Summary
Verizon Communications Inc. (VZ) reported solid financial results for the first quarter of 2026, with total operating revenues reaching $34.44 billion, a 2.9% increase year-over-year. This growth was primarily driven by a 3.3% increase in the Consumer segment's revenues, which benefited from the inclusion of Frontier Communications results and higher wireless equipment sales. The Business segment also showed growth, with revenues up 1.8%, aided by an increase in 'Other' revenue categories, though mobility and broadband services saw a slight decline. Net income attributable to Verizon was $5.045 billion, or $1.20 per diluted share, representing a modest increase from the prior year. The company successfully managed its operating expenses, which grew at a slower pace than revenues, leading to improved operating income and segment operating income margins. A significant event during the quarter was the completion of the acquisition of Frontier Communications, which contributed to increased assets, liabilities, and operating revenues, along with associated integration costs. The company also continued its share repurchase program and maintained a strong free cash flow generation of $3.78 billion.
Financial Highlights
48 data points| Revenue | $34.44B |
| SG&A Expenses | $7.63B |
| Operating Expenses | $26.20B |
| Operating Income | $8.24B |
| Net Income | $5.04B |
| EPS (Basic) | $1.20 |
| EPS (Diluted) | $1.20 |
| Shares Outstanding (Basic) | 4.21B |
| Shares Outstanding (Diluted) | 4.21B |
Key Highlights
- 1Total operating revenues increased by 2.9% year-over-year to $34.44 billion, driven by growth in both Consumer and Business segments.
- 2Net income attributable to Verizon rose to $5.045 billion, or $1.20 per diluted share, up from $4.879 billion ($1.15 per diluted share) in the prior year's quarter.
- 3The acquisition of Frontier Communications was completed, contributing to increased revenues and assets, alongside $261 million in acquisition and integration related charges.
- 4The Consumer segment saw a 3.3% revenue increase, largely due to the inclusion of Frontier and higher wireless equipment sales.
- 5The Business segment's revenue grew by 1.8%, primarily driven by 'Other' revenue categories, despite a slight decline in mobility and broadband services.
- 6Free cash flow increased by $146 million year-over-year to $3.78 billion, demonstrating strong operational cash generation.
- 7Verizon continued its share repurchase program, repurchasing approximately 50.8 million shares for $2.5 billion during the quarter.