Verizon Q3 FY2026: record margins and a third straight guidance raise
Verizon's third quarter was a services story: revenue rose 1.5% to $34.31 billion, adjusted EBITDA margin set a company record at 40.2% and management lifted full-year guidance for the third consecutive quarter. Adjusted EPS of $1.31 landed a hair below the $1.3111 consensus, so the good news sits in the mix and the cash flow, not the headline earnings number.
1 · Expected vs. Actual
Free preview belowGAAP EPS was $1.25, up 6.8% from $1.17, and adjusted EPS was $1.31, up 8.3% from $1.21. Against the $1.3111 consensus that is effectively a match, so there is no meaningful earnings surprise here. Consolidated net income was $5.32 billion, of which $5.20 billion was attributable to Verizon after $122 million went to noncontrolling interests.
Revenue of $34.31 billion rose 1.5% from $33.82 billion a year ago, but the mix is the story: service and other revenue contributed $29.20 billion, up 3.5%, while wireless equipment revenue fell 9.0% to $5.12 billion. Verizon is deliberately selling fewer phone upgrades and spending less on device subsidies. Growth now leans on service pricing and subscriber additions rather than hardware.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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