved performance across almost all key metrics. The structurally different Verizon, as CEO Dan Schulman described it, has taken root and yielded impressive results.
The company's postpaid phone net additions skyrocketed to 406,000, an 820% year-over-year increase, making it the strongest Q3 in five years. This growth was not driven by free lines, but rather revenue-generating new lines added, totaling 1.1 million-1.2 million for the year. Postpaid phone churn improved four basis points to 94 basis points, while consumer postpaid phone churn also decreased four basis points to 87 basis points.
Verizon's broadband segment delivered 314,000 net adds, with a mix shift towards fiber, which now accounts for nearly half of its broadband net adds. The company's deliberate choice to prioritize customer demand over available network and technology has led to a more sophisticated approach to fixed wireless access (FWA). Where FWA cannot deliver the expected speeds, Verizon will no longer sell it.
In response to customer needs, Verizon's product and network teams have developed an innovative solution using millimeter wave spectrum. This will enable the delivery of 1 gig FWA products in metro areas across the country, complementing fiber builds. The company aims to substantially increase the number of premises that can be served with 1 gig of speed through FWA by 10 million to 15 million, over and above its 40 million to 50 million fiber build.
CEO Schulman proudly stated that Verizon's transformation has placed it in a fundamentally better position operationally, financially, and competitively. The company's strong operational metrics were matched by a strong quarter from a financial perspective, with mobility and broadband service revenue growing 2.9%.
The 1,700 MHz of millimeter wave spectrum has become a differentiated and competitive advantage for Verizon, creating substantial incremental efficiencies and capacity in its existing C-band spectrum. This technological breakthrough holds significant positive implications for the company.
