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Verizon Q2 Earnings Outperform Estimates and Lift Full-Year Outlook

Strong broadband additions driven by fiber expansion helped offset a surprise drop in wireless subscribers

The Verizon logo is seen on the 375 Pearl Street building in Manhattan, New York City, U.S., November 22, 2021. REUTERS/Andrew Kelly/File photo
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Overview

  • Verizon reported second-quarter adjusted EPS of $1.22 and revenue of $34.5 billion, topping analyst forecasts.
  • The company raised its 2025 adjusted profit growth forecast to 1–3% and boosted its free cash flow guidance to $19.5–20.5 billion.
  • Wireless service revenue grew 2.2% as customers adopted premium add-ons such as streaming service bundles.
  • Verizon lost 9,000 bill-paying wireless subscribers in Q2 against an expected gain, while adding 293,000 broadband net users.
  • Verizon secured approval for its $20 billion Frontier acquisition and advanced private 5G partnerships to expand its fiber and enterprise network footprint.