Verizon multiplies subscribers with new CEO: exceeds expectations in Q4 2025

Verizon Communications reported solid financial results for Q4 2025, marking a turnaround under the leadership of new CEO Dan Schulman. The company gained more than 616,000 net postpaid mobile subscribers, significantly surpassing market expectations. This performance represents an important inflection point for the operator, which had lost ground in previous quarters.

Schulman drives a historic subscriber rebound

Since taking office last October, Schulman — former CEO of PayPal Holdings — has implemented an aggressive operational optimization and competitive positioning strategy. In November, he carried out the company’s largest layoffs in history, betting on a more agile, results-oriented model.

During Q4, Verizon accumulated 146.9 million wireless connections in the retail segment. FactSet analysts had projected only 417,000 new subscribers, so Verizon nearly tripled these forecasts. The wireless services division generated $21 billion in revenue, solidifying itself as the company’s main driver.

Financial results: stable revenue and adjusted earnings

Total revenue for Q4 reached $36.4 billion, reflecting a 2% year-over-year growth and slightly exceeding Wall Street estimates. Earnings per share were $0.55 (or $1.09 excluding extraordinary items). Restructuring-related severance costs affected margins but did not hinder subscriber growth momentum.

This quarter was particularly competitive: both Verizon and T-Mobile US intensified their offers to attract customers from other carriers. The company, which had experienced expansion during the previous year’s holiday season, managed to recover after three consecutive quarters of mobile subscriber losses.

Broadband expansion: Frontier as a strategic lever

The recent $9.6 billion acquisition of Frontier Communications significantly expanded Verizon’s fiber optic network. Total fixed broadband connections via fiber and wireless reached 16.3 million after completing this transaction.

In Q4, Verizon added 372,000 net fixed broadband subscribers. Additionally, it gained 319,000 fixed wireless broadband subscribers, a technology that provides home connectivity through cell towers without requiring physical wiring. This service diversification supports the “comprehensive connectivity” strategy aimed at offering combined mobile and residential internet solutions.

Projections for 2026: moderate but positive expectations

Verizon expects to add between 750,000 and 1 million net postpaid mobile subscribers in 2026. Wireless service revenue will remain stable, while total mobility and broadband revenue will grow between 2% and 3%.

In terms of investment, the company plans capital expenditures between $16 billion and $16.5 billion in 2026, lower than the $17 billion budgeted for 2025. Schulman emphasized a commitment to “financially disciplined growth,” reflecting the new leadership’s focus on operational efficiency without sacrificing expansion opportunities.

Verizon’s subscriber recovery, combined with its broadband expansion, positions the operator to compete aggressively in the coming years against T-Mobile US and AT&T.