Verizon has reported its strongest third-quarter postpaid phone net additions in five years and its best quarterly net account growth in over a decade. According to company reports, these results are part of a multi-year transformation led by CEO Dan Schulman, who took over approximately one year ago.
The company added 406,000 postpaid phone net additions in the third quarter, which represents an increase of more than 820% year-over-year. Additionally, Verizon added 137,000 postpaid net accounts. For the first nine months of 2026, the company acquired nearly 1.7 million mobility and broadband subscribers, compared to 879,000 during the same period in 2025.
CEO Dan Schulman attributed the growth to a shift away from heavy subsidies in favor of loyalty programs and "customer-first offerings" such as Simplicity. Schulman noted that the company achieved these gains without offering free lines. This strategic shift contributed to a 41% year-over-year decrease in promotional acquisition costs and a 30% improvement in promotional retention costs.
Financial results for the third quarter include:
- Total operating revenue: $34.3 billion, a 1.5% increase year-over-year. However, Fierce Network reports this figure missed expectations of $34.85 billion.
- Mobility and broadband service revenue: $23.5 billion, up 2.9% year-over-year.
- Consolidated net income: $5.3 billion, a 5.2% increase year-over-year.
- Equipment revenue: Declined 9% year-over-year, which the company attributed to a strategic reduction in device subsidies and customers keeping their mobile devices longer.
In the broadband sector, Verizon delivered 314,000 net additions, consisting of 159,000 fixed wireless access (FWA) additions and 155,000 fiber broadband additions. While the company views these as strong results, Fierce Network notes that Wolf Research analyst Peter Supino stated both fiber and FWA net adds missed expectations.
Verizon is expanding its infrastructure through "AI Connect," an initiative launched in 2025. The company recently announced a dark fiber agreement with Amazon Web Services valued at over $2 billion, following a $1 billion agreement with Google. Additionally, Verizon has entered a multi-billion-dollar deal with Corning for more than 80 million miles of fiber through 2032.
Regarding FWA, Schulman stated the company will use its millimeter wave spectrum to provide 1 gig speeds in metro areas. He aims to increase the number of premises served by 1 gig FWA by 10 to 15 million over the medium term. This is in addition to a target of 40 to 50 million fiber passings.
Following these results, Verizon has raised its full-year guidance for the third consecutive quarter. The company now expects 2026 postpaid phone net adds to reach between 1.1 and 1.2 million.
HOT covers what Americans are searching for most right now. Sources: Verizon: https://www.verizon.com/about/news/verizon-delivers-another-record-breaking-quarter Fierce Network: https://www.fierce-network.com/broadband/verizon-ceo-schulman-says-hes-demanding-employees-its-paying Machine-written by gemma4:31b-cloud from those reports. Fact check against them by gpt-oss:120b-cloud.
Facts Only
* Verizon added 406,000 postpaid phone net additions in the third quarter, an increase of more than 820% year-over-year.
* Verizon added 137,000 postpaid net accounts.
* For the first nine months of 2026, the company acquired nearly 1.7 million mobility and broadband subscribers, compared to 879,000 in 2025.
* CEO Dan Schulman attributed growth to a shift away from heavy subsidies toward loyalty programs and customer-first offerings like Simplicity.
* This strategic shift resulted in a 41% year-over-year decrease in promotional acquisition costs and a 30% improvement in promotional retention costs.
* Total operating revenue for the third quarter was $34.3 billion, a 1.5% increase year-over-year.
* Mobility and broadband service revenue was $23.5 billion, up 2.9% year-over-year.
* Consolidated net income was $5.3 billion, a 5.2% increase year-over-year.
* Equipment revenue declined 9% year-over-year due to reduced device subsidies and customers keeping devices longer.
* Broadband saw 314,000 net additions: 159,000 fixed wireless access (FWA) and 155,000 fiber broadband additions.
* Verizon announced a dark fiber agreement with Amazon Web Services valued at over $2 billion, following a $1 billion agreement with Google.
* The company plans to increase the number of premises served by 1 gig FWA by 10 to 15 million and targets 40 to 50 million fiber passings.
* Full-year guidance was raised, expecting 2026 postpaid phone net adds to reach between 1.1 and 1.2 million.
Executive Summary
Verizon reported its strongest third-quarter postpaid phone net additions in five years and its best quarterly net account growth in over a decade, outcomes attributed to a multi-year transformation led by CEO Dan Schulman. The company added 406,000 postpaid phone net additions in the third quarter, representing an increase of more than 820% year-over-year, alongside 137,000 postpaid net accounts added. For the first nine months of 2026, Verizon acquired nearly 1.7 million mobility and broadband subscribers compared to 879,000 in the same period in 2025.
The strategic shift implemented by CEO Schulman focused on loyalty programs and customer-first offerings like Simplicity, achieved without offering free lines, which resulted in a 41% year-over-year decrease in promotional acquisition costs and a 30% improvement in promotional retention costs. Financial results for the third quarter showed total operating revenue of $34.3 billion, a 1.5% year-over-year increase, though this missed expectations of $34.85 billion reported by Fierce Network. Mobility and broadband service revenue grew by 2.9% year-over-year to $23.5 billion, and consolidated net income rose by 5.2% year-over-year to $5.3 billion. Equipment revenue declined by 9% year-over-year, which the company linked to reduced device subsidies.
In the broadband segment, Verizon added 314,000 net additions, including 159,000 fixed wireless access (FWA) and 155,000 fiber broadband additions. The company is investing in infrastructure expansion through "AI Connect," evidenced by a $2 billion dark fiber agreement with Amazon Web Services and a multi-billion-dollar deal with Corning for fiber deployment. Moving forward, the company aims to increase the number of premises served by 1 gig FWA by 10 to 15 million and target 40 to 50 million fiber passings. Full-year guidance was raised, projecting 2026 postpaid phone net adds between 1.1 and 1.2 million.
Full Take
The narrative of growth is framed by a strategic pivot away from heavy subsidies toward loyalty and customer experience, which successfully drove significant net additions and improved retention metrics, suggesting that relationship-based monetization can be more effective than transactional incentives. The concurrent infrastructure build-out, exemplified by large deals with Amazon and Corning for fiber, suggests an interplay between consumer-facing strategy and long-term capital investment to secure future growth channels. However, the data highlights a tension: while top-line revenue and net additions are strong, some external analysis noted misses in specific revenue estimates and net additions within the broadband sector, implying that surface-level metrics may obscure underlying operational friction or variance in market perception. The focus on expanding infrastructure via AI Connect suggests an attempt to establish a durable competitive moat through physical network assets, which contrasts with the short-term management of promotional costs. The core implication is whether this transformation establishes sustainable value independent of ongoing macroeconomic pressures and evolving competitor strategies.
Patterns detected: ARC-0021 Correlation Causation, ARC-0031 Moving the Goalposts
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