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Verizon Beats Estimates on Revenue, Ups Profit Outlook; Shares Surge
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July 21, 2025
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5:40Now PlayingVerizon CEO Hans Vestberg speaks with Bloomberg about company earnings.
Verizon Communications Inc. posted second-quarter revenue that surpassed analysts’ estimates and raised its profit outlook, buoyed by wireless price increases and recent tax legislation.
Operating revenue was $34.5 billion, up 5.2% from a year earlier, The New York-based carrier said in a statement. Wall Street had been expecting $33.7 billion, on average. Wireless service revenue, which excludes device purchases and upgrades, was $20.9 billion, in line with analysts’ projections.
The strong performance, as well as “favorable tax reform,” led Verizon to boost some full-year guidance metrics, including adjusted earnings before interest, tax, depreciation and amortization and free cash flow.
Chief Executive Officer Hans Vestberg said Verizon has “momentum and a clear path forward.”
The shares rose as much as 4.7% Monday in New York, the most since January 2024. They are up 6.2% this year.
At the same time, the company saw a net loss of 51,000 monthly consumer wireless phone subscribers in the period, while analysts had been expecting of a gain of 12,000, on average.
Like its peers, Verizon is struggling to woo new customers amid a tight market. The company ended Christmas holiday promotions earlier than AT&T Inc. and T-Mobile US Inc., leading to a steep drop in subscribers in the first quarter. But Verizon stepped up its deals in the spring, rolling out three-year price guarantees for its internet and mobile plans, as well as free phone upgrades. It also added free satellite-supported texting services.
Verizon has increased monthly rates and fees over the past few years to boost revenue, which has shown sluggish growth in recent years. The second-quarter’s gains were “driven by a lot of upgrades on phones,” Vestberg said, speaking on Bloomberg TV.
Chief Financial Officer Tony Skiadas told investors that the company is addressing customer turnover, partly driven by the pricing increases, with “initiatives designed to improve the customer experience, including leveraging AI for more personalized support.”
The company’s steadiness in wireless service revenue “reflects Verizon’s disciplined approach to promotions, countering rival offers only when it sees a solid return on investment,” Bloomberg Intelligence analysts John Butler and Hunter Sacco, wrote in a note before the results were published.
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