Verizon: Q3 profits exceed expectations at $5.3 billion and a $2 billion deal with AWB

It has raised its guidance for the third time in a row

(Il Sole 24 Ore Radiocor) - In the third quarter, Verizon posted a net profit of $5.3 billion, up 5.2 per cent, and revenue of $34.3 billion (+1.5 per cent), with gross margin rising to 40.2 per cent from 37.8 per cent. Earnings per share stood at $1.25, up 6.8% (+8.3% to $1.31 on an adjusted basis, compared with the $1.27 expected by analysts).

The telecoms group reports that it has gained nearly 1.7 million subscribers (1.648 million) to its mobile and broadband services, compared with the 879,000 gained in the first nine months of 2025. In the third quarter alone, net new mobile subscriptions totalled 406,000, “marking the best third-quarter performance in the last five years”.

In light of the results, the group has revised its 2026 guidance upwards for the third consecutive quarter. It now expects net mobile subscriber growth of between 1.1 and 1.2 million (the previous target was 750,000–1 million) and adjusted earnings per share of $5.04–$5.06, up 7–7.5 per cent year-on-year. Revenue growth from mobile and broadband is expected to be at the upper end of the range of +2.5 per cent to +3 per cent. The new guidance exceeds analysts’ estimates.

Verizon has also extended its partnership with Amazon Web Services with a deal worth over 2 billion dollars