01—Abstract
Summary
Summary of the 8-K filed March 13, 2026. Cited figures are marked; the original filing is the authoritative source.
Verizon's March 13, 2026 Form 8-K, furnished under Regulation FD (Item 7.01), does not report new financial results.
It recasts how the company presents segment revenue and operating metrics, and provides historical data on that basis so investors can compare periods. Beginning in Q1 2026, Verizon Consumer Group (Consumer) and Verizon Business Group (Business) will report revenue in three categories: mobility and broadband service revenue, wireless equipment revenue, and other revenue. Exhibit 99 restates 2025 quarterly results on the new basis.
Consolidated 2025 operating revenue in the exhibit totals about $135.9 billiona, with Consumer at $106.8 billion and Business at $29.1 billion. The Consumer figure is the sum of the two segments' 12-month totals, and both include intersegment items that have not been eliminated. The most important change for investors is the end of segment-level operating metrics.
Verizon will now disclose subscriber, churn, and account statistics only on a consolidated basis. Based on the exhibit, the company ended 2025 with 146.9 million wireless retail connections, 126.7 million of them postpaid, and 13.5 million total broadband connections, including 5.7 million FWA and 7.7 million fiber. For the full year, wireless retail added 965,000 connections, FWA added 1.17 million, and fiber added 205,000.
Postpaid phone churn averaged 0.98% for the year but rose through the year, from 0.95% in Q1 to 1.02% in Q4. The 2025 postpaid ARPA was $170.62b. The revised presentation gives investors clearer insight into revenue quality.
Wireless equipment revenue is volatile and peaked at $7.1 billionc in Q4 2025 in Consumer, against about $4.5 billion in Q1 2025, reflecting holiday device sales. Mobility and broadband service revenue, the recurring core, was steady at roughly $18.8 to $19.1 billion per quarter in Consumer.
Business service revenue was roughly flat at $3.7 billiond per quarter, while Business's "other" revenue, which is largely legacy wireline, declined from $2.7 billion to $2.5 billion over the year. The filing does not itself explain the business rationale for these changes or provide forward guidance.
02—Key points
Key Highlights
- Verizon changed its segment revenue presentation starting in Q1 2026 to three categories: mobility and broadband service, wireless equipment, and other revenue.
- The company will disclose operating metrics (connections, churn, ARPA/ARPU, net adds) only on a consolidated basis, which reduces segment-level transparency for Consumer and Business.
- Exhibit 99 recasts 2025 results: Consumer 2025 revenue of $106.8 billion and Business revenue of $29.1 billion.
- Consumer wireless equipment revenue is seasonal, rising from $4.5 billion in Q1 2025 to $7.1 billion in Q4 2025, while mobility and broadband service revenue stayed near $19 billion per quarter.
- 2025 wireless retail net adds were 965,000, with postpaid phone net adds of 362,000. Net adds were weak in Q1 (negative 289,000 postpaid phone) and strongest in Q4 (616,000).
- Postpaid phone churn rose from 0.95% in Q1 2025 to 1.02% in Q4 2025, and FWA broadband added 1.17 million connections in 2025, ending at 5.7 million.
- The information is furnished under Item 7.01, not filed, so it is not incorporated into Securities Act or Exchange Act filings unless specifically referenced.
03—Questions
Frequently Asked Questions
Does this 8-K report new earnings or change Verizon's reported financial results?
No. The filing is a Regulation FD disclosure that revises how revenue and operating metrics are presented, and provides recast historical information in Exhibit 99 for convenience. It does not report new quarterly earnings or change previously reported consolidated totals.
Why is Verizon discontinuing segment-level operating metrics?
The filing says only that Verizon changed the presentation of certain operating metrics and will report them on a consolidated basis going forward. It does not explain the reason. Investors should note that this reduces the ability to track Consumer and Business subscriber trends separately.
What do the new revenue categories tell investors about the business?
Separating mobility and broadband service revenue from wireless equipment revenue shows the recurring service base more clearly. Consumer service revenue was steady near $19 billion per quarter in 2025, while equipment revenue swung with device sales and peaked in Q4. Business service revenue was roughly flat, and its other (legacy wireline) revenue declined through 2025.
What were the key subscriber trends in 2025 based on the exhibit?
Wireless retail ended 2025 with 146.9 million connections after 965,000 net adds. Postpaid phone net adds were 362,000 for the year, but churn rose from 0.95% to 1.02% between Q1 and Q4. FWA broadband (1.17 million net adds) and fiber (205,000 net adds) continued to grow, with total broadband connections reaching 13.5 million.
04—Continue